Re Convertible Loan Stock

Intercede Group PLC
3 April 2002


                              INTERCEDE GROUP plc

                         ('Intercede' or 'the Company')

           Variation of Terms of 7% Convertible Unsecured Loan Stock


On 31 March 2000, Intercede issued £450,000 of 7% convertible unsecured loan
stock ('the Convertible Loan Stock').  The Convertible Loan Stock was due to be
redeemed at par, unless previously redeemed or converted, on 31 March 2002.


Intercede today announces that the holders of the Convertible Loan Stock have
agreed to a variation of its terms.  Following this agreement, the Convertible
Loan Stock will now carry a coupon of 5% (reduced from 7%) and will be redeemed
at par, unless previously redeemed or converted, on 31 March 2007.  The
conversion price of 41.4p remains unchanged.



                                                                    3 April 2002



ENQUIRIES:


Intercede Group plc                         Tel. [phone]
Andrew Walker, Finance Director


College Hill                                Tel. [phone]
Archie Berens                               E-mail:[e-mail]
Clare Warren                                E-mail:[e-mail]





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