SAR - Perry Group Plc

Guinness Peat Group PLC
25 January 2001


re: PERRY GROUP PLC

In accordance with the Rules Governing Substantial Acquisition of Shares, the
following is the text of a Disclosure sent today to the Company Secretary of
Perry Group plc.


re: Disclosure of Interest in Shares Pursuant to Rule 3 of
    The Rules Governing Substantial Acquisitions of Shares

Guinness Peat Group plc and its subsidiary companies ('the Group') hereby notify
Perry Group plc ('Perry') that following the market purchases of 50,000 Ordinary
25p shares ('Shares') on 27 October 2000, 33,026 Shares on 28 November 2000 and
100,000 Shares on 24 January 2001 the Group's interest in the Shares of Perry
now amounts to 4,049,483 representing 15.32% of the issued share capital.

So far as the Group is aware, no person interested in the Shares is party to any
agreement or arrangement relating to the exercise of any rights conferred by
holding the Shares subject to this notification.