Holding(s) in Company

Merchants Trust PLC
05 December 2002

                                  SCHEDULE 10

                   NOTIFICATION OF MAJOR INTERESTS IN SHARES

1) Name of company

The Merchants Trust PLC

2) Name of shareholder having a major interest

Legal & General Investment Management Limited

3) Please state whether notification indicates that it is in respect of
holding of the shareholder named in 2 above or in respect of a
non-beneficial interest or in the case of an individual holder if it is a
holding of that person's spouse or children under the age of 18

In respect of (2) above

4) Name of the registered holder(s) and, if more than one holder, the
number of shares held by each of them

HSBC Global Custody Nominee (UK) Ltd A/c 775245          464,465
HSBC Global Custody Nominee (UK) Ltd A/c 357206        2,376,620
HSBC Global Custody Nominee (UK) Ltd A/c 866203          121,000
HSBC Global Custody Nominee (UK) Ltd A/c 360509           87,675


5) Number of shares/amount of stock acquired

-


6) Percentage of issued class

-


7) Number of shares/amount of stock disposed

17,448

8) Percentage of issued class

0.017%


9) Class of security

Ordinary Shares of 25p each

10) Date of transaction

2 December 2002


11) Date company informed

4 December 2002

12) Total holding following this notification

3,049,760

13) Total percentage holding of issued class following this notification

2.98%

14) Contact name for queries:

Kirsten Salt

15) Contact telephone number:

020 7475 5808

16) Name and signature of authorised company official responsible for
making this notification

As in 14 above.



17) Date of notification:

5 December 2002


Additional Information:



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