Acquisition

Grainger Trust PLC
10 September 2003

Grainger Trust plc (the 'Company')


Acquisition of Bromley Joint Venture


Posting of shareholder circular


10 September 2003


Following the announcement by Grainger Trust on 8 August 2003 that it had
reached agreement to acquire the outstanding equity and loan stock in Bromley
Property Holdings Limited from an entity owned by Deutsche Bank AG, its joint
venture partner, Grainger Trust has today posted a circular to shareholders
detailing the acquisition and to convene an extraordinary general meeting on 26
September 2003 to approve the acquisition.


Copies of the circular have also been submitted to the UK Listing Authority and
will shortly be available for inspection at the UK Listing Authority's Document
Viewing Facility, which is situated at:


UK Listing Authority

25 The North Colonnade

Canary Wharf

London

E14 5HS


Contact:

Grainger Trust plc

Rupert Dickinson, Chief Executive, 020 7795 4700

Andrew Cunningham, Deputy Chief Executive and Finance Director, 0191 261 1819


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