Holding in Company

Mercury Grosvenor Trust PLC
20 November 2000


                  DEALINGS BY SUBSTANTIAL SHAREHOLDERS


1)   NAME OF COMPANY

     MERCURY GROSVENOR TRUST PLC

2)   NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

     THE ROYAL BANK OF SCOTLAND GROUP PLC
     NATIONAL WESTMINSTER BANK PLC
     AND NATWEST PENSION TRUSTEES LTD

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

     NON-BENEFICIAL

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

     BNY GIL CLIENT A/C NOMINEES LTD       3,030,659
     BANK OF NEW YORK (NOMINEES) LTD          20,000

5)   Number of shares/amount of stock acquired.

     NO CHANGE.

6)   (12.11%) of issued Class

7)   Number of shares/amount of stock disposed

     N/A

8)   ( N/A %) of issued Class

9)   Class of security

     3,050,659 ORDINARY SHARES OF 25P EACH

10)  Date of transaction

     20 NOVEMBER 2000

11)  Date company informed

     20 NOVEMBER 2000

12)  Total holding following this notification

     3,050,659
               
13)  Total percentage holding of issued class following this notification

     12.11%
     DUE TO THE CHANGE IN THE NUMBER OF SHARES IN ISSUE FOLLOWING THE 
     RECENT BUYBACK

14)  Any additional information

     MISS A J MARSH

15)  Name of contact and telephone number for queries

     020 7743 5430

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

     Date of Notification ....20 NOVEMBER 2000.