Holding(s) in Company

Mercury Grosvenor Trust PLC
10 January 2003


                                  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                         1,100,000

Exeter Smaller Companies Income Fund                 275,000

Exeter Managed Growth Fund                           275,000

Exeter Selective Assets Investment Trust             325,000

Exeter Global Opportunities Fund                     100,000

5) Number of shares/amount of stock acquired:

300,000

6) Percentage of issued class:

1.19%

7) Number of shares/amount of stock disposed:

N/A

8) Percentage of issued class:

N/A

9) Class of security:

Ordinary shares of 25p each

10) Date of transaction:

9 January 2003

11) Date company informed:

10 January 2003

12) Total holding following this notification:

2,075,000

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

8.23%

14) Any additional information:

N/A

15) Name of contact and telephone number for queries:

Miss D A Fish - 020 7743 5153

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

Miss D A Fish

For Merrill Lynch Investment Managers Group Services Limited
Secretary

17) Date of notification:

10 January 2003


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