Holding(s) in Company

Merchants Trust PLC
26 February 2004

                                  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                            8,950

Gilt Fund Securities Limited                          51,217

Aboyne-Clyde Rubber Estates of Ceylon plc             35,500

5) Number of shares/amount of stock acquired

7,500


6) Percentage of issued class

0.64%


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

18 February 2004

11) Date company informed

25 February 2004

12) Total holding following this notification

178,082

13) Total percentage holding of issued class following this notification

15.12%


14) Contact name for queries:

Kirsten Salt

15) Contact telephone number:

020 7065 1513

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

As in 14 above.



17) Date of notification:

26 February 2004




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