Further re Issue of £30m Secured Bonds 2029

Merchants Trust PLC
15 December 1999


                 THE MERCHANTS TRUST PLC
         ISSUE OF £30,000,000 SECURED BONDS 2029

Further  to  this morning's announcement, Warburg  Dillon
Read  announces that the Bonds were priced at 97.241  per
£100 nominal of the Bonds.  The coupon is 5.875 per cent.
payable   semi-annually.   At  this   price   the   gross
redemption  yield on the Bonds is 6.076  per  cent.  semi
annual.

For further information please contact:

Simon White/Nigel Lanning 
- Dresdner RCM Global Investors           020 7475 2700

Frank Kennedy 
- Warburg Dillon Read                     020 7567 4458

Duncan Hunter
-  Cazenove & Co.                         020 7588 2828