EGM Statement

Mentmore PLC
23 February 2004



For Immediate Release                                  23 February 2004

(Not for release, publication or distribution in or into the United States,
Canada Australia or Japan)

                           MENTMORE PLC ('MENTMORE')

                    RESULT OF EXTRAORDINARY GENERAL MEETING

                                      AND

                              UPDATE ON APPROACHES

The Board of Mentmore is pleased to announce that the proposed disposal of its
49.9 per cent. equity shareholding in IME, authority to make a Tender Offer for
Shares and authority to buy back up to 14.9% of the share capital, announced on
30 January 2004, was approved by Mentmore shareholders at the Extraordinary
General Meeting held earlier today.

Completion is scheduled to take place at the end of February 2004 with the sale
proceeds of £82.5m due at that time. While the Company remains in an offer
period (as defined by the City Code) the Board continues to believe that it is
not appropriate to make firm proposals about the timing of the planned return of
capital to shareholders. The Board will continue to review this position.

On 22 December 2003 the Board of Mentmore confirmed that it had received an 
approach regarding the possible acquisition of the Company and on 12 January 2004
that it had received a number of other approaches. The Board has been evaluating 
these approaches with Bridgewell Ltd, the Company's Financial Adviser, and is 
now in more detailed discussions with a selected number of parties.

There can be no certainty that these discussions will lead to an offer and
shareholders will be informed of developments as appropriate.

Enquiries:

Mentmore plc                                        020 8946 3159
Nick Smith, Chairman
Martin Nye, Chief Executive
Clive Drysdale, Finance Director

Bridgewell Ltd                                      020 7003 3000
Greg Aldridge

Hoare Govett Ltd                                    020 7678 8000
Ranald McGregor Smith

Buchanan Communications Ltd 020 7466 5000
Richard Oldworth/Catherine Miles

                                    - Ends -



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