Director Shareholding

Grainger Trust PLC
5 December 2002


LETTER TO RNS

We wish to announce that our subsidiary company, The Grainger Trust Employee 
Trustee Limited carried out the following transactions in the shares of
Grainger Trust plc:-

Sale of 180,129 shares

Purchase of 120,000 shares

These transactions relate to the transfer of shares to beneficiaries under 
Grainger Trust's Long Term Incentive Plan and the acquisition of further shares
for the purposes employee share incentive schemes.  Both transactions occurred
at £11.16

FROM GRAINGER TRUST PLC

                       DEALINGS BY DIRECTORS


1)  NAME OF COMPANY

    GRAINGER TRUST PLC

2)  NAME OF DIRECTOR

    ANDREW CUNNINGHAM

3)  Please state whether notification indicates that it is in respect of
    holding of the shareholder named in 2 above or in respect of a
    non-beneficial interest or in the case of an individual holder
    if it is a holding of that person's spouse or children under the
    age of 18 or in respect of an non-beneficial interest

    SELF

4)  Name of the registered holder(s) and, if more than one holder, the
    number of shares held by each of them. (If notified)

    ANDREW CUNNINGHAM

5)  Please state whether notification relates to a person(s) connected
    with the Director named in 2 above and identify the connected person(s)

    SELF

6)  Please state the nature of the transaction. For PEP transactions
    please indicate whether general/single co PEP and if discretionary/non
    discretionary

    RELEASE FROM LONG TERM INCENTIVE PLAN, AND SUBSEQUENT SALE

7)  Number of shares/amount of
    stock acquired

    42,428

8)   (0.17%)
    of issued Class



9)  Number of shares/amount
    of stock disposed

    8,000

10)  ( - %)
    of issued Class



11) Class of security

    25p ORDINARY

12) Price per share

    £11.16

13) Date of transaction

    5/12/2002

14) Date company informed

    5/12/2002

15) Total holding following this notification

    72,077

16) Total percentage holding of issued class following this notification

    0.29%

     IF A DIRECTOR HAS BEEN GRANTED OPTIONS BY THE COMPANY PLEASE
                    COMPLETE THE FOLLOWING BOXES

17) Date of grant



18) Period during which or date on which exercisable



19) Total amount paid (if any) for grant of the option



20) Description of shares or debentures involved: class, number.



21) Exercise price (if fixed at time of grant) or indication that price
    is to be fixed at time of exercise



22) Total number of shares or debentures over which options held
    following this notification



23) Any additional information



24) Name of contact and telephone number for queries

    G. J. DAVIS - 0191 261 1819

25) Name and signature of authorised company official responsible for
    making this notification

    Date of Notification    5/12/2002                             



                       DEALINGS BY DIRECTORS


1)  NAME OF COMPANY

    GRAINGER TRUST PLC

2)  NAME OF DIRECTOR

    RUPERT DICKINSON

3)  Please state whether notification indicates that it is in respect of
    holding of the shareholder named in 2 above or in respect of a
    non-beneficial interest or in the case of an individual holder
    if it is a holding of that person's spouse or children under the
    age of 18 or in respect of an non-beneficial interest

    SELF

4)  Name of the registered holder(s) and, if more than one holder, the
    number of shares held by each of them. (If notified)

    RUPERT DICKINSON

5)  Please state whether notification relates to a person(s) connected
    with the Director named in 2 above and identify the connected person(s)

    SELF

6)  Please state the nature of the transaction. For PEP transactions
    please indicate whether general/single co PEP and if discretionary/non
    discretionary

    RELEASE OF SHARES UNDER LONG TERM INCENTIVE PLAN

7)  Number of shares/amount of
    stock acquired

    46,332

8)   (0.2%)
    of issued Class

      

9)  Number of shares/amount
    of stock disposed
      -
    

10)  ( N/A %)
    of issued Class



11) Class of security

    25p ORDINARY

12) Price per share

    £11.16

13) Date of transaction

    5/12/2002

14) Date company informed

    5/12/2002

15) Total holding following this notification

    232,064

16) Total percentage holding of issued class following this notification

    0.94%

     IF A DIRECTOR HAS BEEN GRANTED OPTIONS BY THE COMPANY PLEASE
                    COMPLETE THE FOLLOWING BOXES

17) Date of grant



18) Period during which or date on which exercisable



19) Total amount paid (if any) for grant of the option



20) Description of shares or debentures involved: class, number.



21) Exercise price (if fixed at time of grant) or indication that price
    is to be fixed at time of exercise



22) Total number of shares or debentures over which options held
    following this notification



23) Any additional information



24) Name of contact and telephone number for queries

    G. J. DAVIS - 0191 261 1819

25) Name and signature of authorised company official responsible for
    making this notification

    Date of Notification    5/12/2002                             



                       DEALINGS BY DIRECTORS


1)  NAME OF COMPANY

    GRAINGER TRUST PLC

2)  NAME OF DIRECTOR

    SEAN SLADE

3)  Please state whether notification indicates that it is in respect of
    holding of the shareholder named in 2 above or in respect of a
    non-beneficial interest or in the case of an individual holder
    if it is a holding of that person's spouse or children under the
    age of 18 or in respect of an non-beneficial interest

    SELF

4)  Name of the registered holder(s) and, if more than one holder, the
    number of shares held by each of them. (If notified)

    SEAN SLADE

5)  Please state whether notification relates to a person(s) connected
    with the Director named in 2 above and identify the connected person(s)

    SELF

6)  Please state the nature of the transaction. For PEP transactions
    please indicate whether general/single co PEP and if discretionary/non
    discretionary

    RELEASE OF SHARES FROM LONG TERM INCENTIVE PLAN, AND SUBSEQUENT SALE

7)  Number of shares/amount of
    stock acquired

    19,515

8)   (0.08%)
    of issued Class



9)  Number of shares/amount
    of stock disposed

    4,000

10)  ( 0.02%)
    of issued Class



11) Class of security

    25p ORDINARY

12) Price per share

    £11.16

13) Date of transaction

    5/12/2002

14) Date company informed

    5/12/2002

15) Total holding following this notification

    38,302

16) Total percentage holding of issued class following this notification

    0.15%

     IF A DIRECTOR HAS BEEN GRANTED OPTIONS BY THE COMPANY PLEASE
                    COMPLETE THE FOLLOWING BOXES

17) Date of grant



18) Period during which or date on which exercisable



19) Total amount paid (if any) for grant of the option



20) Description of shares or debentures involved: class, number.



21) Exercise price (if fixed at time of grant) or indication that price
    is to be fixed at time of exercise



22) Total number of shares or debentures over which options held
    following this notification



23) Any additional information



24) Name of contact and telephone number for queries

    G. J. DAVIS - 0191 261 1819

25) Name and signature of authorised company official responsible for
    making this notification

    Date of Notification    5/12/2002                             

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