Interest Payment on CLNs

GPG (UK) Holdings PLC
23 May 2003


For immediate release
  

                          GPG (UK) Holdings plc


GPG (UK) Holdings plc advises that the next interest payment of 1.2p per 8%
Convertible Loan Note (2005) ('CLNs') (being the interest payment for the first
half of 2003) falls due for payment on Monday 30 June 2003.  In accordance with
the Trust Deed the timetable is as follows:


          Record Date                         Friday 13 June 2003
          Exchange Date                       Monday 23 June 2003
          Payment date                        Monday 30 June 2003


Also on 30 June 2003, individuals who converted all of their holdings of CLNs on
14 February 2003 pursuant to the Notice of Additional Right of Conversion which
was posted to Noteholders on 27 December 2002, will receive interest accrued for
the period from (and including) 31 December 2002 up to (but excluding) 14
February 2003, being the date on which such individuals exercised their
additional right of conversion.

Interest is payable in £ sterling.  Noteholders on the New Zealand register will
automatically receive their interest in NZ$.  Alternatively Noteholders may
elect to receive their interest not in the currency of the Register on which
their names appear but in £ Sterling, NZ$ or Aus$.  The exchange rate for NZ$ or
Aus$ payments will be that available in London on 23 June 2003.  Elections must
be made in respect of complete holdings only and must be received by the
relevant Registrar by close of business on 23 June 2003. No partial elections
will be accepted.

Note that the payment of interest on the CLNs should not be confused with the
redemption and for conversion of the third tranche of CLNs which also takes
place as at 30 June 2003.



Richard Russell
Company Secretary

23 May 2003


                      This information is provided by RNS
            The company news service from the London Stock Exchange



                      This information is provided by RNS
            The company news service from the London Stock Exchange