NEW NON-EXECUTIVE DIRECTOR

Grainger Trust PLC
24 February 2005



For Immediate Release

24th February 2005



GRAINGER STRENGTHENS BOARD WITH THE APPOINTMENT OF

BILL TUDOR JOHN AS NON-EXECUTIVE DIRECTOR


Grainger Trust plc ('Grainger'), the UK's largest quoted residential property
investor with a market capitalisation of approximately £520m, today announces
that it has further strengthened its Board with the appointment of a new
independent non-executive director with immediate effect.


Bill Tudor John, 60, brings a vast amount of commercial and legal experience to
Grainger's board. He is currently a Managing Director at Lehman Brothers where
he chairs the European Commitment Committee and sits on the Investment Banking
Executive Committee. Prior to that he had been a partner at Allen & Overy LLP
for 29 years, serving as senior partner for six years. Bill's other corporate
interests include: Deputy Chairman of the Portman Building Society, Deputy
Chairman of the Bank of England Finance Markets Law Committee, Trustee of the
National Film and Television School Foundation and Chairman of Wales in London.
He is also an associate fellow of Downing College, Cambridge University, a
member of the Oxford University Development Board and is a steward of appeal at
the British Boxing Board of Control.


Robert Dickinson, Chairman of Grainger, said 'We are delighted to welcome Bill
onto Grainger's Board. He brings a high level of banking and legal expertise and
his knowledge of European markets and investments will prove invaluable. We
believe that he will make a significant contribution to Grainger's ambitious
growth plans over the coming years.'


Bill's appointment follows the retirements of Robin Herbert and Nichola Pease
who stepped down from the board at today's Annual General Meeting.


Ends.


Contact:

            Rupert Dickinson, Grainger Trust.Tel: [phone]

            Andrew Cunningham, Grainger Trust.Tel:[phone]

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



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