Interest Payment on CLNs

Guinness Peat Group PLC
15 November 2001


           Interest on 8% Convertible Subordinated Unsecured Loan Notes 
                                    2005 ('the CLNs')

Guinness Peat Group plc ('GPG') confirms that interest on its CLNs for the half-
year to Sunday 30 December 2001 will be despatched on Friday 28 December 2001 
for payment on 31 December 2001.

The interest on each CLN will be 1.60 pence. Following certain changes to UK tax
legislation from 1 April 2001 interest payments made on the CLNs will be made 
without the deduction of any UK withholding tax.

Interest will normally be paid in the currency of the country in which the CLNs 
are registered. For payment to holders requiring interest in Australian or New 
Zealand dollars, the relevant exchange rate for conversion will be established 
in London at close of business on 20 December 2001.

CLN holders should take note that GPG continues to offer a facility whereby 
holders may elect to take interest on their entire holding in any one of GPG's 
three principal trading currencies (being Sterling or Australian or New Zealand 
dollars) provided that such election is made, in writing, to the Registrar of 
the register on which their CLNs are held in UK, Australia or New Zealand as 
appropriate, by 3:00 pm (local time) on 14 December 2001.

The timetable is therefore:

Record Date:                    5:00 pm local time            7 December 2001 

Election for Currency Option:   By 3:00 pm local time         14 December 2001

Exchange Rate for Currency      Close of business (London)    20 December 2001 
Option:

Payment Date and Cheques                                      31 December 2001 
despatched:


For enquiries please contact the Company's Registrars as follows:

UK              Computershare Investor Services Ltd               0870 702 0010 
Australia       Registries Ltd                                    02 9279 0677 
New Zealand     Computershare Registry Services Ltd               09 488 8777