Director Shareholding

Guinness Peat Group PLC
21 April 2004



GUINNESS PEAT GROUP PLC


DEALINGS BY DIRECTORS

     1 Name of Company

       Guinness Peat Group plc

     2 Name of Director

       Anthony Ian Gibbs

     3 Please state whether notification indicates that it is in repect of holding of the Director named in 2 above or
       holding of that person's spouse or children under the age of 18 or in respect of a non-beneficial interest.

       Own holding

     4 Name of the registered holder(s) and, if more than one holder, the number of shares held by each of them (if
       notified)

       The Ruby Cove 1990 Trust on the New Zealand register

     5 Please state whether notification relates to a person(s) connected with the Director named in 2 above and
       identify the connected person(s).

       Director

     6 Please state the nature of the transaction and the nature and extent of the Director's interest in the
       transaction.

       exercise of options

     7 Number of shares/amount of stock acquired

       350,261

     8 Percentage of issued class

       0.05

     9 Number of shares/amount of stock disposed

       N/A

    10 Percentage of issued class

       N/A

    11 Class of security

       Ordinary 5 pence

    12 Price per share

       25.3400 pence

    13 Date of transaction

       20/04/2004

    14 Date Company informed

       20/04/2004

    15 Total holding following this transaction

       816,682

    16 Total percentage of issued class following this transaction

       0.12

IF A DIRECTOR HAS BEEN GRANTED OPTIONS BY THE COMPANY PLEASE COMPLETE THE 
FOLLOWING BOXES

No options were involved in this transaction.

    17 Date of Grant

    18 Period during which or date on which exercisable

    19 Total amount paid (if any) for grant of the option

    20 Description of shares or debentures involved: class number

    21 Exercise price

    22 Total number of shares or debentures over which options held following 
        this notification

    23 Any additional information

    24 Name of contact number for queries

       J R Russell, Company Secretary 020 7484 3370

    25 Name and signature of company official responsible for making this notification

       J R Russell, Company Secretary 020 7484 3370



       Date of this notification                          20-Apr-04




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