Director Shareholding

Guinness Peat Group PLC
11 July 2003

                                  SCHEDULE 11

          NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS



1. Name of company


Guinness Peat Group plc



2. Name of director


T J N Beyer



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 or in respect of a non-beneficial
interest


Own Holding



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


Own name of New Zealand register



5. Please state whether notification relates to a person(s) connected with the
director named in 2 above and identify the connected person(s)


Director



6. Please state the nature of the transaction. For PEP transactions please
indicate whether general/single co PEP and if discretionary/non discretionary


(a) Buyback of ordinary shares of 5p each ("Shares") in Guinness Peat Group plc and

(b) consequent issue of Convertible Loan Notes ("CLNS") by GPG (UK) Holdings plc



7. Number of shares / amount of stock acquired


(b) 554,705 CLNs



8. Percentage of issued class


0.9%



9. Number of shares/amount of stock disposed


(a) 221,882 Shares



10. Percentage of issued class


Less than 0.1%



11. Class of security


(a) Ordinary 5 pence shares ("Shares")
(b) Convertible Loan Notes ("CLNs")



12. Price per share


Issue of 5 CLNs for each 2 Shares bought back



13. Date of transaction


9 July 2003



14. Date company informed


10 July 2003



15. Total holding following this notification


(a) 996,146 Shares
(b) 1,554,705 CLNs



16. Total percentage holding of issued class following this notification


(a)  0.14% Shares
(b) 2.58% CLNs



If a director has been granted options by the company please complete the
following boxes.



No options were involved in this transaction.



17. Date of grant






18. Period during which or date on which exercisable






19. Total amount paid (if any) for grant of the option






20. Description of shares or debentures involved: class, number






21. Exercise price (if fixed at time of grant) or indication that price is to be
fixed at time of exercise






22. Total number of shares or debentures over which options held following this
notification






23. Any additional information






24. Name of contact and telephone number for queries


J R Russell, Company Secretary



25. Name and signature of authorised company official responsible for making
this notification


J R Russell, Company Secretary



Date of Notification


11 July 2003



The FSA does not give any express or implied warranty as to the accuracy of this
document or material and does not accept any liability for error or omission.
The FSA is not liable for any damages (including, without limitation, damages
for loss of business or loss of profits) arising in contract, tort or otherwise
from the use of or inability to use this document, or any material contained in
it, or from any action or decision taken as a result of using this document or
any such material.


                      This information is provided by RNS
            The company news service from the London Stock Exchange