Holding(s) in Company

Mercury Grosvenor Trust PLC
22 November 2002

                                  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 Asset Management Limited

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

Exeter Capital Growth Fund          970,000
Exeter Smaller Companies Income     275,000
Exeter Managed Growth Fund          225,000
Exeter Selective Assets I.T.        275,000

5) Number of shares/amount of stock acquired:

N/A

6) Percentage of issued class:

N/A

7) Number of shares/amount of stock disposed:

25,000

8) Percentage of issued class:

0.1%

9) Class of security:

Ordinary shares of 25p each

10) Date of transaction:

21 November 2002

11) Date company informed:

22 November 2002

12) Total holding following this notification:

1,745,000

13) Total percentage holding of issued class following this notification:

6.93%

14) Any additional information:

N/A

15) Name of contact and telephone number for queries:

Miss A J Marsh - 020 7743 5430

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

Miss A J Marsh
For Merrill Lynch Investment Managers Group Services Limited
Secretary

17) Date of notification:

22 November 2002


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