Result of EGM

Pennant International Group PLC
6 March 2002


                    Pennant International Group plc


Pennant International Group is pleased to announce that at the Extraordinary
General Meeting of the Company held today the resolution to approve the Placing
and Open Offer and other related matters was duly passed.

Valid acceptances in the Open Offer were received from existing shareholders in
respect of 3,139,986 new ordinary shares.  The level of take-up in the Open
Offer is sufficiently high to mean that no excess applications will be
satisfied.  The balance of the new ordinary shares the subject of the Open Offer
being, 16,950,014 shares, has been placed with institutional and other clients
of Rowan Dartington.

Under the terms of the Placing and Open Offer Mr Christopher Powell, Chairman,
had a right to subscribe for additional shares to enable him to maintain his
percentage shareholding at up to the level of 32.50 per cent. that he held
immediately before the Placing and Open Offer.  Mr Powell has exercised this
right to the extent of 3,651,019 new ordinary shares providing the Company with
additional funds of £328,591.71.  As a result of this, Mr Powell's aggregate
interest in the Company's ordinary shares is now 32.19 per cent.

In addition to the new ordinary shares described above, the Company has today
approved the issue, pursuant to an employee placing, of a further 222,981 shares
at the placing price, raising an additional £20,068 for the Company.

In aggregate, therefore, the Company is issuing 23,964,000 new ordinary shares
and has raised £2,156,760, before expenses.  Application has been made for these
new ordinary shares to be admitted to trading on AIM.  Dealings in these shares
are expected to commence on 8 March 2002.


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