Sale of Investment

Guinness Peat Group PLC
19 April 2007



                            Guinness Peat Group plc


                                  Announcement


         Sale of Stake in Australian Wealth Management Limited ("AWM")



Guinness Peat Group plc ("GPG") announces that it sold yesterday its entire
19.4% stake in ASX-listed company, Australian Wealth Management Limited (ASX
code : AUW).  The sale was undertaken via an institutional placement at a price
of A$2.435 (£1.02) per share and underwritten by UBS AG.  The sale realised a
profit of approximately A$172 million (£71.8 million).


The value of AWM's gross assets at 31 December 2006 was A$808 million (£337.5
million), and in the six month period to 31 December 2006 AWM's profits were
A$26 million (£10.8 million).


GPG is a strategic investment company.  The sale proceeds are in the form of
cash which will be utilised in GPG's ongoing business.


Commenting on the sale by GPG, Dr Gary Weiss, GPG Director, said :

"Following completion of the merger between AWM and Select and the release of
AWM's 2007 half year results, we believe that it is an appropriate time for GPG
to divest its shareholding and reinvest the proceeds in investment opportunities
where GPG can be more actively involved in enhancing value".


GPG has advised AWM that the two GPG representatives on its Board, Michael
Jefferies and Graeme Cureton, will resign following completion of the sale.





J R Russell
Company Secretary
Tel : [phone]


19 April 2007




Contact :  B A Nixon          [phone]
           Dr G H Weiss       [phone]


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