Statement re AGM

Guinness Peat Group PLC
18 April 2002


                             GUINNESS PEAT GROUP PLC
 
                              COMPANY ANNOUNCEMENT

                            SHAREHOLDER MEETINGS 2002

Guinness Peat Group plc ('GPG') indicated with the Preliminary Announcement of
its Results issued on 15 March 2002 that, in keeping with its usual timetable,
the cash dividend for the year ended 31 December 2001 will be paid as an interim
dividend on 13 May 2002.


As the Chairman reported in his Statement accompanying the Financial Results,
there remain a number of potential developments in prospect for GPG in the
foreseeable future. It has therefore been decided to defer the 2002 Annual
General Meeting ('AGM') until July. As a consequence the Notice of AGM, to be
contained in the Group's Annual Report, will be dispatched following an
Extraordinary General Meeting ('EGM') to be held on 3 May 2002 which has been
convened for the approval of the Scrip Dividend Alternative and proposed
Capitalisation Issue.

A Circular has been posted to shareholders in connection with the cash
dividend, Scrip Dividend Alternative and proposed Capitalisation Issue ('the
Circular'). Notice of the EGM is contained in the Circular. In addition, a
timetable for the above mentioned events was released earlier this week on the
London, Australian and New Zealand Stock Exchanges. 


For further information please contact J R Russell, Company Secretary, Guinness 
Peat Group plc  Tel: [phone] or Fax: [phone]. 



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