Statement re Subsidiary,etc.

EAGLES PLC
4 October 1999

                          Merger of Sheffield Eagles

Eagles plc ('Eagles') announces that it has sold 75.4% of the share capital of
its  subsidiary,  Sheffield  Eagles  RLFC  Limited  ('Sheffield  Eagles')   to
Huddersfield   Rugby  League  Football  Club  (1994)  Limited   ('Huddersfield
Giants').  The consideration for the sale was 160,571 ordinary  shares  of  £1
each  in  Huddersfield Giants, representing approximately 12.5% of Huddesfield
Giant's enlarged issued share capital.It is Eagles, current intention to
retain these shares as an investment.

Sheffield Eagles operates the Sheffield Eagles professional rugby league club,
which  is  a member of the Super League. For the year ended 31 December  1998,
Sheffield Eagles had  turnover of £1.7 million, losses before taxation  of
£380,000, and net liabilities of £1,062,000.

Following  this  sale,  the principal assets of Eagles comprise  its  minority
shareholdings  in  Huddersfield Giants, Sheffield Eagles and Sheffield  Sharks
Limited.  Its  principal liability is a loan of £1,045,000  due  to  Highfield
Electronics Limited, its holding company.

On  30 September 1999, Eagles announced that it was in talks which may or  may
 not lead to an offer for the entire issued ordinary share capital  of
the  Company.  Those  talks  have now terminated and  there  is  currently  no
proposal from any party to make any offer for the whole or any part of Eagles'
shares.

The  directors of Eagles intend to review the Company's position in the  light
of  the  sale  of the controlling interest in its only trading subsidiary  and
will write to shareholders with some proposals in due course.

Enquiries:     Tim Adams 0114 261 0326