Tender Offer

Guinness Peat Group PLC
27 February 2002


Guinness Peat Group plc
27 February 2002

GUINNESS PEAT GROUP plc


                TENDER OFFER FOR SHARES IN THE QUICKS GROUP PLC


Guinness Peat Group plc ('GPG') announced on 15 February 2002 a Tender Offer to
purchase up to 3,650,000 ordinary shares of 10 pence each ('Shares') in Quicks
Group plc ('Quicks') ('the Tender Offer').

Following the close of the Tender Offer at 3.00 pm on Tuesday, 26 February 2002
tenders totalling less than 1% of the voting rights of Quicks had been received.
Consequently the Tender Offer is void.

Forms of tender, which cease to have any effect, together with certificates and
other documents of title will be posted by Friday, 8 March 2002 or, where Quicks
shares are held in uncertificated form, Computershare Investor Services PLC will
give TFE instructions to CRESTCo to transfer all Quicks shares held in escrow
balance to the original available balances of the Quicks shareholder concerned
by Friday, 8 March 2002.


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