First Quarterly Dividend

Merchants Trust PLC
2 July 2001






For Immediate Release                                    2nd July 2001





                           THE MERCHANTS TRUST PLC

                           FIRST QUARTERLY DIVIDEND





The Board has announced a first quarterly dividend for the financial year
ending 31st January 2002 of 4.20p net, payable on 10th August 2001 to holders
of record at the close of business on 13th July 2001. This represents an
increase of just under 2.5%, when compared with the equivalent payment in 2000
/2001 of 4.10p.


In the last annual report the Board forecast a total dividend for the current
financial year of not less than 16.80p net per share. This represents an
underlying increase of just under 2.5% when compared with the 16.40p total
dividend payments in the previous year.







                                                         By Order of the Board










                                                                  Kirsten Salt

                                                              Deputy Secretary

2nd July 2001



For further information:

Amy Fisher

Lansons Communications

020 7490 8828