RNS Number:7889I
Guinness Peat Group PLC
14 March 2003





                                                14 March 2003

                    GUINNESS PEAT GROUP PLC
            ("GPG" or "the Company or "the Group")

    PRELIMINARY RESULTS FOR THE YEAR ENDED 31 DECEMBER 2002

                     CHAIRMAN'S STATEMENT

Although the reported net profit for 2002 was marginally  less
than  for  2001,  it  was nevertheless a very  good  result  -
particularly  having  regard  to  the  resources  required  on
several large projects which are important to GPG, but did not
contribute to earnings for the year.  These include:

*  The Brunel deal, which converted the corporate structure
   of the former Brunel Holdings plc to the "new" GPG to provide
   a  more  appropriate  UK tax and administrative  base,  but
   otherwise with no change to existing profile and activities.

*  The  merger of ENZA Ltd and Turners & Growers  Ltd  (GPG
   80%)  to  create a significant new force in the New Zealand
   fruit and produce distribution business.

*  The  "spin-off" of Turners Auctions Ltd  as  a  separate
   listed public company.  The new listing has been well received
   by  the market with the shares trading well above the  book
   value of GPG's 38% residual shareholding.

*  Extensive preparation and planning of the takeover offer
   for  Coats  plc.  Although Coats is no longer  the  textile
   manufacturing giant of the bygone era of British industrial
   supremacy  it  is still by far the world leader  in  thread
   manufacture.  It is located in 63 countries worldwide, with a
   level of technical excellence which allows considerable scope
   for further growth and expansion.
   GPG  has  an  80%  economic interest in the  joint  venture
   company  which is bidding for all of Coats' capital.   This
   is  a big investment for GPG which we are confident will be
   vindicated by future performance.

*  A   greater   proprietorial  involvement   in   Premier
   Investments  Ltd  (GPG 16%), which is  the  largest  single
   shareholder in Coles Myer Ltd.  Unfortunately, Coles Myer's
   recent performance has been very disappointing, particularly
   having regard to its dominant position as Australia's biggest
   retail organisation.  Premier is an advocate for major Board
   and management changes in 2003 as a first step to restoring
   results to a more acceptable level.


*  An  investment  of NZ$56.1m (#18.2m) in  the  shares  of
   Rubicon Ltd and Fletcher Challenge Forests Ltd, with a view to
   influencing the most appropriate structure for the ownership
   of  New  Zealand's  major forest assets  has  so  far  been
   frustrating and unproductive.  A rather complex situation has
   evolved, but should be resolved in the current term.

A  major contributor to realised profits was the year end sale
of  shares  in  Joe  White Maltings Ltd  when  we  accepted  a
takeover  offer by Ausbulk Ltd.  The three year life cycle  of
this shareholding represents a classic investment exercise for
GPG  -  the  original identification of potential  value,  the
acquisition  of a strategic stake, the success of a  "hostile"
partial  offer  (a  rare  occurrence), the  implementation  of
management changes and sale of non-core assets to maximise the
impact  of  an  uplift in the malt price  cycle.   The  market
capitalisation  doubled during the GPG period of  control  and
the change of ownership successfully concluded our role in the
Joe White corporate revival.

Particular  mention  should  be made  of  Canberra  Investment
Corporation Ltd (CIC) (GPG 68%) which has always been a  solid
performer  and  which excelled in 2002 with a  net  profit  of
A$8.7m.   CIC  has  a  low  profile,  notwithstanding  it   is
Canberra's only publicly listed corporation, but has become an
increasingly  valuable member of the  GPG  group.   A  booming
Federal bureaucracy should ensure a continuation of the steady
demand  for  sub-divided housing land in  Canberra,  which  is
CIC's core activity.

GPG's  involvement  in the rationalisation  of  the  UK  motor
vehicle  distributors again proved rewarding  with  favourable
sales  of shares in Quicks plc and Ryland Group plc.  Our  50%
joint venture, Nationwide Accident Repair Services incurred an
overall  loss  in the course of selling or closing  uneconomic
operations but the company is strongly cash positive and value
is  being created for the future, albeit at a cost to  current
profitability.

