Directorate Change

Grainger Trust PLC
27 February 2003


                           GRAINGER TRUST PLC:
                         APPOINTMENT OF DIRECTOR

Grainger Trust plc, the UK's largest quoted residential property investor, today
announces the further strengthening of its board with the appointment of John 
Barnsley as a non-executive director.

Until December 2001, John was a senior partner at PricewaterhouseCoopers, where 
he served as National Senior Tax Partner, as Senior Audit Partner for Europe and
as UK Managing Partner. In the latter part of his career with PWC, John was 
Joint Director of Global Operations and Global CEO of business process 
outsourcing.

In the last five years John has been a non-executive director of Syltone PLC and
Northern Investors Company PLC, positions he continues to hold. At the date of 
this announcement he holds 900 shares in Grainger Trust plc. No details remain 
to be disclosed under 16.4 of this Listing Rules of the FSA.

Robert Dickinson
Chairman
27 February 2003



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