Acquisition - Replacement

PipeHawk PLC
9 July 2002



The Company announces that the following amendment has been made to the
'Acquisition' announcement released on Monday 8 July at 10:15am under RNS
number 2971Y.

The details of the shares to be issued as part of the initial consideration
payable by PipeHawk should have read 'the issue of 597,015 new ordinary
shares of 1p at 33.5p per ordinary share' rather than 'the issue of 588,235
new ordinary shares of 1p at 34p per ordinary share'. All other details
remain unchanged. The full corrected version is shown below.



                                 PRESS RELEASE

             PipeHawk buys leading underground radar survey company


8 July 2002: PipeHawk, the international leader in the manufacture and
development of ground penetrating radar equipment, today announced the purchase
of Adien Ltd, a private company specialising in the provision of subsurface
radar surveying systems.


The initial consideration payable by PipeHawk is £250,000, satisfied by £50,000
in cash and the issue of 597,015 new ordinary shares of 1p at 33.5p per ordinary
share. Further consideration of a maximum of £300,000 is payable if the audited
pre-tax profits of Adien Ltd exceed £750,000 for the twelve months ending 30
June 2004. Application will be made for the initial consideration shares to be
admitted to trading on AIM. Admission is expected on 15th July 2002


As at 30 August 2001, the date of its last statutory accounts, the net assets of
Adien Limited were £27,200 and the profits before tax were £12,448.


By using PipeHawk's radar system as the core technology, and additionally
incorporating satellite positioning and mobile telephony, Adien has developed a
unique method of mapping underground pipes and cables and locating underground
obstructions.


Adien has over 100 customers including leading utilities and construction
companies. The requirement among these companies for accurate information
underground is continuing to rise dramatically.


Tony Norton, the managing director of Adien, has agreed to join the PipeHawk
board. He said: 'We look forward to working with PipeHawk to expand this service
in the UK. We welcome the prospect of developing service stations across Europe
and further afield to bring this service to a wider international market.'


Tony Norton has entered into a service contract with PipeHawk plc under which he
will receive a salary of £45,000 a year. The service contract is terminable on
twelve months notice given by either party.


PipeHawk's managing director Mike Bushell said today: 'Adien has taken three
years to get its business model into the right position for rapid growth. We see
this acquisition as the first stage in our plan to develop a network of leading
edge technology service companies.'


For further information contact:

Mike Bushell, Managing Director, PipeHawk plc:               01420 590990

Tim Blackstone, Blackstone Business Communications:          020 7251 2544

John Finn or Sam Smith, J M Finn & Co:                       020 7860 6352


                Issued by Blackstone Business Communications


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