Tower  Corporation  Ltd  - in GPG's  1998  Annual  Report,  we
predicted  the demutualised Tower was "likely to  struggle  to
survive  in a fully competitive market environment."  That  is
what  duly transpired with Tower reporting a substantial  loss
for  2002.   We  recently acquired a 10%  stake  and  two  GPG
representatives are proposed for election as Directors at  the
AGM  on  27  March.   Tower obviously has  some  problems  and
legacies  to overcome, but there is also considerable strength
in  its  undoubted intrinsic value as one of New  Zealand  and
Australia's oldest financial institutions.

As  always,  GPG's  published  accounts  are  presented  on  a
conservative  basis  with  all  items  which  are   considered
doubtful  written  down in the revenue statements.   The  only
"black  spot" is the necessity to "equity account" the profits
and  losses  of  other public companies  in  which  GPG  is  a
substantial  shareholder.  The amounts  are  not  material  in
aggregate in our case, but the principle is completely  wrong.
GPG  receives  dividends from these companies on  exactly  the
same  basis  as  the  smallest  private  shareholder  and  the
inclusion of additional amounts to which there is no legal  or
commercial entitlement is simply reporting bogus income.  This
course is not adopted by choice, but is forced upon us  by  so
called  "international accounting standards" of which  "equity
accounting" is but one of many serious deficiencies.

The   "simplified"  balance  sheet  below  provides  a  useful
snapshot of the company's investment profile:

Simplified Balance Sheet at 31 December 2002
------------------------------------------------------------

                                                    #m
Cash at Bank                                        95
Debtors                                             28
Future tax benefit                                   9
Coats plc                                           85
Nationwide                                          11
Staveley (UK & USA)                                  8
MEM                                                  8
Canberra Investment Corp                             9
Turners & Growers                                   31
Turners Auctions                                     2
Share portfolio                                    185
-----------------------------------------------------------
Total Assets                                       471
Creditors                                          (24)
Note Issues                                        (79)

-----------------------------------------------------------
SHAREHOLDERS' FUNDS                               #368
-----------------------------------------------------------

Capital and Dividend
As  usual, it is proposed to make a 1 for 10 bonus issue  (the
10th  in  succession,  producing a  multiple  of  259%  on  an
original 1990 shareholding) and to pay a cash dividend  of  1p
per share.

With  the Brunel merger process now having been completed,  it
is  timely to consider additional benefits to shareholders and
it  is  proposed  to  offer  to  redeem  up  to  10%  of  each
shareholder's  shares  (ex bonus) on  the  basis  of  five  8%
convertible unsecured notes (CLNs) of 20p for every  two  GPG
shares.  These notes will rank "pari passu"  with existing
CLNs  with  the principal repayable  in  two  equal
instalments  on  30 June 2004 and 2005 and an  option  to  the
holder  to convert back to shares at 48.84 pence in 2004 and
52.59 pence in  2005.  This  is an attractive offer which, if
it  proves popular,  will be repeated in future years. GPG
shareholders will  thus  have regular opportunities to redeem
shares at a premium  to  market, but which, equally, does not
disadvantage long term holders.

Whether  the  same  level of profit can be  achieved  in  2003
depends to some extent upon the certainty and timing of events
beyond  our  control.  More importantly, we are  confident  of
continuing  to fulfil our commitment to the steady enhancement
of long term shareholder value.

Ron Brierley
CHAIRMAN
London, 14 March 2003

Enquiries:

Guinness Peat Group plc                         020 7236 0336
Blake Nixon, UK Executive Director

Weber Shandwick Square Mile                     020 7067 0700
Kevin Smith/Josh Royston


GUINNESS PEAT GROUP PLC
CONSOLIDATED PROFIT AND LOSS ACCOUNT

Year ended 31 December                                  2002              2001
                                                   Unaudited         Re-stated
                                                        #000              #000

Turnover: group and share of joint ventures          335,552           309,697

Less: share of joint ventures                         (2,954)           (5,524)
                                                  -------------    -------------
Continuing operations                                332,598           304,173

Acquisitions
    Turnover: group and share of joint ventures      165,935                 -

    Less: share of joint ventures                    (39,985)                -
                                                  -------------    -------------
                                                     125,950                 -

