Tender Offer

Guinness Peat Group PLC
15 February 2002


For immediate release                                15 February 2002



                            GUINNESS PEAT GROUP plc

                                TENDER OFFER FOR

                          3,650,000 ORDINARY SHARES IN

                                QUICKS GROUP plc

Guinness Peat Group plc ('GPG') announces that today it is posting to the
ordinary shareholders of Quicks Group plc ('Quicks') a Tender Offer document and
Form of Tender offering to purchase (by way of tender) up to 3,650,000 ordinary
shares of 10 pence each representing 9.1% of the issued ordinary share capital
of Quicks (the 'Tender Offer').  GPG currently holds 8,379,149 ordinary shares
representing 20.8% of the issued ordinary share capital of Quicks.  The details
of the Tender Offer are as follows:

The maximum price that GPG will pay for each ordinary share of Quicks is 85
pence.  This maximum price represents a premium of 5.6 per cent over the
mid-market price of ordinary shares in Quicks at close of business on 13
February 2002.

Shareholders may tender their shares in Quicks in two ways:

(i)         A shareholder may tender at the striking price (the lowest price at
which GPG can acquire 3,650,000 ordinary shares in Quicks pursuant to the Tender
Offer) in which case the shareholder will be treated as having tendered at the
price at which the striking price is ultimately set.  In the unlikely event that
it is not possible to set the striking price by reference to any fixed price
tender received, the striking price shall be deemed to be 80 pence per share; or

(ii)        A shareholder may tender at one or different fixed price(s) (up to a
maximum price of 85 pence per share).  In the latter case tenders will only be
accepted to the extent of shares tendered at prices equal to or less than the
striking price (as referred to above) subject, in the case of tenders made at a
price equal to the striking price, to scaling down pro rata.

If tenders totalling less than 1% of the voting rights of Quicks are received
the Tender Offer will be void; subject to the aforementioned condition, a
shareholder's Tender will be irrevocable.

The Tender Offer will close at 3.00pm on Tuesday 26 February 2002.  The results
of the Tender Offer will be announced at 8.00am on Wednesday 27 February 2002.
If the Tender Offer becomes unconditional, cheques in respect of successful
tenders will be dispatched, or payment in respect of CREST holdings made, no
later than Friday, 8 March 2002.  If the Tender Offer becomes void then share
certificates will be returned by Friday, 8 March 2002 or CREST holdings will be
re-credited to the relevant shareholder by Friday, 8 March 2002.

To accept the Tender Offer, Tender Forms and share certificates (where
appropriate) should be sent to GPG's receiving agent, Computershare Investor
Services PLC, PO Box 859, The Pavilions, Bridgwater Road, Bristol BS99 1XZ.
Shares held in CREST should be transferred to Computershare Investor Services
PLC as escrow agent, in accordance with the Tender Form.

An advertisement in respect of the terms of the Tender Offer (as authorised by
MacIntyre Corporate Finance Limited) will be published in the Financial Times
and the Daily Telegraph on Monday 18 February 2002.

Copies of the Tender Offer Document and additional Forms of Tender may be
obtained from the receiving agent as described above.

For further information, contact:

Blake Nixon, UK Executive Director
Guinness Peat Group plc                                  020 7236 0336

Kevin Smith
Weber Shandwick Square Mile                              020 7950 2800


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