Holding in Company

Inchcape PLC
3 May 2001


Letter to Inchcape PLC

DISCLOSURE OF INTEREST IN SHARES PURSUANT TO
S.198 TO 202 OF THE COMPANIES ACT 1985

Guinness Peat Group plc and its subsidiary companies ('the Group') hereby notify
Inchcape Plc ('Inchcape') that following on-market transactions the interest of
the Group in the capital of Inchcape has reduced to 8,532,870 Ordinary 150p
shares ('Shares') representing 10.5% of the Shares currently in issue.

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 this notification.

From:  J R Russell (Company Secretary)

At as close of business on 2 May, 2001, Inchcape Plc's issued share capital was
81,248,980.