Group turnover - continuing operations               458,548           304,173

Group turnover - discontinued operations              56,288            46,651
                                                  -------------    -------------
Group turnover                                       514,836           350,824

Cost of sales                                       (425,292)         (268,951)
                                                  -------------    -------------
Gross profit                                          89,544            81,873

Profit on disposal of investments and other
net investment income                                 47,420            60,706

Net operating expenses                               (90,101)          (82,642)
                                                  -------------    -------------
Operating profit - continuing operations              39,488            55,974

Operating profit - acquisitions (excluding
joint ventures and associates)                           332                 -
                                                  -------------    -------------
                                                      39,820            55,974

Operating profit - discontinued operations             7,043             3,963

Group operating profit                                46,863            59,937

Share of operating (loss)/profit of joint ventures      (635)            1,901
Share of operating profit/(loss) of
associated undertakings                                3,169              (630)
                                                  -------------    -------------
                                                      49,397            61,208

Profit on sale of subsidiary - discontinued
operations                                            12,238                 -

Interest payable and similar charges                 (10,546)           (5,301)
                                                  -------------    -------------
Profit on ordinary activities before  taxation        51,089            55,907

Tax on profit on ordinary activities                  (5,203)           (7,355)
                                                  -------------    -------------
Profit on ordinary activities after taxation          45,886            48,552

Minority interests                                    (3,425)           (1,667)
--------------------------------------------------------------------------------
PROFIT ATTRIBUTABLE TO ORDINARY SHAREHOLDERS         #42,461           #46,885
--------------------------------------------------------------------------------
Equity dividends                                      (6,252)           (5,393)
                                                  -------------    -------------
Retained profit for the year                          36,209            41,492
                                                  -------------    -------------
Earnings per ordinary share - basic (pence)            7.00p             7.99p
Earnings per ordinary share - diluted (pence)          5.93p             7.18p
Dividends per ordinary share (pence)                   1.00p             0.91p



GUINNESS PEAT GROUP PLC
CONSOLIDATED BALANCE SHEET

31 December                                             2002              2001
                                                   Unaudited         Re-stated
                                                        #000              #000
Fixed assets
Intangible assets - net negative goodwill            (10,734)           (3,123)
Tangible assets                                       74,349            47,164
Investments                                          256,189           202,082
                                                  -------------    -------------
                                                     319,804           246,123
Current assets
Stocks and development work in progress               13,981            22,596
Debtors                                              128,727            88,920
Investments                                           36,874            24,101
Cash at bank and in hand                             113,827           169,985
                                                  -------------    -------------
                                                     293,409           305,602
Creditors: amounts falling due within one year
Trade and other creditors                           (116,131)         (107,666)
Convertible subordinated loan notes                   (3,863)           (3,863)
Other borrowings                                      (5,404)           (5,035)
                                                  -------------    -------------
                                                    (125,398)         (116,564)

Net current assets                                   168,011           189,038

Total assets less current liabilities                487,815           435,161

Creditors: amounts falling due after one year
Trade and other creditors                               (306)           (1,708)
Convertible subordinated loan notes                   (7,725)          (11,587)
Capital notes                                        (67,765)          (67,502)
Other borrowings                                     (13,672)           (6,868)
                                                  -------------    -------------
                                                     (89,468)          (87,665)

Provisions for liabilities and charges               (15,784)          (12,977)
                                                  -------------    -------------
NET ASSETS                                           382,563           334,519
                                                  -------------    -------------
Capital and reserves
Share capital                                         31,094            53,926
Share premium account                                  1,344            12,857
Capital redemption reserve                                 -             3,863
Other reserve                                        263,761                 -
Profit and loss account                               71,966           246,777
                                                  -------------    -------------
EQUITY SHAREHOLDERS' FUNDS                           368,165           317,423
Minority interests (equity)                           14,398            17,096
                                                  -------------    -------------
CAPITAL EMPLOYED                                     382,563           334,519
                                                  -------------    -------------
Net asset backing per ordinary share (pence)           59.20             53.51



