Result of Equity Issue

Millfield Group PLC
01 August 2003

Millfield Group plc ("Millfield" or the "Company")

Result of Placing and Open Offer



On 9 July the Company announced a placing and open offer of 20,512,996 new
ordinary shares of 0.175p at 49.5p per share to raise approximately £8.85
million (net of expenses).


Today the Company announces that, following the closing of the Open Offer, valid
applications have been received from qualifying shareholders for 7,890,978 new
ordinary shares, representing approximately 38.47 per cent. of the new ordinary
shares which were made available for take up by qualifying shareholders under
the open offer. The balance of 12,622,018 new ordinary shares will be taken up
by institutional investors with whom they were placed subject to recall to
satisfy valid applications by qualifying shareholders under the open offer.



The new ordinary shares are expected to be admitted to trading at 8.00am on 5
August 2003.



Enquiries:



Millfield Group plc

Paul Tebbutt, Chief Executive                           Tel:  [phone]
Harry Roome, Finance and Operations Director            Tel:  [phone]


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


Redleaf Communications
Emma Kane/Katherine Sharkey                             Tel: [phone]
                                                        Mob: [phone]


1 August 2003




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