Acquisition

Dunedin Enterprise Inv Trust PLC
09 February 2004


For Release                         7.00am                      9 February 2004


                    Dunedin Enterprise Investment Trust PLC

 Acquisition of 20 per cent stake in £20m MBO of leisure home producer ABI (UK)
                                    Limited


Dunedin Enterprise Investment Trust PLC ('Dunedin Enterprise' or the 'Trust'),
which specialises in the provision of equity finance for management buyouts,
management buyins and growing businesses, today announces that it has acquired a
20 per cent stake in a new company to acquire ABI (UK) Limited ('ABI') for a
cash consideration of £3.25m. The acquisition will be funded from Dunedin
Enterprise's existing resources.

The total deal value is worth approximately £20m, with Newco backing the
existing management team and the agreed acquisition of the entire issued share
capital of ABI, the leisure home manufacturer.

The acquisition was led by Dunedin Capital Partners Limited ('Dunedin'), the
private equity company with approximately £200m of funds under management.

ABI produces a wide range of leisure homes from its premises in Beverley near
Hull, which it sells to caravan park operators and to dealers throughout the UK.
ABI's main customers include Bourne Leisure, Parkdean, Park Resorts and Devon
Caravans. In the year ended 31 August 2003, ABI had turnover of £32.3m and
operating profit of £2.5m. Net assets at that date amounted to £2.8m.

The management team will be led by Mel Copper as Chief Executive and Andrew
Allwood as Finance Director. Shaun Middleton of Dunedin has been appointed as
non-executive director.

Shaun Middleton, a Director of Dunedin, said:

'We believe that this is an excellent opportunity to back a proven management
team in a buyout of a cash generative business with good market prospects. This
deal is consistent with our primary objective to achieve substantial long term
growth in the Trust's assets through capital gains from its investments.'

Mel Copper, Chief Executive of ABI (UK) Limited, said:

'This MBO, with Dunedin's backing, will allow us to build further on ABI's
position as one of the UK's leading providers of leisure homes to the leisure
park industry. It is excellent news for the company and its employees, customers
and suppliers.'

ENDS

For further information, please contact:

Dunedin Capital Partners Limited
Shaun Middleton, Director             0131 718 2305

ABI (UK) Limited
Mel Copper, Chief Executive           01482 889033

Binns & Co PR Limited
Peter Binns                           020 7786 9600
Diane Stewart                         020 7786 2819
Jacqui Graves                         020 7786 2816


EDITORS NOTES

1 Dunedin

Established in 1983, Dunedin is an independent private equity company owned by
its directors. The company specialises in providing equity finance for MBO's,
MBI's and acquisitions with a transaction size of £10m - £50m. It manages
approximately £200m of funds and it operates throughout the UK from its offices
in Edinburgh and London. It is authorised and regulated in the conduct of its
business by the Financial Services Authority.

2 ABI (UK) Limited

ABI (UK) Limited was originally formed as a result of the merger and subsequent
flotation of ACE International (touring caravans) and Belmont (leisure homes) in
the 1970's. In 1998 the business went into receivership.


The business was then bought in 1998 by Klesch Capital Partners and in January
2001 Mel Copper was appointed Chief Executive and in August 2001 Andrew Allwood
was recruited as Finance Director.


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