GUINNESS PEAT GROUP PLC
CONSOLIDATED CASH FLOW STATEMENT

Year ended 31 December                                  2002              2001
                                                   Unaudited           Audited
                                                        #000              #000

Net cash inflow from operating activities             75,550            70,451
Dividends received from associates and joint ventures  2,955             2,014
Returns on investments and servicing of finance      (10,148)           (5,516)
Taxation                                              (4,093)           (2,277)
Capital expenditure and financial investment         (58,579)           (5,716)
Acquisitions and disposals                           (19,229)            6,332
Equity dividends paid                                 (1,878)           (1,041)
                                                  -------------    -------------
Cash (outflow)/inflow before management of liquid
resources and financing                              (15,422)           64,247

Management of liquid resources                        85,866           (96,597)
Financing

(Decrease) / increase in debt                        (44,355)           48,170
Issue of ordinary shares, net of buyback expenses      1,670               306
                                                  -------------    -------------
Increase in cash for the year                         27,759            16,126
                                                  -------------    -------------

On  5  July 2002 the Group redeemed the second 10p tranche of  the
convertible  subordinated  loan  notes  through  the  payment   of
#997,000 in cash with the balance of #2,866,000 being satisfied by
the issue of Ordinary Shares.

On 13 December 2002 the shares in the former GPG were acquired by the
former Brunel, as part of a reverse acquisition takeover, in
exchange for an issue of shares in that company.

On 31 December 2002 the Group in effect sold a 19.96% interest in ENZA
Ltd, formerly a 100% subsidiary, in return for an additional
34.12% of Turners & Growers Ltd, formerly a 45.92% associated
undertaking.

Analysis of Changes in Cash
and Liquid Resources During the
Year ended 31 December                                    2002            2001
                                                     Unaudited         Audited
                                                          #000            #000
Opening balance                                        169,985          58,924
Net cash inflow                                         27,759          16,126
(Increase)/decrease in liquid resources                (85,866)         96,597
Increase/(decrease) in bank overdraft                      509            (172)
Currency translation differences                         1,440          (1,490)
                                                  -------------    -------------
Closing balance                                        113,827         169,985
                                                  -------------    -------------



Guinness Peat Group plc
Supplementary information required for Australian Stock Exchange (ASX) Appendix 4B

For the full year ended 31 December                       2002            2001
                                                                     Re-stated
                                                     Unaudited       Unaudited
                                                          #000            #000

Profit on disposal of investments and other
net investment income                                   47,420          60,706

Dividends received from associates                       1,818              80
Other dividends received                                 7,839          10,567

Interest and other income received                       9,170           9,211
Interest and other finance costs paid                   (9,462)         (3,878)
Interest capitalised                                        67             293

Expenses from ordinary activities                     (515,393)       (351,593)

Depreciation                                             8,205           6,326
Amortisation of intangibles:
-----------------------------------------------------------------------------------
Release of negative goodwill (net)                      (1,343)           (422)
Amortisation of other intangibles
-----------------------------------------------------------------------------------
Total amortisation of intangibles                       (1,343)           (422)
-----------------------------------------------------------------------------------

Diluted EPS                                               5.93p           7.18p

Retained profits:
-----------------------------------------------------------------------------------
Retained profits brought forward
  As previously stated                                 248,168         203,341
  Prior year adjustment on change of accounting policy  (1,391)            210
-----------------------------------------------------------------------------------
  As restated                                          246,777         203,551
Net profit                                              36,209          41,492
Scrip dividend alternative                               3,548           3,716
Premium on former Brunel shares                          3,651
Difference between share capital, share premium and other
statutory reserves of combining entities              (221,009)
Currency translation differences (net)                     427          (2,867)
Deferred tax on currency translation differences            36             885
Unrealised gain on sale of subsidiary                    2,490               -
Negative goodwill written back on disposals               (164)              -
-----------------------------------------------------------------------------------
Retained profits carried forward                        71,965         246,777
-----------------------------------------------------------------------------------

Non-current equity accounted investments                52,666          28,642

Non-current tax assets                                  10,890           1,667
Current tax liabilities                                  3,876           4,496



Notes to the Preliminary Announcement of Results for
the year ended 31 December 2002


1.   PRESENTATIONAL CHANGE

The  group has adopted Financial Reporting Standard  19  ("FRS
19")  -  Deferred Tax, which requires that full  provision  is
made  for  deferred  tax  on timing differences,  except  that
deferred tax assets are only recognised to the extent that  it
is   considered  more  likely  than  not  that  they  will  be
recovered.  The  group previously recognised deferred  tax  on
timing  differences which were expected to reverse within  the
foreseeable future. This change has reduced the profit for the
years  to  31 December 2002 and 31 December 2001 by #2.5m  and
#0.7m respectively, and has reduced shareholders' funds as  at
those dates by #3.9m and #1.4m respectively.

