MEETING: GPG: AGM Statement

10 May 2010 8:30 am

GPG 10/05/2010 MEETING

REL: 0830 HRS Guinness Peat Group Plc

MEETING: GPG: AGM Statement

GUINNESS PEAT GROUP PLC

ANNOUNCEMENT

Results of Shareholder Meeting

Guinness Peat Group plc ("GPG" or the "Company") announces that at its Annual General Meeting ("AGM") held in London on 7 May 2010 at 10.30 a.m., all of the resolutions put to the meeting were duly passed.

Chairman's Statement

Sir Ron Brierley made the following statement:

"I think the focal point of this year's Annual Report is the outlook section which refers to the return of value to shareholders and the intention to have a process in place by the time of today's AGM.

That part is literally true insofar as we do have a process in place and which is no mere formality.

GPG shares are listed on 3 different stock exchanges, we have direct investments and businesses (quite apart from Coats) in 4 countries, and most of the shareholders are in New Zealand but there are, in addition, significant institutional holders in the United Kingdom, Australia, Asia and USA.

Also, GPG is incorporated in the United Kingdom, where corporate bureaucracy is simply spiralling out of control.

That is a model which no longer works for GPG but formulating structural changes where what shareholders already own is not eaten up in excessive taxes and other charges is a very complex equation.

However, we are making progress and will continue to do so.

In terms of GPG's 20 year history, a few more weeks, or months, if necessary, is not critical.

Much better to reach the right conclusion rather than anything more precipitate but recognising that, inescapably, substantial changes cannot be indefinitely postponed.

Shareholders will be kept informed, as and when decisions are made.

In the meantime, GPG in its present form, notwithstanding two bad years behind us, remains in a healthy position with the current share price well supported by net assets of 56p, which we believe to be conservatively stated and prospective for added value."

Proxy Votes

The following valid proxy appointments and associated voting instructions were received prior to the AGM of the Company.

Resolution For Chairman/ Director discretion Total of For and Chairman/ Director discretion Against Votes withheld (note 3) 1. Report & Accounts 423,200,390 122,549,995 545,750,385 205,452,916 16,487,104 2. Remuneration Report 299,352,632 112,250,923 411,603,555 339,475,617 16,611,233 3. Re-appoint Tony Gibbs 580,197,640 112,335,254 692,532,894 47,377,663 27,779,848 4. Re-appoint Ron Langley 577,627,351 114,571,463 692,198,814 46,501,135 28,990,456 5. Re-appoint Auditor 626,614,738 120,900,621 747,515,359 2,122,898 18,052,148 6. Remuneration of Auditor 626,875,207 120,971,785 747,846,992 1,921,052 17,922,361 7. Directors' power to allot Shares 569,679,247 119,357,888 689,037,135 59,117,241 19,536,029 8. Allot Securities re GPG (UK) Holdings plc Step Up Rights 589,025,924 122,862,509 711,888,433 8,992,663 46,809,309 9. 2010 Capitalisation Issue 623,647,242 122,049,814 745,697,056 3,945,513 18,047,836 10. Scrip Dividend Alternatives 624,961,009 122,014,354 746,975,363 2,772,185 17,942,857 11. Disapply Pre-emption Rights 611,511,247 124,191,152 735,702,399 5,812,555 26,175,451 12. Market Purchase of own Shares 625,168,782 122,246,550 747,415,332 2,581,129 17,693,944 13. Call General Meetings at 14 Days' Notice 610,744,804 122,136,438 732,881,242 16,976,651 17,832,512

Notes:

1. As at the date of the AGM, the total number of the Company's ordinary shares in issue and therefore the total number of voting rights is 1,623,414,658.

2. Where shareholders have appointed a person other than the Chairman of the meeting or a director as their proxy with discretion as to voting, those votes have not been included in the figures set out above.

3. A "vote withheld" is not a vote in law and is not counted in the calculation of the votes "against" a resolution.

Chris Healy Company Secretary Guinness Peat Group plc Tel: +44 20 7484 3370

7 May 2010 End CA:00194680 For:GPG Type:MEETING Time:2010-05-10:08:30:17

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