Merger Update

Rowe Evans Investments PLC
01 February 2005




Mergers of Rowe Evans Investments PLC ('Rowe Evans') with each of Bertam
Holdings PLC ('Bertam') and Lendu Holdings PLC ('Lendu') and change of Rowe
Evans' name to M.P. Evans Group PLC ('MPE')


Further to the announcement made on 14 January 2005, the boards of Rowe Evans,
Bertam and Lendu are pleased to announce the sanction by the Court on 1 February
2005 of the two schemes of arrangement being used to implement the mergers.
Consequently, both mergers will become effective tomorrow, 2 February 2005.


As described in the circulars to shareholders of all three companies dated 20
December 2004, on the mergers becoming effective Bertam and Lendu will become
wholly-owned subsidiaries of Rowe Evans.  Existing shareholdings in Bertam and
Lendu will be cancelled and new shares in Rowe Evans will be issued and allotted
to shareholders of Bertam and Lendu.


Application to be admitted to trading on AIM has been made for 23,220,527 new
shares in Rowe Evans and dealings will commence in those shares at 8.00am
tomorrow.  Dealings in Bertam and Lendu shares will cease at the close of
business today.


As of tomorrow, Rowe Evans' name will change to M.P. Evans Group PLC and its
ticker will change from RWEV to MPE.


Share certificates in respect of the new MPE shares will be despatched to
existing Rowe Evans shareholders to reflect the change of name and to former
Bertam and Lendu shareholders on or before 16 February 2005.


The Rowe Evans board intends that all MPE shares will be admitted to CREST and
it is expected that the shares will be so admitted and accordingly enabled for
settlement in CREST on or around 16 February 2005. Accordingly, settlement of
transactions in MPE shares following 16 February 2005 may take place within the
CREST system if any shareholder so wishes.


Following the issue of the 23,220,527 new MPE shares described above, as set out
in the shareholder circulars referred to above, it is intended that 20,792,133
of the issued shares, which will then be held by wholly-owned subsidiaries of
MPE, will be cancelled following which there will be 50,501,466 MPE shares in
issue.

Philip Fletcher               Rowe Evans Investments PLC            01892 516333

Peter Hadsley-Chaplin

Richard Robinow

Bill Staple                   Westhouse Securities                 020 7601 6100

Martin Eales

Richard Morrison

Peter Hadsley-Chaplin         Bertam Holdings PLC                   01892 516333

Philip Fletcher

David Wilkinson

James Harris                  Strand Partners                      020 7409 3494

Warren Pearce

Peter Hadsley-Chaplin         Lendu Holdings PLC                    01892 516333

Philip Fletcher

Derek Shaw

Graeme Thom                   Grant Thornton Corporate Finance     020 7383 5100

Chris Ward

Andrew Hayes                  gcg hudson sandler                   020 7433 8115

Noemie de Andia

                      This information is provided by RNS
            The company news service from the London Stock Exchange           KAFEENSEFE