Acquisition

Spice PLC
29 November 2007

29 November 2007


                                   Spice plc


              Acquisition of Redbridge Management Services Limited


Spice plc ("Spice" or "the Group"), the provider of total utility support
services, is pleased to announce the acquisition of Redbridge Management
Services Limited ("RMS"). RMS will be integrated into our Telecoms business
within our Utility Services Division.


The acquisition of RMS is for an initial cash consideration of £3.1 million. The
price paid represents a multiple of 6 times adjusted operating profit for the
year ended May 2007. Additional contingent cash consideration capped at £1
million will be payable based on the performance of RMS over the twelve month
period ending 28 November 2008.


The initial consideration is subject to a downwards adjustment only based on the
working capital at completion with a maximum downward adjustment of £0.25
million becoming payable to Spice following the production and agreement of
completion accounts. There will be a cap on the maximum total consideration
payable, including contingent consideration, of £4.1 million.


The audited financial statements of RMS for the year ended 31 May 2007 show
turnover of £6.8 million and adjusted operating profits of £0.5 million.  Net
assets at 31 May 2007 were £0.8 million.


RMS was established in April 2001 by its directors, Mark and Sarah Bruce.  RMS
currently employs 68 people. In December 2006, RMS was voted 79th in the Times
list of the top 100 fastest growing Fast-Track privately owned companies in the
UK.


RMS from its headquarters in Chepstow, provides UK wide engineering
infrastructure support services such as 24/7 first line maintenance, network
management, installation and commissioning and project management to
telecommunications equipment manufacturers, telecommunications network operators
and large corporate clients.


Simon Rigby, Chief Executive Officer of Spice, said:


"The acquisition of RMS strengthens our Telecoms Services division and means
that our operational capability is now extended to provide comprehensive, UK
wide, first line maintenance services which compliments our existing UK and
European footprint in Hutchison Team Telecom ("HTT"). We see the addition of
some 58 qualified telecommunications engineers as a significant enhancement to
our existing capabilities and a win, win for our combined client base including
the BT21CN roll out".


Mark Bruce, Managing Director of RMS said:


"The opportunities for accelerated growth for RMS as a part of a much larger
organisation such as Spice was justification alone to do the deal, however I
truly believe that the synergies between RMS and HTT will bring real benefits to
our combined customer base and allow the enlarged business to more readily
compete for larger pieces of the growing European telecoms outsourcing market".



                                      Ends


Enquiries:

Spice plc,                                Tel: [phone]

Simon Rigby, Chief Executive Officer
Oliver Lightowlers, Group Finance Director
Carl Chambers, Corporate Development Director

Financial Dynamics,                       Tel: [phone]

Billy Clegg
Caroline Stewart

KBC Peel Hunt,                            Tel: [phone]
Julian Blunt


NOTES TO EDITORS



Spice plc

Spice is a support services business operating in the Commercial Services,
Public Services and Utility Services sectors. The Group's operations were
founded in 1996 and have their origins in the electricity industry, though the
range of activities has since been expanded into the water sector, niche
telecommunications services, the public sector, energy management and commercial
facilities management. Spice's businesses have a common theme of delivering and
co-ordinating infrastructure services to customers, and the technological
element within the product mix has been built up significantly over the course
of the last three years.



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