Result of Equity Issue

Cater Barnard PLC
25 February 2002


                               Cater Barnard plc

                                ('the Company')


On 1 February 2002, the Board of the Company announced the terms of a placing of
395,000,000 new ordinary shares and an open offer of 360,691,520 new ordinary
shares at an issue price of 1p per share to raise in aggregate up to £7,556,915
(before expenses) to provide funds for the purposes of repaying £3.95 million of
loan notes and for working capital.


The Board of the Company is pleased to announce that by 3.00 p.m. on 22 February
2002, being the latest time and date for receipt of application forms and
payment in full under the open offer, 70,027,628 new ordinary shares, offered
via the open offer, had been applied for by qualifying shareholders, including
those new ordinary shares for which irrevocable undertakings had been received.
A further 395,000,000 new ordinary shares have been subscribed for under the
placing.

Under the terms of the underwriting agreement, Seymour Pierce Ellis Limited has
placed with its clients a further 64,902,084 new ordinary shares at 1p each.

Accordingly, a total of 134,929,712 new ordinary shares are to be issued under
the open offer which, at the issue price, amounts to £1,349,297.12 before
expenses.

Application has today been made for a total of 542,522,288 ordinary shares,
representing 529,929,712 new ordinary shares to be issued in respect of the
placing and the open offer referred to above and 12,592,576 new ordinary shares
as consideration for the acquisition of 3,333,330 ordinary shares of Cater
Barnard (USA) plc.


Dealings in the new ordinary shares are expected to commence on 4 March 2002.
The Placing, Open Offer and Acquisition are conditional on the passing of the
relevant resolution at the Extraordinary General Meeting of the Company to be
held at 10.00 a.m. on 1 March 2002.



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