Statement re Possible Offer

Braemar Seascope Group PLC
23 December 2004




For immediate release                        23 December 2004


            BRAEMAR SEASCOPE GROUP PLC ('Braemar' or the 'Company')
                       Statement re possible acquisition

The Board of Braemar is pleased to announce that the Company is currently in
exclusive negotiations, which may lead to the acquisition of Seawise Australia
Pty ('Seawise'), a privately owned shipbroking business based in Australia.

Whilst this acquisition would be small in scale and not require shareholder
approval, the Board believes it represents an important opportunity to extend
Braemar's presence in dry cargo and Asia. Should the acquisition proceed to
completion it is anticipated that the consideration will be satisfied by both
the issue of new ordinary shares to the vendors and cash from Braemar's own
existing resources.

A further announcement will be made in due course.

23 December 2004

For further information, contact:

Braemar Seascope Group plc

Alan Marsh                                          Tel [phone]
James Kidwell                                       Tel [phone]
Aquila Financial
Patrick d'Ancona                                    Tel [phone]
Peter Reilly                                        Tel [phone]
Charles Stanley & Company Limited
Philip Davies                                       Tel [phone]



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