Statement re Parkdean

Grainger Trust PLC
08 November 2005


8 November 2005


For immediate release


Grainger Trust plc


Statement re Parkdean Holidays plc ('Parkdean')


On 31 October, 2005, following press speculation, the Board of Grainger Trust
plc ('Grainger') announced that it was in discussions with Parkdean which may,
or may not, lead to an offer for Parkdean being announced.  This announcement
was made at a preliminary stage in the process in order to comply with
Grainger's regulatory obligations.  Having had the chance to consider the
opportunity further, Grainger has decided that it will not proceed* to make an
offer for Parkdean.

* For the purposes of Rule 2.8 of the City Code on Takeovers and Mergers,
Grainger reserves the right to make or participate in an offer for Parkdean
shares within the next six months
     
(i)   with the agreement or recommendation of the Board of Parkdean;

(ii)  if any announcement is made by or on behalf of a third party relating to 
      the making of an offer or a possible offer (whether full or partial)
      for Parkdean; or

(iii) upon the announcement by or on behalf of Parkdean of a 'whitewash' 
      proposal or any proposal to implement a scheme of arrangement, reverse 
      takeover or any other business combination with a third party.


Enquiries:

 Grainger
 Rupert Dickinson, Chief Executive                                 020 7795 4700
 Andrew Cunningham, Deputy Chief Executive and Finance Director    0191 261 3161

 Baron Philips                                                     020 7920 3161
                                                                   07050 124 119








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