Acquisition of e-Business Exhibition

ITE Group PLC
16 February 2000



                    ITE Group PLC

Acquisition Of The U.K.'s Premier E-Business Exhibition


ITE Group Plc ('ITE'), the international exhibition
specialist, is pleased to announce its expansion into
the UK exhibition market and the fast growing e-
commerce sector, through the acquisition of the 'E-
Business' exhibition from Redman Media Ltd, for a
consideration capped at £10 million.

'E-Business', the U.K.'s premier e-commerce exhibition,
was launched in 1996 and has developed into the most
established and largest e-business specific exhibition
in the UK. Today ITE has entered into an agreement with
its owner, Redman Media Ltd, to acquire the exhibition.
The total cash consideration will be based on a
multiple of 5 to 7 times pre tax profit of the 2000
event. The maximum consideration will be capped at £10
million. The 1999 event made a pre tax profit of over
£250,000. It is forecast to more than double in size
from last year's event to 4,000 sqm of sold space. The
acquisition will be earnings enhancing in the current
year.

The year 2000 edition of 'E-Business' will be held at
the National Exhibition Centre (NEC), Birmingham, on 19
- 21 September. Clients at last year's event included
key industry players, BT, Compaq, Microsoft and
Telewest, as both exhibitors, visitors and sponsors.
Part of the event's success is based on its longevity,
with many North American exhibitors using 'E-Business'
as their entry point into the UK and mainland Europe.

This acquisition is a particularly significant move for
ITE as it represents the Company's first e-business
exhibition. The Company's development strategy will
concentrate on replicating the success of this e-
business event across Europe and its established
geographic markets. Specifically, it is the Company's
intention to launch similar shows in 2000 and 2001
alongside some of its information technology and
telecommunications shows in Central Europe, Turkey,
Egypt and China. ITE is the leading exhibition
organiser in the CIS, Central Asia, Trans Caucasus,
Middle East and Eastern Europe. Since October, ITE has
dramatically expanded its geographical base through
acquisitions of exhibition organising companies in
Turkey, Egypt, Poland, Bulgaria, the Czech Republic and
Slovakia and its wide network of partners will
facilitate the launch and replication of the E-Business
event.

Redman Media  will continue to work closely with ITE in
an advisory capacity to ensure that the 2000 event will
achieve the high standards of previous years and fulfil
the expectations of both exhibitors and visitors. They
will also assist ITE in its strategy for the rapid
development and replication of 'E-Business'.

Commenting on the acquisition ITE Chairman, Lawrie
Lewis said, 'E-Commerce and the Internet have already
proved to be the fastest growing market in 1999 and
will grow even faster in 2000 and onwards. I am
delighted that this acquisition puts us in an ideal
position to capitalise on this growth. E-commerce is
only just emerging in the countries where we have a
presence and we intend to be the leader in this
specialised media application within twelve months'.


Company summary:
ITE Group plc is a leading international exhibition and
conference organiser in the CIS, Eastern Europe, Middle
East and Turkey. Through its world wide network of
offices and partners, it will organise over 250 trade
events in 25 countries this year.



For further information, please contact:

ITE Group Plc
Lawrie Lewis   -    Chairman                       0171 596 5000

Greg Ward      -    Business Development Director  0171 596 5000

Odette Jonkers -    Group PR Manager               0171 596 5253

Buchanan Communications
Richard Oldworth/Isabel Petre                      0171 466 5000