Acquisition

Next Fifteen Communications Plc Proposed Acquisition of Credo Communications Next Fifteen Communications Group plc ("Next Fifteen" or the "Company") is pleased to announce that Bite Communications, a subsidiary of Next Fifteen, has entered into Heads of Agreement to acquire the entire issued share capital of Credo Communications ("Credo"). Credo is a strategic communications consultancy co-founded by ex-Firefly Director David Hargreaves and by Nick Rappolt, ex-Firefly Account Director in 2003. Credo's Managing Director, David Hargreaves, is to take over as Managing Director of Bite's UK operations. Prior to setting up Credo, David spent 11 years at Firefly. During his time there he won and worked on a range of B2B and B2C clients including Apple, Compaq, Motorola, Novell, Oracle, Cisco and Fish4. As Deputy Managing Director, he also oversaw its European expansion into France and Germany. Credo's clients include Sage, Hummingbird, CheckPoint, BBC Worldwide, Siemens Business Services and Barclays ClearlyBusiness. The acquisition is to further enhance Bite's presence and reputation in the UK, and strengthens its ability to deliver audience centric PR campaigns. In the year ended 31 March 2005, Credo generated revenue of approximately £254,000 and adjusted earnings of approximately £49,000. It also had net assets of approximately £92,000. A further announcement will be made in due course. Bite Communications, a subsidiary of the Next Fifteen Communications Group, is a 165 strong communications consultancy with offices in London, New York, San Francisco and Stockholm. With a mission to deliver fearless and boundless communications campaigns to its range of B2B and B2C clients, Bite has built its business on developing creative, results orientated campaigns for market-leading blue chip as well as fast growing emerging start-up brands. Its client list includes Apple Computer, AMD, Samsung, Sun Microsystems, Toshiba and Yahoo! Next Fifteen Tim Dyson, CEO 001 415 350 2801 Bridgewell John Craven, Director 020 7003 3000
UK 100

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