Finalisation of Plans to Propose 'CVA'

Billam PLC
17 April 2000


Billam  plc  announces  that  it  is  currently  finalising plans  to  propose
a  Creditors  Voluntary  Arrangement  'CVA'.  Assuming  the  CVA proposals are
accepted by creditors, new investors have been identified that have expressed
interest in recapitalising the Company with a view to requesting that the
suspension of Billam's shares be lifted and using the Company  as  a 'shell'. 
It is expected that this will be achieved by 1 June 2000.