Hldg in Co./Director Shrhldg

Grainger Trust PLC
27 September 2002



Grainger QUEST Trustee Company Limited, a wholly owned subsidiary of Grainier 
Trust plc, today transferred 8,060 Grainger Trust plc 25 Ordinary shares to a 
beneficiary of the Grainger Trust plc SAYE share option scheme. As a result, 
Grainger QUEST Trustee Company Limited no longer holds any Grainger Trust plc 
shares.




                       DEALINGS BY DIRECTORS


1)  NAME OF COMPANY

    GRAINGER TRUST PLC

2)  NAME OF DIRECTOR

    A.R. 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)

    A.R. 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

    EXERCISE OF OPTION

7)  Number of shares/amount of
    stock acquired

    8,060

8)   (0.03%)
    of issued Class



9)  Number of shares/amount
    of stock disposed

    -

10)  ( - %)
    of issued Class



11) Class of security

    25P ORDINARY

12) Price per share

    £2.14

13) Date of transaction

    27/9/02

14) Date company informed

    27/9/02

15) Total holding following this notification

    37,616

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 2611819

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

    Date of Notification       27/9/2002                          




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