Director Shareholding

Grainger Trust PLC
7 June 2005

Directors Shareholdings

The company was notified on 7 June 2005 that the following shares have been
purchased for the respective Directors.

The shares which were purchased under the Company's SIP are registered in the 
name of Capita IRG.

The price per 5p ordinary share was £4.01.

Director                 Number of        Total holding     Total percentage
                      shares acquired    following this    holding of issued
                                          notification   shares following this
                                                              notification

Rupert Dickinson           96              1,458,560            1.13%
Stephen Dickinson          93              6,461,780            5.00%
Andrew Cunningham          93                371,430            0.29%



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