Director Shareholding

Grainger Trust PLC
6 April 2004



Letter to RNS

Directors Shareholdings

The company was notified on 5 April 2004 that the following shares were 
purchased for the respective Directors.

The shares which were purchased under the Company's SIP are registered in the
name of Capita IRG.

The price per 25p ordinary share was £19.55.

        Director         Number of          Total holding     Total percentage
                         shares acquired    following this    holding of issued
                                            notification      shares following
                                                              this notification

Rupert Dickinson             21               294,894               1.19%
Stephen Dickinson            21             1,312,211               5.29%
Andrew Cunningham            21                74,001               0.30%
Sean Slade                   21                32,078               0.13%



Letter from Grainger Trust plc



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