2.   MERGER WITH BRUNEL HOLDINGS PLC

On  13 December 2002, Guinness Peat Group plc (now renamed GPG
(UK)  Holdings plc) ("the former GPG") was acquired by  Brunel
Holdings  plc  (now  renamed Guinness Peat  Group  plc)  ("the
former  Brunel" or "GPG")  by  means  of a  Court  Approved Scheme of
Arrangement.  Due to the relative value of the companies,  the
shareholders  in the former GPG received as a  result  of  the
merger  more  than 98% of the share capital  of  the  enlarged
group.   Although the legal form of this transaction  is  that
the  former  Brunel acquired the former GPG, the substance  of
the  transaction  is that the former GPG acquired  the  former
Brunel.   The group's financial statements have been  prepared
accordingly  using  reverse acquisition  accounting.  The  key
features of this basis of consolidation are as follows:
* The  consolidated profit and loss account  includes  the
  results of the former GPG for the year ended 31  December 2002
  and of the former Brunel from the  date  of acquisition.
* The comparative assets, liabilities and results relate to
  the former GPG as at, and for the year ended
  31 December 2001.
* The  share  capital  and statutory  reserves  as  at  31
  December 2002 relate to GPG, but the consolidated profit  and
  loss account reserves are based on the pre-acquisition profit
  and  loss account reserves of the former GPG as reduced by  a
  reverse  acquisition reserve (which represents the extent  to
  which the reserves of the former GPG have been capitalised as
  a result of the reverse acquisition).

3.   OTHER ACQUISITIONS AND DISPOSALS

On  18  April  2002  GPG acquired 100%  control  of  ENZA  Ltd
("ENZA"),   a  New  Zealand  fruit  storage  and  distribution
company.  On 31 December 2002, ENZA was merged with Turners  &
Growers  Ltd ("Turners & Growers"). From 18 April 2002  to  31
December  2002,  ENZA  contributed  #125.9m  to  turnover  and
incurred  a loss before taxation of #3.0m. The merger  between
ENZA and Turners & Growers increased GPG's interest in Turners
&  Growers from 45% to 80%. It also reduced GPG's interest  in
ENZA  from  100%  to  80%. A gain of #2.5m has  been  recorded
within  the Statement of Total Recognised Gains and Losses  in
respect of this reduction in its interest.

During the year the then Turners & Growers Ltd was split  into
two   separate  businesses,  Turners  &  Growers  and  Turners
Auctions Ltd. Turners Auctions Ltd obtained a full listing  on
the  New  Zealand  Stock Exchange and  raised  NZ$6m  in  cash
through a share issue. As a result, GPG's interest was diluted
from 45% to 38%. GPG has recognised a gain of #0.5m on the  7%
reduction in its interest.

Three further associates / joint ventures were acquired during
the year, Nationwide Accident Repair Services plc (a 50% joint
venture) and Dawson International plc (a 30% associate), both
of  which are registered in the UK, and Green's Foods  Ltd  (a
23% associate) which is registered in Australia.

In  October 2002, GPG purchased the minority shareholdings  in
MEM Group Ltd ("MEM") and this subsidiary is now wholly owned.

During  the  year, the group disposed of its interest  in  Joe
White Maltings Ltd under a takeover by Ausbulk. This gave rise
to a profit on disposal of #12.2m.

Since the year-end, MEM has merged its associate, Aurora  Gold
Ltd  ("Aurora"),  with another listed mining  company,  Abelle
Resources  Ltd. This has reduced GPG's effective  interest  in
Aurora to below 20%.

