Merger Update

Rowe Evans Investments PLC ("REI")

Rule 2.10 Announcement - Relevant Securities in Issue

In accordance with Rule 2.10 of the City Code on Takeovers and Mergers, REI
confirms that its current issued share capital comprises 48,073,072 shares of 10
pence each.

The International Securities Identification Number for REI's shares is
GB0007538100.

By order of the board
M.P.Evans (UK) Limited
Secretaries
31 August 2004

Enquiries:     Philip Fletcher
               Peter Hadsley-Chaplin

               Telephone:          [phone]
               Fax:                01892 518639
               E-mail:      [e-mail]