Holding in Company

Grafton Group PLC
19 November 2001

Grafton Group Plc

19 November 2001

Re: Holding in Company



A Letter from Setanta Asset Management Limited dated 15 November 2001 to the
Irish Stock Exchange, received by the Irish Stock Exchange 15 November 2001.

Notification of Share Holding in Grafton Group Plc

Above 3% of the Shares Outstanding.

I wish to confirm the following details on behalf of the Canada Life Group.
All group companies referred to below are indirectly wholly owned by the
ultimate group parent ' Canada Life Financial Corporation' in Toronto.

Please note Setanta Asset Management limited is a wholly owned fund management
subsidiary within the Canada Life Group.

I hereby give notice that the companies detailed below have in aggregate
acquired in excess of 3% of the total shares outstanding of Grafton Group Plc.
We note that the 'Notifiable percentage' per section 70 of the Companies Act,
1990 is 5% however, in accordance with best practice, this notice is being
issued. This notification replaces all previous notifications.



Share Holdings by Canada Life.
Managed by Setanta Asset Management Limited                 No. of Shares Held
£ Canada Life Assurance (Ireland) Limited (Reg. No 82029)   3,833,280
£ Canada Life International Re (Reg. No 339137)             66,000
£ Canada Life Assurance Europe Limited (Reg. No 297731)     800
* The Canada Life Assurance Company                         2,193,220
Total:                                                      6,093,300


Managed by Bank of Ireland Asset Management Limited
£ Canada Life Assurance (Limited) (Reg. No 82029)                416,418
Total number of shares held                                      6,507,718
Total equity shares outstanding                                  174,640,700
% of Total Shares Held                                           3.73%

£ Registered in Ireland - Registered address of all three companies is 'Canada
Life House, Temple Road, Blackrock, Co.Dublin'

* A limited liability company, incorporated under the laws of Canada, having
its principal office for the Republic of Ireland at Canada Life House, Temple
Road, Blackrock, Co. Dublin.





Dave Black

Operations Manager

Setanta Asset Management Limited