Acquisition

Aukett Group PLC
08 March 2005



FOR IMMEDIATE RELEASE                                               8 March 2005


                                AUKETT GROUP PLC

       Proposed acquisition of Fitzroy Robinson Limited, Change of Name,
Proposed waiver of the requirements of Rule 9 of the City Code on Takeovers and
                                    Mergers
                      Amendments to Articles of Assocation
                                      and
                    Notice of Extraordinary General Meeting

1. Introduction

On 30 November 2004, the Board announced that it was in negotiations relating to
a potential acquisition by the Company of Fitzroy Robinson, the terms of which
constitute a reverse takeover under the Listing Rules. The Company's Existing
Ordinary Shares were accordingly suspended from the Official List and from
trading on 30 November 2004, but are expected to be restored tomorrow.

Today, the Company announces that it has reached conditional agreement to
acquire Fitzroy Robinson for £2,277,663 (based on the share price at the close
of business on 29 November 2004, being the day before the Suspension), to be
satisfied by the issue to the Vendors of 72,392,431 New Ordinary Shares,
representing approximately 49.99 per cent. of the Enlarged Share Capital, and
£0.2 million of Loan Stock.

In view of its size, the Acquisition constitutes a reverse takeover pursuant to
the Listing Rules and is conditional, inter alia, on the approval of the
Company's Shareholders, which is to be sought at the Extraordinary General
Meeting. At the Extraordinary General Meeting, the Company will also seek the
approval of the Company's Shareholders for a waiver of the obligation that the
Vendors of Fitzroy Robinson would otherwise have to make a mandatory cash offer
for the Company pursuant to Rule 9 of the City Code.

The Board proposes to change the name of the Company to 'Aukett Fitzroy Robinson
Plc'.

Aukett also announces today its results for the year ended 30 September 2004.


2.              Brief history and description of Aukett

Aukett provides professional design services to the property and construction
sectors. Its services principally comprise architecture, engineering, interior
design, master planning and related disciplines. It has a network of overseas
offices and informal arrangements with overseas partners that enables the Group
to deliver projects for local and international clients throughout Europe.

The Aukett practice was founded in 1972 as an architectural and interior design
partnership. Over the subsequent 16 years the practice was incorporated as a
company and developed into a multidisciplinary integrated design operation by
diversifying into associated disciplines such as engineering, landscaping,
master planning and graphic design. In 1988, the Company listed on the Official
List of the London Stock Exchange. Over the next 14 years, the Group expanded
into Europe, opening offices in the Netherlands, Germany, Spain, France, the
Czech Republic, Slovakia, Poland and Italy.

The added value the Group can offer to clients is two-fold. First, by using its
professional expertise to facilitate the grant of planning permission for
schemes, the Group can significantly increase the value of land on a developer's
books. Secondly, the cost-effective and timely design and delivery of innovative
schemes provide clients with a competitive edge. Fees are usually a negotiated
percentage of the construction value of a project.

The Group actively works with a wide range of notable clients, many of whom have
built up a long term relationship with the Group. Recent and on-going projects
include the award winning interior fit-out of the head office of Diageo, fit-out
of studios and offices for BskyB, design of a new headquarters building for
Norwich Union, refurbishment of property owned by the Royal Bank of Scotland
throughout southern UK and Europe, design of Camden Town tube station in London,
creation of the new National Air Traffic Service headquarters in Portsmouth,
business park developments for Akeler and Slough Estates, design of the Heritage
and Technical Centre for Daimler Chrysler at the historic Brooklands racing
track, design and fit-out of the Radisson SAS hotel at Stansted airport,
development of the Royal Docks in London, design of mixed-use residential scheme
for Asda on the Isle of Dogs in London and master planning the redevelopment and
regeneration of the Millbay Docks area of Plymouth.

In recent years the Company's revenues declined first in the UK and then in
Europe. Aukett's overdraft facility was increased from £1.0 million at 30
September 2000 to £2.3 million at 30 September 2001 and, following a write-off
of some £1.3 million of work in progress, Aukett reported record pre-tax losses
of £2.4 million for the year ended 30 September 2002. These events led to a
restructuring of the Company and the disposal of the most significant loss
making joint ventures, following which a pre-tax profit before exceptional items
of £0.3 million (£0.2 million loss after exceptional items) was declared for the
year ended 30 September 2003. In March 2004, as a significant shareholder in the
Company, Jose Luis Ripoll called for an Extraordinary General Meeting that
resulted in further Board changes, including Mr Ripoll's appointment as Chairman
and Chief Executive.


