Holding(s) in Company

Merchants Trust PLC
13 March 2003

                                  SCHEDULE 10

                   NOTIFICATION OF MAJOR INTERESTS IN SHARES


1) Name of company

The Merchants Trust PLC

2) Name of shareholder having a major interest

Peter S Allen and Judith M Allen


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

Quilter & Co. 82,415

P.S. Allen and J. M. Allen 1,450

5) Number of shares/amount of stock acquired

75,000


6) Percentage of issued class

6.37%


7) Number of shares/amount of stock disposed

-


8) Percentage of issued class

-


9) Class of security

3.65% Cumulative Preference Shares of 25p each

10) Date of transaction

4 March 2003


11) Date company informed

11 March 2003

12) Total holding following this notification

83,865

13) Total percentage holding of issued class following this notification

7.12%
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:

13th March 2003

Additional Information:

This notification arises as a result of the purchase of 75,000 3.65% Cumulative
Preference Shares of 25p each by Gilt Fund Securities Limited, a private
investment company controlled by the individuals named in 2 above.


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