Director/PDMR Shareholding

GUINNESS PEAT GROUP plc

("GPG" or "the Company")

ANNOUNCEMENT

GPG announces a change in directors' interests following the exercise of options by Mr. B.A. Nixon over 2,357,941 Ordinary shares of 5p ("Shares") at an exercise price of 17.176 pence per share.

Mr. Nixon now holds 17,217,692 Shares, representing 1.1% of the Company's issued share capital and therefore 1.1% of the Company's total voting rights.

Enquiry details are:

New Zealand and Australian media: Geoff Senescall on: +64 9 309 5659

UK media: Kevin Smith on: +44 20 7282 1054

Chris Healy

Company Secretary

Guinness Peat Group plc

Tel: +44 20 7484 3370

12 September 2011