RNS No 8564k
GRAFTON GROUP PLC
2 September 1999


1 September, 1999

                    Notification of Shareholding Under Chapter 2 
                       of part IV of the Companies Act, 1990

Grafton Group Plc ("the Company") has been informed on 31 August 1999 by
Standard Life Investments of Standard Life House, 30 Lothian Road, Edinburgh
that it ceased to have a notifiable interest in the share capital of the
Company.  Standard Life Investments had an interest in 861,663 Grafton units,
at the date of notification, representing 4.99% of the issued share capital of
the Company.  The shares are registered in the name of Ulster Bank Markets
(Nominees) Limited STL 1.

Charles Rinn
Company Secretary
Grafton Group Plc


END

HOLFLFFBKKKEBKE


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