Disposal of Shares

Guinness Peat Group PLC
20 July 2001

                            
                 GUINNESS PEAT GROUP PLC
                ('GPG') OR ('THE GROUP')

         DISPOSAL OF SHARES IN WRIGHTSON LIMITED
              ('WRIGHTSON') IN NEW ZEALAND

GPG  announces  that it has sold 26.7 million  shares  in
Wrightson (19.9%) for NZ$26.7 million (£7.8m) and,  as  a
result of the transaction, Wrightson has ceased to be  an
associated company within the Group.

Wrightson is a provider of agricultural services  in  New
Zealand. Immediately prior to the disposal GPG held  28.0
million  shares (20.91%). The book value at  31  December
2000 of the shares sold was £4.2m.

In  the  year  ended 31 December 2000, GPG's  holding  in
Wrightson contributed £2.0m to GPG's pre-tax profits.

GPG is a strategic investment company. The sales proceeds
are  in  the  form of cash and this will be  utilised  in
GPG's ongoing business.