Statement re. Press Comment

Grainger Trust PLC
28 September 2006


28 September 2006

Grainger Trust plc

FOR IMMEDIATE RELEASE


Statement re press speculation


Grainger Trust plc ('Grainger' or the 'Company') has noted recent press
speculation regarding the possibility of an offer being made for the Company.



The board of Grainger can confirm that it has received a preliminary approach
from a party expressing an interest in formulating an offer for the Company.  No
terms have been indicated nor details provided.



There can be no certainty that any formal approach to the Company and,
consequently, any offer will be forthcoming.





Enquiries:



Grainger
Rupert Dickinson                       020 7795 4700
Andrew Cunningham                      0191 261 1819


Financial Dynamics                     020 7831 3113
Stephanie Highett / Dido Laurimore



In accordance with Rule 2.10 of the City Code on Takeovers and Mergers, Grainger
confirms that it has 129,772,740 ordinary shares of 5 pence each in issue
admitted to trading on the London Stock Exchange under ISIN code GB00B04V1276.

Dealing Disclosure Requirements


Under the provisions of Rule 8.3 of the City Code on Takeovers and Mergers (the
'Code'), if any person is, or becomes, 'interested' (directly or indirectly) in
1% or more of any class of 'relevant securities' of Grainger, all 'dealings' in
any 'relevant securities' of that company (including by means of an option in
respect of, or a derivative referenced to, any such 'relevant securities') must
be publicly disclosed by no later than 3.30 pm (London time) on the London
business day following the date of the relevant transaction. This requirement
will continue until the date on which the offer becomes, or is declared,
unconditional as to acceptances, lapses or is otherwise withdrawn or on which
the 'offer period' otherwise ends. If two or more persons act together pursuant
to an agreement or understanding, whether formal or informal, to acquire an
'interest' in 'relevant securities' of Grainger, they will be deemed to be a
single person for the purpose of Rule 8.3.



Under the provisions of Rule 8.1 of the Code, all 'dealings' in 'relevant
securities' of Grainger by Grainger or by the potential offeror, or by any of
their respective 'associates', must be disclosed by no later than 12.00 noon
(London time) on the London business day following the date of the relevant
transaction.



A disclosure table, giving details of the companies in whose 'relevant
securities' 'dealings' should be disclosed, and the number of such securities in
issue, can be found on the Takeover Panel's website at
www.thetakeoverpanel.org.uk.



'Interests in securities' arise, in summary, when a person has long economic
exposure, whether conditional or absolute, to changes in the price of
securities. In particular, a person will be treated as having an 'interest' by
virtue of the ownership or control of securities, or by virtue of any option in
virtue of the ownership or control of securities, or by virtue of any option in
respect of, or derivative referenced to, securities.



Terms in quotation marks are defined in the Code, which can also be found on the
Panel's website. If you are in any doubt as to whether or not you are required
to disclose a 'dealing' under Rule 8, you should consult the Panel.



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




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