EGM Statement

Grainger Trust PLC
24 February 2005


FOR IMMEDIATE RELEASE
24th February 2005

                              GRAINGER TRUST PLC:
                    RESULT OF EXTRAORDINARY GENERAL MEETING


Grainger Trust plc ('Grainger' or the 'Company') announces that at the EGM held
today all resolutions proposed were duly passed. Accordingly, the sub-division
of the existing ordinary shares of 25p each into five new ordinary shares of 5p
each will become effective after close of business today, 24th February 2005.

Application has been made to the UK Listing Authority ('UKLA') and the London
Stock Exchange for 124,106,385 new ordinary shares of 5p each to be admitted to
the Official List and it is expected that trading will commence at 8:00 am on 25
February 2005.

Two copies of the resolutions passed have been sent to the UKLA and are
available for inspection at their Document Viewing Facility situated at 25, The
North Colonnade, Canary Wharf, London, E14 5HF.

All definitions used in the Circular to Shareholders of Grainger dated 21
December 2004 apply to this announcement. Copies of the Circular are also
available for inspection at the Document Viewing Facility.


Ends


Enquiries:

Rupert Dickinson, Chief Executive, Grainger.            Tel: [phone]

Andrew Cunningham, Finance Director and 
Deputy Chief Executive.                                 Tel: [phone]

Baron Phillips, Baron Phillips Associates.              Tel: [phone]




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