Acquisition

Buckland Investments PLC
23 October 2002


                            BUCKLAND INVESTMENTS PLC

                         ('Buckland' or 'the Company')

                         - ACQUISITION OF HOLDSAFE LTD


Buckland has acquired 100% of the issued share capital of Holdsafe Ltd
('Holdsafe') for a total consideration of £ 230,000. The consideration has been
satisfied by the payment at completion of £ 140,000 in cash and by the issue of
£ 90,000 of unsecured convertible loan notes. The notes, which are not listed,
are redeemable at par for cash on 28th February 2003 subject to certain sales
targets being met by Holdsafe for the four month period ended 31st January 2003.
The loan notes may be converted into Buckland shares at 0.75 pence each at any
time between today and 28th February 2003 at the holders' option but in any
event must be converted on 28th February 2003 if the sales targets are not met.

Holdsafe manufactures a wide range of spark ignition electrodes for many of the
world's leading gas appliance manufacturers. The business was founded in 1967
and currently operates from Cornwall. Profits before tax for the year to 31
December 2001 were £ 6,000 (after management charges of £ 48,000) on sales of £
890,000. Following a capital re-organisation, the gross assets at completion
were £ 255,000, the net assets were £ 7,700 and assumed bank indebtedness
totaled approximately £120,000. The company has 21 full time employees and 11
part time workers.

The acquisition of Holdsafe, with its established customer base in the household
gas appliance market, complements Buckland's existing manufacturing activities
in consumer electronics. Significant opportunities have been identified to
increase both Holdsafe's sales and operating margin performance over the medium
term.



Enquiries:

Patrick Rogers

Chairman

Buckland Group plc 07711 420702



John Depasquale

Seymour Pierce Limited 020 7648 8731



                      This information is provided by RNS
            The company news service from the London Stock Exchange