Change in Directors' Interests

GUINNESS PEAT GROUP PLC

ANNOUNCEMENT

Guinness Peat Group plc ("GPG" or the "Company") announces a change in directors' interests on 5 July 2011 following the implementation of the reduction in capital of the Company (the "Reduction") pursuant to the scheme of arrangement referred to in the Company's announcement made on 5 July 2011 and as more fully described in the Circular (the "Circular") sent to shareholders on 12 May 2011 (the "Scheme").

The Reduction was effected by the cancellation of 1 out of every 8 shares (subject to roundings) held by a shareholder as described in the Circular. Consequently, the interests of the directors in the issued ordinary 5p shares ("Shares") of the Company have reduced as follows:

* Following the Reduction, Sir Ron Brierley's holding of Shares now represents 3.1% of the Company's share capital and therefore 3.1% of the Company's total voting rights.

Mike Allen and Gavin Walker do not hold shares in the Company.

Chris Healy

Company Secretary

Guinness Peat Group plc

Tel: +44 20 7484 3370

7 July 2011