Holding in Company

Inchcape PLC
20 July 2000

LETTER TO INCHCAPE PLC

Disclosure of Interest in Share pursuant to Sections 198 to 202 of the Company's
Act 1985

Guinness Peat Group plc and its subsidiary companies ('the Group') hereby notify
Inchcape plc ('Inchcape) that following market purchases of its ordinary £1.50
shares ('Shares') the Group's interest in the shares of Inchcape amounts to
9,510,069 Shares representing 10.76% of the Issued Share Capital.

The Holdings are registered as followed:

     RC Greig Nominees                         2,292,167
     Willbro Nominees                            350,000
     Allied Mutual Insurance Services Limited  6,867,902    

                                      Total    9,510,069

So far as the Group is aware no person interested in the Shares is party to any
agreement or arrangement relating to the exercise of any rights conferred by
holding the shares subject to certification.

From:  C J Gleave (Financial Controller, Guinness Peat Group Plc)