First Quarterly Dividend

Merchants Trust PLC
3 July 2000

                     THE MERCHANTS TRUST PLC

                     FIRST QUARTERLY DIVIDEND

The Board have announced a first quarterly dividend for the financial year
ending 31st January 2001 of 4.10p net, payable on 24th August 2000 to holders
of record at the close of business on 14th July 2000.  This represents an
increase of +3.8%, when compared with the equivalent payment in 1999/2000 of
3.95p.

In the last annual report the Board forecast a total dividend for the current
financial year of not less than 16.40p net per share.  This represents an
underlying increase of 2.5% when compared with the 16.00p total dividend
payments in the previous year.


                                               By Order of the Board


                                               Nicola Schrager von Altishofen
                                               Company Secretary

For further information:-

Amy Fisher
Lansons Communications
020 7490 8828