GUINNESS chairman Tony Greener (right) has made a paper profit of nearly £500,000 sterling after exercising share options at prices well below the current market price for Guinness shares.

Mr Greener bought 100,000 shares under option at 184p each, a further 36,790 shares at 149 1/2p and a further 15,966 shares at 222 1/2p - a total cost of £274,525. The value of these shares in the market is over £759,000 - providing Mr Greener with a paper gain of more than £484,475.