Rights Issue Result

Grafton Group PLC
24 March 2003

Grafton Group plc

24 March 2003


                    GRAFTON GROUP PLC RESULT OF EQUITY ISSUE

                         Grafton Group plc ('Grafton')

               95.33 PER CENT. ACCEPTANCE OF 1 FOR 5 RIGHTS ISSUE

                                      AND

                   SUCCESSFUL PLACEMENT OF RIGHTS ISSUE RUMP


The Board of Grafton announces that, by 9.30 a.m. on 21 March 2003, the latest
time and date for acceptance and payment in full for new Grafton Units under the
terms of the Rights Issue announced on 5 February 2003, valid acceptances were
received in respect of 33,629,498 New Grafton Units, representing approximately
95.33 per cent. of the New Grafton Units offered by way of rights at €2.00 per
New Grafton Unit. In addition, Grafton is pleased to announce that Goodbody
Stockbrokers have procured subscribers for the all of the New Grafton Units for
which valid acceptances were not received, at a price of €3.15 pence per Grafton
Unit.


Enquiries:

Grafton

Colm O'Nuallain, Finance Director     Tel. [phone]

Additional information:

This announcement should be read in conjunction with the full text of the
Listing Particulars dated 5 February 2003. Words and expressions defined in the
Listing Particulars shall bear the same meanings in this announcement.

Not for release, publication or distribution in or into the United States,
Canada, Australia, Japan or South Africa.


END


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