Acquisition

Parkmead Group (The) PLC
06 December 2007

Thursday December 6th





               THE PARKMEAD GROUP PLC ('Parkmead' or the 'Group')

         Acquisition of 3.07 % stake in Faroe Petroleum plc ('Faroe').



The Parkmead Group plc (PMG) reports that it has acquired 3.07% of the listed
share capital of Faroe (2,277,831 shares).  Faroe Petroleum is an independent
oil and gas company focused on value creation through exploration and appraisal
drilling in the Atlantic Margin (Faroe Islands and UK West of Shetlands), the UK
North Sea, the Norwegian North Sea and the Dutch North Sea.  For the 6 months
ended 30 June 2007 Faroe reported a net loss of £0.583 million and its net
assets as at 30 June 2007 were £51.551 million.  The cost of the acquisition,
which will be settled in cash, is £4.124 million and the effect on Parkmead will
be to reduce its cash resources by the same amount.



The holding represents a strategic stake in the exploration and production
sector for Parkmead.



Commenting on the investment, Niall Doran, Chief Executive of the Group, said:



'This is our second wholly energy focused investment.  We are actively
evaluating further investments and hope to make further announcements in due
course.'











                                     -Ends-

                            For further information:


The Parkmead Group plc                               020 7494 5770
Niall Doran CEO
Gordon Ashworth, CFO

Madano Partnership                                   0207 593 4000
Matthew Moth

Charles Stanley Securities                           0207 149 6482
Rick Thompson




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