Conversion of Securities

Peel Hldgs PLC
24 November 2000



Peel Holdings plc

Conversion of Convertible Preference Shares

Application has been made for the listing of 12,434 ordinary shares of 25p
each, arising from the exercise of conversion rights to the 5.25% (net)
Convertible Cumulative Non-voting Preference shares of £1 each.

The ordinary shares arising on conversion will rank pari passu with the
existing ordinary shares and listing will take place on 27 November 2000.



24 November 2000