Proposed Disposal of Three Businesses

Bemrose Corp PLC
15 June 2000

                                

         Proposed disposal of Bemrose Security Printing,
       Bemrose Promotional Products and Henry Booth Group
                                

- Proposed  disposal  of Bemrose Security  Printing  ('BSP'),
  Bemrose  Promotional  Products ('BPP') and  Henry  Booth  Group
  ('HBG')  to Lloyds TSB Development Capital Limited and  certain
  senior   management  of  these  businesses,  for  an  aggregate
  consideration of up to £28.55 million, of which £2.5 million is
  deferred

- Discussions ongoing regarding the sale of the  Letts  diary
  business

- Proceeds of disposals to be retained for the development of
  the Promotional Marketing division

- Promotional Marketing division continues to perform well

   - Performance well ahead of prior year
   - Strong  growth  in  the  US  internet  business  through
     4imprint.com and in the UK businesses
   - Progressive operational improvements through the integration
     of the UK businesses
   
- Plans  to  change name to 4imprint Group plc following  the
  disposal of all printing interests

Commenting  on  today's announcement, Rodger Booth,  Chairman  of
Bemrose, said:

  'The disposal of BSP, BPP and HBG represents a significant step
  in  achieving Bemrose's strategy of focusing on the Promotional
  Marketing division. The re-investment of the proceeds from this
  disposal and the Letts disposal will significantly enhance  the
  prospects  for  organic  and  acquisition  led  growth  in  the
  Promotional Marketing division'.

This summary should be read in conjunction with the full text  of
the following announcement.

For further information, please contact:

Bemrose Corporation
Rodger Booth, Chairman             01482 867 862
Richard Harrison, Finance Director 01482 867 862

N M Rothschild & Sons Ltd
David Forbes                       0113 200 1900
David Wilton                       0113 200 1900

Buchanan Communication
Mark Edwards                       020 7466 5000


N  M  Rothschild & Sons Limited, which is regulated in the United
Kingdom  by  The  Securities and Futures  Authority  Limited,  is
acting  for  Bemrose  and  no-one else  in  connection  with  the
Disposal and will not be responsible to anyone other than Bemrose
for  providing the protections afforded to its customers  or  for
providing  advice  in  relation to the  Disposal  or  any  matter
referred to in this announcement.



Notes to Editors

- BSP - a major supplier of security and information products
  based  in  Derby - products include vouchers,  cheque  books,
  catalogues and directories

- BPP - a major UK producer of calendars, also based in Derby

- HBG - a major international supplier of travel and leisure
  tickets and bar coded distribution forms and labels for inventory
  management and logistical tracking.  HBG is based in Hull

Promotional Marketing

This  division,  which  now  becomes the  focus  of  the  Group's
operations, supplies a range of products imprinted with corporate
names,  logos  and  messages  used  for  brand  development   and
promotional marketing.  For the year ended 1 January  2000  sales
in the division increased 44% to £75.9 million.

The  division operates in the UK, Germany and the US.  In the  UK
the  business  is  managed under the Broadway  Incentives  Group,
based  in  Manchester.  Customers include Royal and Sun Alliance,
Hertz, Mercedes Benz and Siemens.

The US businesses are spearheaded by Nelson Marketing which sells
via catalogue  distribution  (six  million)  and  the   website
4imprint.com,  the  first  interactive  internet  site   in   the
industry, which is currently receiving over 20,000 visits and 200
orders per week.

                       
         Proposed disposal of Bemrose Security Printing,
       Bemrose Promotional Products and Henry Booth Group


Introduction

At  the time of the preliminary results statement on 3 March this
year,  the Company reported that it would be inviting offers  for
the  Specialist Print Services division.  The Board now announces
that   negotiations  have  been  completed  to  dispose  of   the
businesses and assets (on a debt and cash free basis) of  Bemrose
Security  Printing, Bemrose Promotional Products and Henry  Booth
Group  for up to £28.55 million to Lloyds TSB Development Capital
Limited  and  certain  senior  management  of  these  businesses,
including  Graham Bennington.  The acquisition will  be  effected
through two newly incorporated companies, Inhoco 2060 and  Inhoco
Corporation  (both  of  which are wholly  owned  subsidiaries  of
Inhoco 2059).  In view of its size, the disposal of BSP, BPP  and
HBG   is   conditional,  inter  alia,  upon   the   approval   of
Shareholders.

A  circular  setting  out details of the Disposal  and  a  notice
convening  an  extraordinary  general  meeting  of  Bemrose  will
shortly be posted to Shareholders.

Background to and reasons for the Disposal

Following a review of strategic options by Rothschild, which  was
completed  at the beginning of this year, the Board  reached  the
view that the two divisions of the Company, Promotional Marketing
and  Specialist  Print  Services,  would  benefit  from  separate
development  in  the  future.   In  particular,  growth  in   the
Specialist Print Services division is expected to be more limited
than  that  currently  available from the  Promotional  Marketing
division.  The Board believes that future shareholder value  will
be  maximised by concentrating the Group's managerial,  technical
and financial resources on the Promotional Marketing division.