3.              Recent Financial Information on Aukett

Aukett has today announced its results for the year ended 30 September 2004,
which showed a pre-tax loss on ordinary activities of £1.2 million (2003: £0.2
million) and turnover of £12.1 million (2003: £13.6 million). Net assets at 30
September 2004 were £0.5 million (2003: £1.5 million), and net debt was £1.5
million (2003: £1.9 million). Within this net debt at 30 September 2004, £1.7
million related to a short-term net bank overdraft in the UK and £0.4 million to
cash in overseas subsidiaries.

The financial information set out above has been extracted without material
adjustment from the financial information on Aukett as set out in full in Part
II of a Circular to Shareholders dated 8 March 2005.

Aukett's bank borrowings have been close to its facility limits for some time,
and Aukett has had to manage its working capital accordingly. These
circumstances have hampered the performance of the business and its ability to
invest in the renewal of its infrastructure and in its staff.

The Group currently has an overdraft facility of £2.1million, which is repayable
on demand and available until 31 March 2005. Aukett has agreed increased bank
facilities, conditional on Completion. In the event that the Acquisition does
not complete there is no guarantee that the existing banking facility would be
extended and the Directors would have to consider the Company's future financial
position with its bankers. The Directors believe that the Company would in those
circumstances be provided with additional time to evaluate the options going
forward in respect of the future working capital needs of the Group. In view of
the terms of the new banking facilities, the Board has decided to ask
Shareholders to approve an amendment to the existing articles of associates of
the Company by the deletion of the borrowing restrictions in Article 123.

Aukett's annual report and accounts for the year ended 30 September 2004 will be
posted to Shareholders in due course.


4. Background to the Acquisition

The Directors believe that the Group's brand and design reputation is strong in
its marketplace. In order to increase the value of the business and to take
advantage of new business opportunities, the Board considers that it is
necessary to increase the size and capabilities of the Company, either by an
injection of further capital or by acquisition or merger.

The Board has considered a number of alternative means of delivering this
strategy and has determined that the best option in the interests of the Company
and shareholders is the combination of its business with Fitzroy Robinson, an
architectural practice also based in London. The Board believes that Fitzroy
Robinson's practice complements Aukett's own business operations, that Aukett
will benefit from Fitzroy Robinson's management team and financial stability and
that there are commercial benefits to be derived from their combination that
will enhance both businesses.

On 30 November 2004, in light of the stage of the negotiations then reached
regarding the Acquisition, Aukett requested that its shares be suspended from
the Official List and be suspended from trading by the London Stock Exchange,
pending the publication of this document.


5. Information on Fitzroy Robinson

The Fitzroy Robinson Group provides architectural design, interior design,
master planning and delivery services to major construction projects. Fitzroy
Robinson was founded in 1955 and currently employs some 70 people.

Traditionally, Fitzroy Robinson concentrated its business on commercial office
projects and has worked on a number of 'keynote' buildings in the City and West
End of London. During the last ten years the practice has diversified both
geographically and in its market sectors, with a UK regional office being
established in Bristol and the undertaking of a number of internationally based
projects, mainly in Eastern Europe. In particular, Fitzroy Robinson acquired a
Moscow-based architectural practice, Mikhail Mandrigin Associates, in 2003. The
principal sectors in which Fitzroy Robinson's businesses operate include
workplace, retail, interiors, executive architecture, heritage and hotels.

The type of building projects undertaken has been broadened in recent years and,
in addition to its historical base, Fitzroy Robinson is widening its reputation
in corporate office developments by moving into company headquarters and
business parks. The practice has a number of longer-term clients including Great
Portland Estates plc, Arlington Securities Limited, Fenwick Limited and Land
Securities Plc. Fitzroy Robinson's design base has been strengthened through the
further recruitment of an experienced designer.

Fitzroy Robinson's track record of work on major projects includes, in London:
No.1 Knightsbridge, the Lanesborough Hotel, the Royal Exchange, the London Stock
Exchange and in the regions: Barclaycard's headquarters building in Northampton,
British Telecom's headquarters office in Glasgow, the Arlington Business Park,
Reading, the HBOS new regional headquarters for Clerical Medical in Bristol, and
the award winning Grove Hotel in Hertfordshire.


