RNS Number:3028N
Grainger Trust PLC
8 July 2003

                       DEALINGS BY DIRECTORS


1)  NAME OF COMPANY

GRAINGER TRUST PLC

2)  NAME OF DIRECTOR

ROBERT HISCOX

3)  Please state whether notification indicates that it is in respect of
    holding of the shareholder named in 2 above or in respect of a
    non-beneficial interest or in the case of an individual holder
    if it is a holding of that person's spouse or children under the
    age of 18 or in respect of an non-beneficial interest

NO.1 - BENEFICIAL

4)  Name of the registered holder(s) and, if more than one holder, the
    number of shares held by each of them. (If notified)

R. J. RIMINGTON AND
SOPHIE CHARLOTTE HAMILTON

5)  Please state whether notification relates to a person(s) connected
    with the Director named in 2 above and identify the connected person(s)

TRUSTEE HOLDING

6)  Please state the nature of the transaction. For PEP transactions
    please indicate whether general/single co PEP and if discretionary/non
    discretionary

SALE

7)  Number of shares/amount of
    stock acquired

-

8)   (N/A %)
    of issued Class



9)  Number of shares/amount
    of stock disposed

150,000

10)  ( 0.6%)
    of issued Class



11) Class of security

25P ORDINARY

12) Price per share

1067P

13) Date of transaction

26 JUNE 2003

14) Date company informed

7 JULY 2003

15) Total holding following this notification

2,500,000

16) Total percentage holding of issued class following this notification

10.1%

     IF A DIRECTOR HAS BEEN GRANTED OPTIONS BY THE COMPANY PLEASE
                    COMPLETE THE FOLLOWING BOXES

17) Date of grant



18) Period during which or date on which exercisable



19) Total amount paid (if any) for grant of the option



20) Description of shares or debentures involved: class, number.



21) Exercise price (if fixed at time of grant) or indication that price
    is to be fixed at time of exercise



22) Total number of shares or debentures over which options held
    following this notification



23) Any additional information



24) Name of contact and telephone number for queries

M P WINDLE

25) Name and signature of authorised company official responsible for
    making this notification

    Date of Notification         8 JULY 2003                        



END






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