Holding in Company

Mercury Grosvenor Trust PLC
16 January 2001


Schedule 10 - Notification of Major Interests in Shares

1   Name of company:
Mercury Grosvenor Trust plc

2   Name of shareholder having a major interest:
Exeter Investment Group 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:
Beneficial

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

Exeter Capital Growth Fund                     600,000
Exeter Smaller Companies Income Fund Limited   200,000
Exeter Managed Growth Fund                     125,000
                                               -------
TOTAL                                          925,000

5   Number of shares/amount of stock acquired:
100,000

6   Percentage of issued class:
0.40%

7   Number of shares/amount of stock disposed:
N/A

8   Percentage of issued class:
N/A

9   Class of security:
Ordinary 25p shares

10  Date of transaction:
15 January 2001

11  Date company informed:
15 January 2001 (after office hours)

12  Total holding following this notification:
925,000

13  Total percentage holding of issued class following this notification:
3.67%

14  Contact name for queries:
Miss K Rucht

15 Contact telephone number:
020 7743 5466

16  Name of company official responsible for making notification:
Miss K Rucht

17  Date of notification:
16 January 2001