6. Financial information on Fitzroy Robinson

Fitzroy Robinson's results for the three years to 30 April 2004 and the six
months to 31 October 2004, summarised below, have been extracted without
material adjustment from the Accountants' Report in set out in Part III of a
circular to Shareholders dated 8 March 2005.

                                                          Six months to
                             2002   Year ended 30 April    2004   31 October
                                                   2003                 2004
                            £'000                 £'000   £'000        £'000
Turnover                    5,213                 4,697   4,026        2,291
Operating profit              345                  (891)    196           19
Profit/(loss) on ordinary
activities before taxation    406                  (852)    235         (195)
Cash at bank                1,213                   751     942          659
Net assets                  2,209                   954   1,090          981

Tenant demand in the UK declined from 2001, which resulted in four key projects
being put on hold. These projects have been instructed and are now underway. The
operating profit for the year ended 30 April 2003 is stated after deducting a
charge of £1,757,000 in relation to a contribution by Fitzroy Robinson to the
trustees of the Fitzroy Robinson Employee Benefit Trust, which was paid to a
former employee. As a private company, Fitzroy Robinson has varied payments to
its owner-directors between salary and dividends, thereby giving rise to a
profit trend that may not be representative of underlying performance.


7. Reasons for and benefits of the Acquisition

The Board believes that, in order to strengthen and develop its business, the
Company needs to grow by acquisition or merger. In particular, the Directors
believe that the acquisition of Fitzroy Robinson will:

•              Result in a larger, more financially stable business with a wider
skill base, better able to compete for higher profile projects, thus meeting the
aspirations of both Aukett and Fitzroy Robinson;

•             Improve services to clients by giving them access to a larger pool
of creative talent and a skill set that combines the strengths of both firms;

•              Open up the potential for new business opportunities by taking
advantage of a broadened client network, enhanced client services and wider
geographical spread in both the UK and overseas. Aukett and Fitzroy Robinson
currently have only a small number of overlapping clients.

•              Enhance operational and financial management, achieved by adopting
best practice and disciplines from both businesses;

•              Improve Aukett's financial position by providing access to Fitzroy
Robinson's cash balance and record of stronger financial management; and

•              Offer a broad range of architectural and design services to the
property and construction industry. Fitzroy Robinson has particular expertise
with reference to in-town work, such as heritage (listed buildings) architecture
and in City of London and West End commercial development, which is
complementary to Aukett's strength in out-of-town business parks and non-central
London developments.

It is the intention of the Board to integrate the businesses of Aukett and
Fitzroy Robinson. Although this will give rise to significant non-recurring
costs in the current financial year in relation to property and re-investment,
it should be beneficial to the businesses overall and should facilitate
economies of scale in the short to medium term.


8. Principal terms of the Acquisition

Aukett has conditionally agreed to acquire the entire issued share capital of
Fitzroy Robinson for a consideration of £2,277,663 (based on the share price of
the Company at the close of business on 29 November 2004, being the day before
the Suspension) to be satisfied by the issue to the Vendors of 72,392,431 New
Ordinary Shares, credited as fully paid (representing an interest in the issued
share capital of Aukett of approximately 49.99 per cent. immediately following
Completion) plus £0.2 million of Loan Stock.

The New Ordinary Shares will rank pari passu in all respects with the Existing
Ordinary Shares, including the rights to dividends.

The Vendors have provided customary warranties and tax indemnities to the
Company in connection with the Acquisition. The Vendors will only be liable for
claims made by the Company under the warranties and tax indemnities in the
Acquisition Agreement when such claims, each exceeding £100,000, exceed
£2,000,000 in aggregate and will then only be liable for the excess up to
£277,663, being the difference between the £2,000,000 threshold and the value of
the aggregate consideration received by the Vendors under the Acquisition
Agreement. The £2,000,000 liability threshold is higher, and the £277,663 cap on
claims is lower, than customary for deals of this size. However, the Directors
have accepted the threshold and cap given the Company's current financial
position, the overall merits of the Acquisition and the nature of this
transaction as a merger of two businesses for paper consideration into an
Enlarged Group in which the Vendors will hold approximately 49.99 per cent. on
Completion.

On Completion, Aukett will enter into service contracts with each of Nicholas
Thompson and Raul Curiel for their employment by the Company as Chief Executive
Officer and Director of European Operations, respectively.

