Holding in Company

Grainger Trust PLC
31 July 2001

                  DEALINGS BY SUBSTANTIAL SHAREHOLDERS


1)   NAME OF COMPANY

GRAINGER TRUST PLC

2)   NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

JUPITER SPLIT TRUST PLC

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

SELF

4)   Name of the registered holder(s) and, if more than one holder, the 
     number of shares held by each of them.

JUPITER ASSET MANAGEMENT LIMITED

5)   Number of shares/amount of stock acquired.

25,000

6)   ( 0.1% ) of issued Class

7)   Number of shares/amount of stock disposed


8)   ( N/A %) of issued Class

9)   Class of security

25p ORDINARY

10)  Date of transaction

24/7/01

11)  Date company informed

31/7/01

12)  Total holding following this notification

750,500
               
13)  Total percentage holding of issued class following this notification

3.04%

14)  Any additional information


15)  Name of contact and telephone number for queries

G J DAVIS
0191 2611819


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

     Date of Notification  31/7/2001