Result of EGM, Placing and Acquisition

Mavinwood Plc
                                  ("Mavinwood" or "the Company")

                              Result of EGM, Placing and Acquisition

The  Board  of  Mavinwood announces that all resolutions proposed at the Company's EGM  held  this
morning were duly passed.

Accordingly,  the  Company's acquisition of Independent Inspections Holdings Limited,  a  national
carpet and upholstery service business which offers a complete and seamless validation/restoration
and  replacement service to the insurance industry throughout the United Kingdom, is  expected  to
complete tomorrow.

The  Company  also  announces  that  it intends, in connection  with  the  acquisition,  to  issue
100,000,000  new Ordinary Shares at 12p per share ("Placing Shares"), raising £12,000,000  (before
expenses).

Application has been made for the Placing Shares and 7,843,137 ordinary shares to be issued as part
consideration for the acquisition to be admitted to trading on AIM tomorrow.

Kevin Mahoney Chief Executive of Mavinwood said:

"This  is  an  excellent acquisition for us and together with ANSA, a  drainage  insurance  claims
specialist, makes us a major provider of services to the insurance industry. It also continues our
strategy  of  building  a  support  services group with a  focus  on  emergency  insurance  claims
management and document storage.

"As  well as funding this acquisition, the Placing provides us with the capacity to pursue further
acquisition opportunities."

Contacts:

Mavinwood plc
Kevin Mahoney, Chief Executive                    020 7661 9650
Michael Vincent, Finance Director                 020 7661 9651

Threadneedle PR
John Coles                                        020 7936 9604

Seymour Pierce Limited
Jonathan Wright                                   020 7107 8000

Mavinwood plc