Details of these service contracts are as follows:

Nicholas Thompson is currently employed by Fitzroy Robinson but this service
contract will terminate on Completion. Nicholas Thompson is to be employed by
the Company pursuant to a Service Agreement to be executed on the date of
Completion. His employment is to continue until termination by not less that 12
months' notice by the Company or until he reaches the age of 65. If the Company
terminates the Service Agreement within the period of 24 months from Completion
and decides to pay him in lieu of his notice period, it must make a severance
payment to Nicholas Thompson equal to the average of his remuneration in respect
of the three financial years of the Company prior to the termination of his
employment which includes salary, benefits and dividends paid by Fitzroy
Robinson and any payments made pursuant to clause 3.7 of the shareholders'
agreement dated 22 July 2002 between Fitzroy Robinson and A J Murdoch and others
regulating the conduct and affairs of Fitzroy Robinson. Nicholas Thompson, whose
current annual basic salary is £84,000, from 1 May 2005 is to be entitled to an
annual basic salary of £102,500.

Raul Curiel is currently employed by Fitzroy Robinson but this service contract
will terminate on Completion. Raul Curiel is to be employed by the Company
pursuant to a Service Agreement to be executed on the date of Completion. His
employment is to continue until terminated by not less than 12 months' notice by
the Company or until he reaches the age of 65. If the Company terminates the
Service Agreement within the period of 24 months from Completion and decides to
pay him in lieu of his notice period, it must make a severance payment to Raul
Curiel equal to the average of his remuneration in respect of the three
financial years of the Company prior to the termination of his employment which
includes salary, benefits and dividends paid by Fitzroy Robinson and any
payments made pursuant to clause 3.7 of the shareholders' agreement dated 22
July 2002 between Fitzroy Robinson. Raul Curiel, whose current annual salary is
£84,000, from 1 May 2005 is to be entitled to an annual basic salary of £90,000.


9. The strategy for the Enlarged Group

The aspiration of the Enlarged Group is to become in due course a leading
commercial European architectural practice. The Directors and Proposed Directors
believe that the combination of Aukett and Fitzroy Robinson provides a basis on
which to seek this goal.

The architectural market is fragmented with few barriers to entry at the smaller
end of that market. However, the number of firms that can undertake the design
and delivery of large commercial projects for multinational companies,
especially on an international basis, is limited. The Directors and Proposed
Directors believe that the combination of Aukett and Fitzroy Robinson will
present an opportunity to become a key supplier of architectural services to
larger commercial businesses in the UK and the rest of Europe.

In the commercial architectural market, large-scale and mixed-use developments
are becoming more of the norm. Such projects require a depth of skill only
generally available in larger practices with extensive technical skills. The
Directors and the Proposed Directors believe that the Enlarged Group will be
well placed to increase its market share of such work.

The Enlarged Group plans to focus on winning projects in the UK and on improving
the performance of its existing European presence by a more focused strategy.
The Directors and Proposed Directors believe that the position of the Enlarged
Group will be enhanced by the potential benefits of the Acquisition, including
the expansion of its core skills across a wider platform, the increase of its
presence in more diversified markets and the use of a more focussed approach, to
create a stronger European base. The Directors and the Proposed Directors
believe that the service to clients will be strengthened by the benefits arising
from the integration of the two practices. This will include increased
investment in IT infrastructure, a greater pool of expertise and experienced
professionals and improved financial stability.

In the immediate future, the principal focus will be on:

•              Realising the financial benefits from the combination of the two
businesses; and

•              Lowering the operational cost basis through the consolidation of
the London offices of the two businesses into one main site.

Once the above is achieved the Enlarged Group will seek to grow its business
both organically and through the consideration of potential acquisitions, and
seek to extend its UK regional presence in order to capture a larger share of
domestic commercial projects. Other than the integration referred to above, the
Enlarged Group intends to continue and to make no major changes to the
businesses of both Aukett and Fitzroy Robinson and to uphold the employment
rights of the employees of each respective company.


10. The Board and Management

Immediately following Completion, the Board is expected to comprise four
executives and two non-executives, as follows:

Jose Luis Ripoll, Chairman, Arquitecto (aged 39). Jose Luis joined Aukett as
Executive Chairman in 2004. He became a Spanish registered architect in 1990,
training at the Madrid School of Architecture, and worked in the US and Europe
before establishing the architectural practice 'Imagina' in Madrid in 1992.