4.   EARNINGS PER SHARE

Basic  earnings per share is calculated on a net  basis  using
the  earnings attributable to ordinary shareholders of  #42.5m
(2001: #46.9m as restated) and the weighted average number  of
ordinary  shares  in issue during the year  of  606.6m  (2001:
586.7m)  and  amounts  to  7.00 pence  (2001:  7.99  pence  as
restated).   For this purpose, the weighted   average   number
of   shares  represents   the  number  of  the  former   GPG's
shares  in  issue up to 13 December 2002 and the number of GPG
shares in issue from that date. The shareholders in the former
GPG  received 1 share in GPG for each of their existing shares
in the former GPG as part of the reverse acquisition described
earlier.  Earnings  per  ordinary share  for  2001  have  been
adjusted for the 2002 Capitalisation issue of shares.

For diluted earnings per share, the weighted average number of
ordinary  shares in issue is adjusted to assume conversion  of
all  dilutive  potential ordinary shares, being share  options
granted  to  employees,  Convertible Loan  Notes  and  Capital
Notes.

5.   DIVIDEND

No  final  dividend  is  recommended for  the  year  ended  31
December  2002.   The  Directors  have  declared  an   interim
ordinary  dividend of 1.00 pence per share payable on  19  May
2003  and making a total of 1.00 pence per share for the year.
This  is subject to a right for shareholders to elect, instead
of  the  cash dividend, to receive one new ordinary share  for
every  50 existing shares held at the appropriate record date.
An  interim  dividend of 0.91 pence (adjusted to  reflect  the
2002  Capitalisation  Issue) in respect  of  the  year  to  31
December  2001  was  paid on 13 May 2002  to  the  former  GPG
shareholders.

There  are  local regulatory differences in the  countries  in
which  the  Group's  shares are listed, which  can  result  in
different  taxation  treatment and timing.  This  may  have  a
significant  effect on the tax treatment of the  dividend  for
shareholders resident outside the UK. Shareholders are advised
to obtain their own professional advice.

6.   PROPOSED YEAR END TIMETABLE 2003

An  Extraordinary General Meeting of the Company will be  held
on  15  May  2003  to  consider the proposed Capitalisation Issue.
A circular will be posted in late April which  will contain details
of the Interim Dividend, the Scrip Dividend  Alternative  and the
Capitalisation  Issue  together with Notice of EGM.

In  order to accommodate the different market practices of the
London  Stock  Exchange  ("LSE"),  Australian  Stock  Exchange
("ASX")  and New Zealand Stock Exchange ("NZSE"), being  those
markets  on  which  GPG's shares are  quoted  and  subject  to
approval  of  the  Capitalisation Issue by  shareholders,  the
Stock Events timetable will be as follows*:

Preliminary  announcement of  results,  interim
dividend  and  Scrip Dividend  Alternative  and
Capitalisation Issue                                14.03.03
Shares marked ex-dividend (ASX)                     24.03.03
Shares marked ex-dividend (UK)                      26.03.03
Record date for dividend                            28.03.03
Head securities quoted ex-dividend (NZSE)           31.03.03
Post  out  Circular with Forms of Election  for
the Scrip Dividend and Notice of EGM                29.04.03
Final date for receipt of Scrip Dividend elections  12.05.03
Final date for receipt of EGM proxies (48 hours
in advance of the EGM)                              13.05.03
EGM (11:00am UK time)                               15.05.03
Allotment of Scrip Shares (5:00pm UK time)          16.05.03
Payment of Cash Dividend **                         19.05.03
Update of UK CREST accounts (5:00am UK time)        19.05.03
Dealings commence in Scrip Dividend Shares          19.05.03
Dispatch of FASTER mailings notifying NZ holders
of the change in holdings following the Scrip
Dividend allotment                                  19.05.03
Dispatch  of  Scrip Dividend Share Certificates
(UK) and holding statement (AUS)                    19.05.03
Shares  marked  Ex-Capitalisation  on  ASX  and
traded on deferred settlement basis                 19.05.03
Record date for Capitalisation Issue                23.05.03
Head shares marked Ex-Capitalisation in NZ          26.05.03
Dealings commence in Capitalisation Shares on a
deferred basis on NZSE                              26.05.03
Allotment of Capitalisation (5:00pm UK time)        27.05.03
Last day of deferred settlement trading on
ASX and NZSE                                        27.05.03
Update of UK CREST accounts (5:00am UK time)        28.05.03
Shares marked Ex-Capitalisation in UK               28.05.03
Dealings commence in Capitalisation Shares          28.05.03
Post  out  Capitalisation  Shares  Certificates
(UK) and holding statements (Australia)             28.05.03
Dispatch  of FASTER statements in NZ  notifying
NZ  holders  of  change in  holdings  following
Capitalisation Issue                                30.05.03

