Holding(s) in Company

Grainger Trust PLC
22 January 2002

                  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

       SHAREHOLDER

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.



6)   ( N/A %) of issued Class

7)   Number of shares/amount of stock disposed

       50,500

8)   ( 0.2%) of issued Class

9)   Class of security

      25P ORDINARY SHARES

10)  Date of transaction

      17/1/02

11)  Date company informed

      21/1/2002

12)  Total holding following this notification

      700,000
               
13)  Total percentage holding of issued class following this notification

      2.84%

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 22/1/2002







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