Nicholas Thompson, Chief Executive, BSc (Hons), MBA, ACMA, (aged 50). Nicholas
currently combines the roles of Managing Director and Finance Director at
Fitzroy Robinson. He joined Fitzroy Robinson in 1994 and became Managing
Director in 2002. In 1993 he led the finance team of Bernard Thorpe & Partners
in a merger with DTC plc, to create one of the country's leading surveying
practices - DTZ plc. He has also held posts at Elsworth Sykes Architecture
Limited and CNC Properties plc.

Patrick Carter, Group Finance Director and Company Secretary, LLB, ACA, (aged
35). Patrick joined Aukett in 2001 and is a chartered accountant and barrister.
He was appointed company secretary in July 2002 and Group Finance Director in
October 2002. Prior to joining Aukett, he worked at Deloitte & Touche.

Raul Curiel, Director of European operations, RIBA, M.ARCH, B.ARCH, (aged 58).
Raul has aMaster of Architecture degree from the University of Minnesota.
Thereafter, he practised for three years in Brazil, predominantly in the retail
and residential sectors. In 1978 he joined Fitzroy Robinson in London, becoming
its Chairman in 2002.

Gerald Deighton, Non-executive director, RIBA, FCSD, FRSA, (aged 73). Gerry
joined Aukett as a partner in 1976 and was appointed executive Chairman upon
Aukett's flotation in 1988. He became non-executive Chairman in 1998 and retired
in 2000. He rejoined the Company as a non-executive director in March 2004. He
is a chartered architect and the former chief executive of the property division
of Burton Group plc.

Lutz Heese, Non-executive director, Dipl. Ing, Architekt, (aged 56). Lutz is the
Chief Executive and owner of ABH-Architecturoburo Heese GmbH with whom Aukett
established its joint ventures in Germany. He became a non-executive director in
May 2004. He currently holds the presidency of the Bavarian Chamber of
Architects in Germany.

Mr Paul Newman and Mr Stephen Embley, both currently executive directors of the
Group, will step down from the Board immediately following Completion of the
Acquisition to concentrate on the development of the UK operation. They will
continue to have key roles in the senior management of the Enlarged Group, as
follows:

Paul Newman, Chairman of the UK Operational Board, RIBA, BA (Arch), (aged 49).
Paul joined Aukett in 1981 and is a chartered architect. Paul became a director
of Aukett's main trading subsidiary in 1990, a group board director in June 2003
and Managing Director of UK operations in May 2004. It is intended that Paul
will chair the UK operational board.

Stephen Embley, Chairman of the UK Regional Management Board, RIBA, DipArch,
(aged 47). Stephen is a chartered architect and joined Aukett in 1986. He was
made a director of the UK operation in 1990 and has headed up the hotels and
leisure business unit since May 2002. He was appointed to the Board in June
2003. It is intended that Stephen will be the Joint Managing Director of UK
operations and will chair the UK regional board.

In order to ensure that responsibility and accountability rests at the
appropriate level, the Group intends to set up separate Operational Boards at
the UK and European level which will steer the day to day management of the
geographical entities.


11. Change of name

It is proposed to change the name of the Company to 'Aukett Fitzroy Robinson
Plc' following Completion. The relevant resolution to implement the Name Change
will be put to the Shareholders at the EGM.


12. City Code on Takeovers and Mergers

The issue of the New Ordinary Shares to the Vendors or Concert Party would
normally give rise to an obligation on the Concert Party to make a Rule 9 offer
to the Shareholders.

No member of the Concert Party currently has an interest in the share capital of
the Company. On completion of the Acquisition, the members of the Concert Party
will hold 72,392,431 Ordinary Shares in aggregate, representing approximately
49.99 per cent. of the Enlarged Share Capital.

The Panel has agreed to waive the obligation to make a general offer that would
otherwise arise as a result of the Acquisition subject to the passing on a poll
by Shareholders (who for the avoidance of doubt do not include members of the
Concert Party) as set out in the Notice of Extraordinary General Meeting.

Following Completion, the members of the Concert Party will between them own or
control more than 30 per cent. but not more than 50 per cent. of the issued
voting share capital of the Company and accordingly, under the City Code, whilst
they continue to be treated as acting in concert any further increase in that
aggregate shareholding will be subject to the provisions of Rule 9 of the City
Code.


