Third Quarterly Dividend

Merchants Trust PLC
8 January 2001


For Immediate Release                                    8th January 2001

                           THE MERCHANTS TRUST PLC


                                 ANNOUNCEMENT


                           THIRD QUARTERLY DIVIDEND


                        Year Ending 31st January 2001

Third Quarterly Dividend


The Board has declared a third quarterly dividend per Ordinary Share of 4.10p
net, payable on 16th February 2001 to holders of record at the close of
business on 19th January 2001.


This compares with a third quarterly dividend of 4.05p for the previous year.
The Board has forecast dividends totalling at least 16.40p for the current
financial year, an increase of 2.5% over 1999/2000.


By Order of the Board


Kirsten Salt

Deputy Company Secretary


For further information please contact:


Dresdner RCM Global Investors (UK) Limited:

Simon White            020 7475 2700

Nigel Lanning          020 7475 2700