Results of EGM

Guinness Peat Group PLC
20 August 2001

                              
                           GUINNESS PEAT GROUP plc
                          ('GPG' or 'the Company')
                              
GPG announces that at its Extraordinary General Meeting held today  at  3.00pm
all the Resolutions were passed. The subject matter and number of proxies cast
were as follows:

Resolution                                      For    Against   Discretionary
                                                 
1. To increase the authorised capital    69,683,959  6,823,769       3,084,077
     
2. To authorise the directors to allot   69,593,743  6,919,228       3,088,178
   capital notes

3. To authorise the directors to allot   69,471,577  6,943,324       3,186,248
   shares

4. To adopt the 2001 Share Option        60,578,653  7,543,240       3,233,322
   Scheme

5. To amend the 1985 Share Option        60,362,736  7,561,982       3,430,530
   Scheme      

6. To amend the 1992 Share Option        60,353,088  7,583,614       3,418,513
   Scheme and the 1994 Share Option    
   Scheme

As a result the Company is pleased to confirm that the issue of NZ$250 million
Capital  Notes in  New  Zealand  has  been  approved  by  shareholders and all
conditional allotments  in respect  of  applications  received  to  date  will
become unconditional.