13. Key Points for Shareholders' Consideration

Shareholders should note that, as referred to above, the Group has only agreed
on-going banking facilities necessary for its business on the basis the
Acquisition proceeds. Furthermore, the 'going concern' basis upon which the
financial statements to 30 September 2004 have been prepared is considered
appropriate by the Directors on the basis that the Acquisition is completed.

Shortly before entering into the Acquisition Agreement, the Company received an
approach from SMC Group plc requesting information pursuant to the provisions of
the Code that may or may not lead to an alternative proposal to the Acquisition
of Fitzroy Robinson. This recent approach (which could lead to an offer) does
not provide at this stage any indication as to the form, structure, price and/or
other terms and conditions that may result from the approach. The Board has
nevertheless decided to proceed with the Acquisition, given that this
alternative approach is at an early stage and in the light of the Company's
financial position. In the light of this approach, it is a requirement under
Rule 21 of the City Code that the Acquisition be approved by Shareholders and,
accordingly, Resolution 3 will be proposed at the EGM.

The Acquisition of Fitzroy Robinson will provide the Company and its
Shareholders with certainty that the Board will be able to implement its
strategy of carrying out a transaction to further the development of the Group.


14. Recommendation

The Directors consider, in all the circumstances, that the terms of the
Acquisition are fair and reasonable so far as concerns shareholders as a whole.
The Directors have sought advice from Navigator Corporate Finance Limited, who
concur with this view having advised the Directors that the warranty
arrangements under the Acquisition Agreement have limitations that are both
substantial and non-customary for a transaction of this nature, on the basis of
the Board's view that the Company's financial circumstances are such that in
negotiations with the Vendors it had to accept these limitations. The Directors
have also accepted these warranty limitations given the overall merits of the
Acquisition and the nature of this transaction as a merger of two businesses for
paper consideration into an Enlarged Group in which the Vendors will hold
approximately 49.99 per cent on Completion. In providing its advice, Navigator
Corporate Finance Limited has taken into account the Directors' commercial
assessments.

The Directors consider, and have been so advised by Navigator Corporate Finance
Limited, that the waiver of the Vendor's general obligations to make a general
offer for the Company under the Code is fair and reasonable so far as it
concerns Shareholders as a whole. In providing its advice, Navigator Corporate
Finance Limited has taken into account the Directors' commercial assessments.

The Directors believe that the Acquisition, the increase in share capital and
authorisation to allot shares, the Name Change and the changes to the articles
of association of the Company are in the best interests of the Company and its
Shareholders as a whole and unanimously and strongly recommend Shareholders to
VOTE IN FAVOUR OF THE RESOLUTIONS. Each of the Directors who is a Shareholder
has irrevocably undertaken to vote in favour of the Resolutions in respect of
their own beneficial and non-beneficial shareholdings, together being 12,264,777
Ordinary Shares, representing in aggregate 16.93 per cent. of the Company's
Existing Ordinary Shares.


15. Extraordinary General Meeting

In view of its size, the Acquisition is conditional on the approval of
Shareholders. Shareholder approval is also required in view of the Rule 9 waiver
described above. A notice convening an extraordinary general meeting of the
Company has been posted to Shareholders. The EGM will take place at 11.00 a.m.
on 30 March, 2005 at the offices of Speechly Bircham, 6 St Andrew Street, London
EC4A 3LX.

A circular of the Company dated 8 March 2005 comprising an admission document in
respect of the Acquisition (the 'Circular') has been posted to Shareholders and
is available at the registered office of the Company and at the offices of
Speechly Bircham, 6 St Andrew Street, London EC4A 3LX during usual business
hours on any weekday (public holidays excepted) up to and including the date of
the EGM and thereafter until 7 April 2005 and will also be available for
inspection at the EGM for at least 15 minutes prior to and during the meeting.

The Circular has been submitted to the UK Listing Authority, and will shortly be
available for inspection at the UK Listing Authority's Document Viewing
Facility, which is situated at:

Financial Services Authority
25 The North Colonnade
Canary Wharf
London
E14 5HS.

Pursuant to Rule 2.10 of the City Code, the Company has currently in issue
72,421,394 ordinary shares of 1p each, for which the ISIN is GB0000617950.



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