Directors' Dealings

GUINNESS PEAT GROUP PLC


                            DEALINGS BY DIRECTORS

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 Director named in 2 above
     or holding of that person's spouse or children under
     the age of 18 or in respect of a non-beneficial interest

DIRECTOR

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

N/A

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

DISPOSAL ON MARKET ON NEW ZEALAND STOCK EXCHANGE

7)   Number of shares/amount of
     stock acquired

N/A

8)   ( N/A %)
     of issued Class

9)   Number of shares/amount
     of stock disposed

57,617

10)  ( N/A %)
     of issued Class

NOT MATERIAL

11)  Class of security

ORD 10P

12)  Price per share

NZ $1.60

13)  Date of transaction

9 JULY 1999

14)  Date company informed

9 JULY 1999

15)  Total holding following this notification

1,656,904

16)  Total percentage holding of issued class following 
     this notification      

0.35%

      IF A DIRECTOR HAS BEEN GRANTED OPTIONS BY THE COMPANY PLEASE COMPLETE 
                              THE FOLLOWING BOXES

17)  Date of grant

N/A

18)  Period during which or date on which exercisable

N/A

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

N/A

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

N/A

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

N/A

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

N/A

23)  Any additional information

N/A

24)  Name of contact and telephone number for queries

J R RUSSELL
0171 286 0336

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

     Date of Notification.....9 JULY 1999................