Offer Document Posted

Hill & Smith Hldgs PLC
11 October 2000


Not  for  release, publication or distribution in or into  the
United States of America, Canada, Australia or Japan

Hill  &  Smith Holdings PLC - Recommended Offer by Old  Mutual
Securities on behalf of Hill & Smith Holdings PLC  for  Ash  &
Lacy plc (the 'Offer')

Hill  & Smith Holdings PLC ('Hill & Smith') announces that  it
is  today posting the Offer document, listing particulars  and
circular in relation to its Offer for Ash & Lacy plc.

Acceptances should be returned as soon as possible and, in any
event, so as to be received by 3.00pm on Wednesday 1 November,
the first closing date of the Offer.


Press enquiries:

Hill & Smith
David Winterbottom (Chairman) 01902 357910
David Grove (Chief Executive)

Old Mutual Securities
Richard Welton           0121 710 4501


Old  Mutual  Securities,  which is  regulated  in  the  United
Kingdom  by  The Securities and Futures Authority Limited,  is
acting  exclusively  for  Hill & Smith  and  no  one  else  in
connection  with  the  Offer and will not  be  responsible  to
anyone  other than Hill & Smith for providing the  protections
afforded  to customers of Old Mutual Securities or for  giving
advice in relation to the Offer.