Notes:

*Actions  take  place  on  all three  Exchanges  on  the  date
specified unless otherwise indicated.

**  The  cash  payment  will be made to  Shareholders  on  the
Australian  and New Zealand share registers in  Australia  and
New  Zealand dollars respectively, calculated at the rates  of
exchange   ruling  at  4:30pm  (UK  time)  on  12  May   2003.
Shareholders  on all three registers will have the opportunity to
elect  for  one  of the other two currencies, and  a  circular
containing  further information and a currency  election  form
will be circulated with the Notice of EGM.

To ensure the integrity of the registers over record dates and
'ex'  dates  the 3 registers will be closed for  transmissions
between the registers at certain times.

7.   ISSUES OF SHARES

Former GPG 10p shares in issue 1 January 2002      539,255,890
Exercise of options                                  5,636,922
Scrip dividend alternative                           7,094,991
Capitalisation issue                                55,122,742
Conversion of CLNs                                   6,286,786
                                                  --------------
Total former GPG 10p shares in issue 13 December
2002,swapped for GPG 5p shares                     613,397,331
Former Brunel 5p shares in issue prior to merger     8,490,910
                                                  --------------
Total GPG 5p shares in issue 31 December 2002      621,888,241
                                                  --------------

On  14 February 2003 GPG allotted 2,886,368 Ordinary Shares of
5p each as a result of the conversion of 4,378,034 Convertible
Loan Notes.  These shares were not entitled to participate  in
any  dividend  declared, paid or made for the  year  ended  31
December  2002.  As the Board does not intend to declare,  pay
or  make  any  dividend for the year ended 31  December  2002,
other than the 1.00p interim dividend, GPG confirms that these
shares will merge pari passu with all other 5p Ordinary Shares
of  the Company following the relevant record date set out  in
the timetable.

8.   SIMPLIFIED BALANCE SHEET

The simplified group balance sheet presented in the Chairman's
Statement  shows  GPG's share of the net assets  of,  together
with  the  goodwill  attributable  to,  certain  subsidiaries:
Staveley   (including  Staveley  Inc),   Turners   &   Growers
(including ENZA), MEM and Canberra Investment Corporation
rather  than  their  respective assets and  liabilities.   The
group's  remaining net assets are shown at their  book  value.
The  net  assets attributable to Staveley exclude the cash  it
held  but  which is generally available to GPG for  investment
purposes;  such cash is presented instead within the aggregate
cash  balance. The shareholders' funds are those  reported  in
the published balance sheet.

9.   OFFER FOR COATS PLC

On  3 March 2002, Avenue Acquisitions plc, a UK unconsolidated
joint venture company in which GPG has an effective 50% voting
interest,  announced a recommended bid for  Coats  plc  at  56
pence  plus  an interim dividend of 2.5 pence per Coats share.
The bid  values Coats plc at #414.2m.

10.  NON-STATUTORY ACCOUNTS

This   announcement   does  not  constitute   full   financial
statements.  The Company's full financial statements  for  the
year  ended 31 December 2002 have not yet been signed  by  the
auditors.   The  financial  information  for  2001  has   been
extracted from the latest published accounts, as adjusted  for
the  implementation  of  FRS 19.   These  accounts  have  been
delivered  to the Registrar of Companies.  The report  of  the
auditors  on  the 2001 accounts was unqualified  and  did  not
contain  a statement under s237(2) or s237(3) of the Companies
Act 1985.



                      
                      This information is provided by RNS
            The company news service from the London Stock Exchange

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