GMH Gaming VC Hldgs

RNS No 7797x
GROSMONT HOLDINGS PLC
14 June 1999


On 11 June 1999 Oliver Vaughan, the non-executive chairman of Grosmont
Holdings PLC ("Grosmont"), notified Grosmont pursuant to Sections 198 and 324
of the Companies Act 1985 that on 11 June 1999, he:

1. sold 2,500,000 ordinary shares in Grosmont of 1p each ("Ordinary Shares")
at 2.5p per share.

2. sold 20,000,000 warrants to subscribe for Ordinary Shares at a price of
2.5p per Ordinary Share at any time up to 31 May 2004 ("Warrants") for an
aggregate  consideration of #5,000.

3. he assigned for no consideration his rights under a deed of grant dated 2
June 1997 whereby Grosmont granted to him the right to subscribe for 5,000,000
Ordinary Shares for a price of 2.5p each at any time up to and including 31
May 2002  and to be issued a further 20,000,000 Warrants.

4. he assigned for #1 his rights under an option agreement dated 18 June 1997
whereby Grosmont granted to him the right to subscribe, at 2.5p per share, at
any time before 17 June 2004 for such number of Ordinary Shares as is equal to
3 1/3 per cent of the issued share capital of Grosmont at the time he
exercises the option.

Mr Vaughan retains 2,500,000 Ordinary Shares (representing 2.5 per cent of the
issued share capital of Grosmont) and therefore his holding is now below 3 per
cent of the issued share capital of Grosmont. 


END

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