Capital Reorganisation

RNS Number:3878I
G.R. Holdings PLC
23 November 2007

                      G.R. (Holdings) Plc (the "Company")

                          Notice of Capital Reduction



The Company proposes to reduce the Company's share capital by the cancellation
of all the authorised and issued 10.5% cumulative preference shares of #1 each
in the capital of the Company ("Preference Shares") and the repayment to the
holders of the issued Preference Shares of the nominal amount paid up on the
Preference Shares together with a sum equal to any arrears or accruals of the
fixed dividend on the Preference Shares which will be calculated to the date of
the return of capital (the "Capital Reduction"). A special resolution to approve
the Capital Reduction (the "Resolution")is to be proposed at a general meeting
of the Company (the "General Meeting") to be held at the offices of Evolution
Securities, 100 Wood Street, London EC2V 7AN at 11:35 a.m. on 20 December 2007,
or as soon as thereafter as the annual general meeting of the Company to be held
on that date shall have been concluded or adjourned.



Notice of the General Meeting is being sent to ordinary shareholders of the
Company today.  Implementation of the Capital Reduction is subject to the
approval of the Resolution by ordinary shareholders at the General Meeting, and
to confirmation by the High Court. Subject to receipt of the necessary approvals
and confirmations, the Company intends to apply to the London Stock Exchange for
the cancellation of trading of the Preference Shares on AIM. It is expected that
the Capital Reduction will become effective on 24 January 2008.  Accordingly,
the last trading day on AIM is expected to be 23 January 2008.



23 November 2007












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