Directorate Change

Grainger Trust PLC
5 March 2002


As disclosed on 25 January 2002, Lord Portsmouth and Manny Davidson have today
retired as Non Executive Directors of Grainger Trust plc.  At the same time,
Robert Hiscox was appointed as a Non Executive Director by the Company's
shareholders at its Annual General Meeting held today, 5 March 2002.




Directors' Particulars for the Company Announcements Office

• Details of all directorships held by the individual in any other publicly
  quoted company at any time in the previous five years, indicating whether or 
  not the individual is still a director.

  HISCOX PLC

• Any unspent convictions in relation to indictable offences.

   NONE

• Details of any bankruptcies or individual voluntary arrangements.

   NONE

• Details of any receiverships, compulsory liquidations, creditors voluntary
  liquidations, administrations, company voluntary arrangements or any
  composition or arrangement with its creditors generally or any class of its
  creditors of any company where the individual was a director with an executive
  function at the time of or within the 12 months preceding such events.

   NONE

• Details of any compulsory liquidations, administrations or partnership
  voluntary arrangements of any partnerships where the individual was a partner
  at the time of or within 12 months preceding such events.

   NONE

• Details of receiverships of any asset of such individual or a partnership of
  which the individual was a partner at the time of or within the 12 months
  preceding such event.

   NONE

• Details of any public criticisms of the individual by statutory or regulatory
  authorities (including recognised professional bodies) and whether such 
  individual has ever been disqualified by a court from acting as a director of
  a company or from acting in the management or conduct of the affairs of any
  company.

   NONE

If there is no information to be disclosed in relation to any of the above
paragraphs, that fact should be specifically stated.


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