Since that time, Rothschild  has conducted an extensive marketing
exercise  in  relation  to  the  businesses  which  comprise  the
Specialist Print Services division, with the aim of securing  the
best  possible offers for it.  This process resulted in a limited
number  of  offers  for BSP, BPP and HBG collectively,  the  most
attractive of which was the offer from Inhoco.  In addition,  the
Company  is  currently in discussions regarding the sale  of  its
Letts diary business, which is the only other business within the
Specialist Print Services division.

Information  on  Bemrose Security Printing,  Bemrose  Promotional
Products and Henry Booth Group

BSP is a major supplier of a wide variety of security and
information products, including vouchers, cheque books,
catalogues and directories. BPP is a major UK producer of
advertising calendars and is based at a site in Derby shared with
BSP. HBG, based in Hull, is a major international supplier of
travel and leisure tickets and bar coded distribution forms and
labels for inventory management and logistics tracking.



Summary aggregated financial information for BSP, BPP and HBG for
the three years ended 1 January 2000 is set out below:

                                          1997    1998   1999
                                         £'000   £'000  £'000
                                           
                                                         
Turnover                                60,090  65,643 63,071
Operating profit before central  costs  
and pension credit                       7,511   7,276  5,441 
Net assets                                 n/a     n/a 34,908
                                                        

For the year ended 1 January 2000, central costs of £330,000 were
charged and the pension credit was £1,489,000.

Trading  results for the year to date in respect of BSP, BPP  and
HBG  are disappointing and below the levels achieved at the  same
time  last year.  This is a consequence of the loss of two  large
contracts  to  eurozone based competition, and  a  low  level  of
activity  in  certain  products where customers  built  strategic
stocks  over  the  millennium period.   This  division  has  also
incurred significant development costs in respect of a major  new
contract which will shortly commence full production.

Details of the Disposal

Pursuant to the Disposal Agreement entered into on 14 June  2000,
Bemrose has agreed to dispose of the businesses and assets (on  a
debt and cash free basis) of BSP, BPP and HBG to Inhoco 2060  and
Inhoco  Corporation (both of which are wholly owned  subsidiaries
of  Inhoco 2059), for an aggregate consideration of up to  £28.55
million,  subject  to  certain conditions and  adjustments.   The
£28.55  million  comprises £25.5 million of cash  which  will  be
received on completion, £0.55 million of subordinated loan  stock
to  be  issued  by  Inhoco  2059 and  £2.5  million  of  deferred
consideration  which is subject to the achievement  of  operating
profit targets in 2001, 2002 and 2003.

The subordinated loan stock carries a coupon of 3 per cent  over
the base  rate  of  Lloyds  TSB Bank Plc  payable  by  quarterly
instalments  in  arrears  and is to be  redeemed  in  one  bullet
payment 18 months from completion of the Disposal ('Loan Stock').

Deferred consideration of £833,333 will be payable by Inhoco 2060
to Bemrose in cash or at Inhoco 2060's option in loan  stock  on
the same  terms as the Loan Stock other than as to the  rate  of
interest,  which will be 5 per cent over the base rate of  Lloyds
TSB Bank  Plc and redemption, which will be the date upon  which
the venture capitalist backing Inhoco is repaid under the  terms
of their  loan stock.  The deferred consideration is payable  in
respect  of  each  of 2001, 2002 and 2003, subject  to  operating
profit targets (before pensions charge) of £7,759,000, £8,361,000
and  £8,955,000 respectively being achieved in those  years.   In
the  event  that  such  targets are not  achieved  but  operating
profits  are within £250,000 of the target figure, then  £250,000
will  be  payable  to  Bemrose  in  respect  of  that  year.   No
consideration  will  be payable if the actual  operating  profits
achieved  in those years are not within £250,000 of the  relevant
targets.

The   Disposal   Agreement   contains  certain   warranties   and
indemnities   in   favour  of  Inhoco,  together   with   certain
protections regarding how BSP, BPP and HBG are to be  run  during
the  period  between the exchange and completion of the  Disposal
Agreement.   The  Disposal  Agreement  is  conditional  upon  the
approval of Shareholders and also nothing having occurred between
the  date  of  the  Disposal Agreement  and  completion  of  that
agreement  which has a material adverse effect on the  businesses
being sold.

The  exceptional  loss  on  the Disposal,  assuming  the  initial
consideration  of  £26.05 million is received and  based  on  the
aggregate net book value of BSP, BPP and HBG of £34.9 million  as
at  1  January 2000 and the £12.4 million of goodwill  previously
written off, is £23.25 million after disposal costs of £1 million
and  other  specific provisions of £1 million for  environmental,
litigation  and restructuring costs which will not be transferred
to  the purchaser of BSP, BPP and HBG.  This will be reported  as
an  exceptional item in the profit and loss account for  the  six
months  ending 1 July 2000.  No taxation liabilities are expected
to arise from the Disposal.


