Acquisition

Empresaria Group PLC 07 November 2007 7 November 2007 Empresaria Group plc Acquisition in Chile Empresaria Group plc ('Empresaria' or the 'Group'), the AIM-quoted international staffing and recruitment specialist, is pleased to announce its first move into the South American market. The Group has agreed to acquire 56% of the share capital of Marketing y Promociones Limitada ('Alternattiva') operating under the brand name Alternattiva, a company based in Santiago, Chile and specialising in the provision of outsourced sales and marketing staff. Initial consideration payable will amount to approximately £1m, with a further maximum of approximately £1m payable depending on financial performance in 2008. The consideration is payable in cash. The remaining 44% of the share capital of Alternattiva will continue to be held by the Alternattiva management team. The acquisition is conditional on completion of legal restructuring of Alternattiva's operations and the Group obtaining acceptable bank funding. Completion is anticipated before the end of 2007. In the 2007 calendar year, Alternattiva is expected to generate a profit before tax of approximately CLP307 million (Chilean Pesos) on net fee income of approximately CLP1,572 million (representing approximately £293,000 and £1.5 million respectively, at current exchange rates). The net assets of Alternattiva as at 31 August 2007 were approximately CLP 3.4 billion (representing approximately £3.25 million). The Directors of Empresaria expect the acquisition to be earnings neutral in the first full year following acquisition and modestly earnings enhancing thereafter. Commenting on the acquisition, Miles Hunt, Chief Executive of Empresaria said: 'The acquisition of Alternattiva is a continuation of our international expansion programme and represents the first step towards our stated goal of expanding into the South American market. Alternattiva is well positioned in the Chilean staffing market and, with the combination of management's local expertise and Empresaria's support, offers significant opportunities for further growth.' For further enquiries please contact: Empresaria 01293 649 900 Miles Hunt, Chief Executive Nick Hall-Palmer, Finance Director First City 020 7242 2666 Allan Piper Smith & Williamson Corporate Finance Limited 020 7131 4000 Azhic Basirov / Siobhan Sergeant Notes for editors: Empresaria Group plc (sector Support Services, staffing) provides specialist staffing services across seventeen countries through 40 trading subsidiaries. Empresaria was formed in 1996 by Miles Hunt and its business model is based on the philosophy of management equity which allows founder managers and key staff within Empresaria's subsidiaries to acquire or retain a meaningful stake in the businesses they run or work in. This information is provided by RNS The company news service from the London Stock Exchange
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