Result of AGM

Guinness Peat Group PLC
18 July 2002




For immediate release                                               18 July 2002



                            Guinness Peat Group plc


                                 Result of AGM


Guinness Peat Group plc announces that at its Annual General Meeting held this
afternoon all resolutions were approved by shareholders.



At the meeting, Sir Ron Brierley, Chairman, announced that the potential
developments in prospect for the Company referred to in the Annual Report
related to continuing discussions concerning a possible scrip merger between GPG
and a smaller UK listed company. This would involve an approximate 2% dilution
of existing GPG shareholders in exchange for longer term benefits.



The Chairman said these benefits would include an improved UK administrative and
tax structure.  However the transaction was necessarily complex and would take
some months more to bring to fruition.





                                     -ends-



                      This information is provided by RNS
            The company news service from the London Stock Exchange