Moncur Jackson Hits Target

Millfield Group PLC
16 October 2003

Date:                             16 October 2003
On behalf of:                     The Millfield Group plc
Embargoed until:                  Immediate release

MILLFIELD GROUP PLC
Moncur Jackson Achieves Targets and
Secures Total Deferred Consideration Payment

In March 2002, Millfield Group plc ("Millfield") acquired Moncur Jackson &
Associates Limited ("Moncur Jackson"), an IFA employee benefits business based
in Newcastle, for a maximum consideration of £2.2 million.  The Board of
Millfield is pleased to announce that it has now issued 234,657 Millfield Group
plc shares representing the maximum deferred consideration payable under the
terms of the transaction.

The shares have been awarded following the achievement of all the specified
profit and turnover target levels during the 13 month period following
completion.  Under the terms of the agreement, Millfield paid an initial
consideration of £1.875 million and the deferred consideration represents a
further payment of £325,000.

Application for admission of the new shares to trading on the Alternative
Investment Market of the London Stock Exchange will be made and it is expected
that admission of the new shares will take place on 23 October 2003.

Paul Tebbutt, Millfield's Chief Executive, said:

"We are delighted with the performance and results delivered by Moncur Jackson
as part of the Millfield Group.  The business has achieved all the targets
agreed under the terms of the acquisition and is continuing to develop its
extremely innovative approach to advising on and implementing company employee
benefit packages."

For further information please contact:
Millfield Group plc                         Tel: [phone]
Paul Tebbutt, Chief Executive

Collins Stewart Limited                     Tel: [phone]
Simon Atkinson/Stephen Keys

Redleaf Communications                      Tel: [phone]
Emma Kane/James White                       Mob: [phone]

Notes to Editors:

•     Millfield Group plc was floated on the Alternative Investment Market of 
      the London Stock Exchange in March 2001.

•     Millfield is a national independent financial advisory company in the UK, 
      offering truly independent advice, primarily in the pensions, life 
      insurance, investment and mortgage sectors, as well as long-term care 
      provision, personal wealth management and the corporate financial planning 
      arena.  Millfield also has specialist divisions dealing with offshore 
      investment, insurance and employee benefits.

•     Further information is available on the Millfield website:
      www.millfield-partnership.co.uk


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            The company news service from the London Stock Exchange