Acquisition

Berkeley Berry Birch PLC
16 December 2002

16 December 2002

                            Berkeley Berry Birch plc

             Acquisition of Weston starts IFA consolidation process



Berkeley Berry Birch plc ('BBB'), the national financial services distribution
group whose shares are traded on the London Stock Exchange, today announces the
acquisition of Weston Financial Group Limited ('Weston'), one of the UK's
largest Independent Financial Advisers ('IFA'), for an initial consideration of
£1.85 million, including cash of £1.25 million.  The acquisition is expected to
be earnings enhancing in the current financial year.

The acquisition of Weston is a further step in BBB's strategy as outlined in the
listing particulars issued by BBB in September 2002 when it raised £20 million
from new and existing shareholders.  The IFA sector is undergoing rapid
consolidation and BBB is well positioned to act as a consolidator.



Weston, which is regulated by the Financial Services Authority, dates back to
1961, and has 63 financial consultants operating from eight branches throughout
the UK.  These financial consultants offer a broad range of financial planning
services including: retirement planning; protection insurance; mortgages; estate
planning and wills; and investments to approximately 18,000 clients.



BBB is acquiring the entire issued share capital of Weston for an initial
consideration of £1.85 million, comprising £1.25 million in cash and £0.6
million in new ordinary shares in BBB by the issue of 909,091 new ordinary
shares at 66p per share.  Further consideration up to a maximum of £9.65 million
will become payable to the extent that the level of PBIT achieved by Weston over
the 24 months ending 31 March 2005 exceeds pre-determined levels. The deferred
consideration is payable in two tranches: the first tranche, capped at £3.15
million, would become payable once the result for the period ending 31 March
2004 has been determined; the second tranche would become payable once the
result for the financial year ending 31 March 2005 has been determined.  The
aggregate of initial consideration and all further consideration payable will
not exceed £11.5 million.  Deferred consideration can be settled in any
combination of loan notes and shares at the discretion of BBB (subject to
appropriate authorities).



For the twelve months to 30 June 2002 Weston produced operating profits of
£257,351 on turnover of £6.2 million.  As at 30 June 2002 Weston had audited net
assets of £885,489.  As agreed between the parties the initial consideration of
£1.85 million payable to the vendors will be adjusted to take account of any
increase or decrease in audited net assets at completion above or below
£725,000, any increase being capped at £75,000.



Applications to the UKLA and to the London Stock Exchange have been made for
these new ordinary shares to be admitted to the official list of the UK Listing
Authority and to be admitted to trading on the Official List of the London Stock
Exchange. The acquisition is conditional upon these admissions becoming
effective. Dealings in the new ordinary shares are expected to commence today,
Monday 16 December 2002.







Commenting on the acquisition, Clifford Lockyer, Chief Executive of BBB, said:
'The acquisition of Weston is a positive development in our strategy and
demonstrates that we will be a significant consolidator within the IFA sector.
We promised in September that we would make an important acquisition before the
year end and we are pleased to have delivered on this promise which is revenue
enhancing.  We believe Weston's management team and its strong reputation for
training and lead generation will make it an excellent addition to our Group.'



For further information please contact:



Berkeley Berry Birch plc
Craig Butcher, Group Finance Director         Direct office no. 02476 232005
                                              Mobile no.        07968 486750



Citigate Dewe Rogerson
Patrick Toyne Sewell / Fiona Bradshaw                           020 7638 9571





Notes to Editors

Berkeley Berry Birch plc



•         National Financial Services Distribution Group



•         Top Five Independent Financial Advice (IFA) Group in the UK



•         Formed by the merger of Berkeley and Berry Birch & Noble plc in
          January 2002



•         Listed on the London Stock Exchange, with blue chip institutional
          investor base



•         Raised £20m from institutional investors in October 2002 to fund
          acquisition opportunities



•         Approximately 700 financial advisers producing an annual turnover of
          £55 million.



•         Multi distribution structure which includes financial planning,
          employee benefits, trustee services, network services & insurance 
          broking






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