Further re Offer for Joe White

Guinness Peat Group PLC
29 February 2000



JOE WHITE MALTINGS LTD (AUSTRALIA)

Further to the announcement made by Guinness Peat Group plc ('GPG') and its
subsidiary companies on 10 September 1999 in connection with a proposed offer
for 50% of each member's fully paid ordinary shares in Joe White Maltings Ltd
('Joe White'), an Australian company, GPG now confirms that it has been advised
by the Foreign Investment Policy Division of the Australian Treasury that the
Treasury has no objection under the Australian Government's foreign investment
policy to GPG's offers for shares in Joe White, and, accordingly, the offers
have now been declared unconditional subject only to certain standard
'prescribed occurrence' conditions normally found in Australian offer
documentation.