Interest on Loan Notes

Guinness Peat Group PLC
29 November 2000


Guinness Peat Group plc

Interest on 8% Convertible Subordinated Unsecured Loan Notes Due 2005
('the Loan Notes')


Guinness Peat Group plc ('GPG') confirms that interest on its Loan Notes will be
despatched on Friday 29 December 2000 for payment on 2 January 2001.

The interest on each Loan Note will be 2.2904 pence and will be subject, as
indicated in the Conditions, to withholding tax at the prevailing UK rate of
20%. The net figure payable will therefore be 1.8323 pence per Loan Note.

Interest will normally be paid in the currency of the country in which the loan
Notes are registered. For payment to holders requiring interest in Australian or
New Zealand dollars, the relevant exchange rate for conversion will be
established in London at close of business Wednesday 27 December 2000.

Loan Note holders should note that GPG has decided to offer a facility whereby
holders may elect to take interest on their entire holding in any one of GPG's 3
principal trading currencies (being Sterling or Australian or New Zealand
Dollars) provided that such election is made, in writing, to the Registrar of
the register on which their Loan Notes are held in UK, Australia or New Zealand
as appropriate by 3pm (local time) on 15 December 2000. GPG is writing
separately to Loan Note holders to confirm this facility. The timetable is
therefore:


Record Date                                        Friday 8 December 2000

Election for currency option           By 3pm local time 15 December 2000

Exchange Rate for Currency Option               Close of business (London)
                                                         27 December 2000

Cheques despatched                                       29 December 2000

Payment Date                                               2 January 2001