Use of proceeds and future strategy of Bemrose Corporation

The  Directors  believe that the prospects for both  organic  and
acquisition  led  growth in the Promotional  Marketing  division,
which  will become the focus of the Group following the  sale  of
Specialist  Print Services, will be enhanced by the re-investment
of  the  net  sale  proceeds after the repayment  of  short  term
borrowings.  A number of investment and acquisition opportunities
are  currently  being  assessed within the promotional  marketing
industry.   If  there  is  a surplus of  disposal  proceeds  over
investment  requirements,  this  surplus  will  be  returned   to
shareholders in due course.

In  order to more fully reflect the continuing activities of  the
Company,  the  Directors intend, in due  course,  to  change  the
Company name from Bemrose Corporation plc to 4imprint Group  plc.
The  current name is more strongly associated with the Specialist
Print Services division that is being sold.

Current trading and prospects

Performance  in the business of the Continuing Bemrose  Group  is
ahead  of that achieved last year, with strong growth in  the  US
internet  business through 4imprint.com and in the UK promotional
marketing businesses.  Operational improvements are progressively
being made in the UK promotional marketing operation through  the
integration  of Bourne Publicity Ltd, Product Plus  International
Ltd  and  Broadway Incentives Ltd.  The Board is  confident  that
further  progress  in  trading will be  made  in  the  Continuing
Bemrose Group during the current year.

Board changes

Following  completion  of the Disposal,  Graham  Bennington  will
resign from his directorships of Bemrose Group companies and from
Bemrose Quest Trustees Ltd. The Board is currently in the process
of  recruiting  a  new  non-executive director,  with  experience
specific to the Company's continuing businesses, to replace Brian
Ford  who retired immediately following the recent annual general
meeting.  Rodger  Booth  will become  non-executive  chairman  of
Bemrose following the disposal of Letts.


For further information, please contact:

Bemrose Corporation
Rodger Booth, Chairman             01482 867 862
Richard Harrison, Finance Director 01482 867 862

N M Rothschild & Sons Ltd
David Forbes                       0113 200 1900
David Wilton                       0113 200 1900

Buchanan Communication
Mark Edwards                       020 7466 5000

N  M  Rothschild & Sons Limited, which is regulated in the United
Kingdom  by  The  Securities and Futures  Authority  Limited,  is
acting  for  Bemrose  and  no-one else  in  connection  with  the
Disposal and will not be responsible to anyone other than Bemrose
for  providing the protections afforded to its customers  or  for
providing  advice  in  relation to the  Disposal  or  any  matter
referred to in this announcement.

                           APPENDIX I
                                
                           DEFINITIONS
                                
The  following  definitions apply throughout  this  announcement,
unless the context otherwise requires:

'Bemrose' or 'Bemrose    Bemrose Corporation plc
Corporation' or 'the
Company'
                         
'Bemrose Group' or       Bemrose Corporation and its
'Group'                  subsidiary undertakings
                         
'Board' or 'Directors'   the board of Directors of Bemrose
                         
'BPP' or 'Bemrose        Bemrose Promotional Products, a
Promotional Products'    division of Broadway Incentives
                         Limited
                         
'BSP' or 'Bemrose        Bemrose Security Printing, a
Security Printing'       division of Broadway Incentives
                         Limited
                         
'Continuing Bemrose      the Bemrose Group following
Group'                   completion of the disposal of
                         BSP, BPP and HBG
                         
'Disposal'               the proposed disposal of BSP, BPP
                         and HBG
                         
'Disposal Agreement'     the conditional agreements dated
                         14 June 2000 between the Bemrose
                         Corporation, Broadway Incentives
                         Limited and HBG International,
                         Inc and Inhoco 2059,  Inhoco 2060
                         and Inhoco Corporation
                         
'HBG' or 'Henry Booth    Henry Booth Group, a division of
Group'                   Broadway Incentives Limited,
                         which also includes the business,
                         assets and liabilities of HBG
                         International, Inc in the United
                         States of America
                         
'Inhoco'                 Inhoco 2059 and its subsidiary
                         undertakings, for this purpose
                         being Inhoco 2060 and Inhoco
                         Corporation
                         
'Inhoco 2059'            Inhoco 2059 Limited, the parent
                         company of Inhoco 2060
                         
'Inhoco 2060'            The Henry Booth Group Limited,
                         formerly Inhoco 2060 Limited
                         
'Inhoco Corporation'     Inhoco Corporation, a company
                         incorporated in the state of
                         Georgia, in the United States of
                         America and a wholly owned
                         subsidiary of Inhoco 2059
                         
'Letts'                  the Charles Letts diary business
                         
'Ordinary Shares'        ordinary shares of 38 6/13 pence
                         each in the capital of Bemrose
                         
'Rothschild'             N M Rothschild & Sons Limited
                         
'Shareholders'           the holders of Ordinary Shares
                         
'Specialist Print        the division comprising the
Services'                business of BSP, BPP, HBG and
                         Letts