Issue of Equity

Guinness Peat Group PLC
26 May 2006



                             GUINNESS PEAT GROUP plc

                              COMPANY ANNOUNCEMENT

                           SCRIP DIVIDEND ALTERNATIVE


Guinness Peat Group plc ("GPG") announces that on Friday 26 May 2006 it allotted
6,511,214 Ordinary shares of 5p each ("Shares") in respect of its Scrip Dividend
Alternative to shareholders on the UK, Australian and New Zealand share
registers.

GPG has applied for admission of the Shares to the Official List of the UK
Listing Authority and for admission to trading on the London Stock Exchange's
('LSE') main market for listed securities.  Application has also been made for
quotation of the shares on the Australian Stock Exchange ('ASX') in CDI form.
The Shares will be freely tradable on the New Zealand Stock Exchange ('NZSX') on
advice being given to New Zealand Exchange Limited that the shares have been
issued.  It is expected that listing of the Shares by the UKLA and admission to
trading on the LSE will take place on 30 May 2006. Trading on the ASX and NZSX
is expected to commence on 29 May 2006.



Richard Russell
Company Secretary
26 May 2006


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