Acqn/Rights Issue, etc

Rodime PLC
11 August 2000

                          Rodime plc
                               
                               
     Acquisition of Littlewoods Leisure, Rights Issue and
   Subscription to raise £27.9 million and Change of Name to
                         Sportech plc
                               
                          Highlights
                               
On 27 June 2000 Rodime plc announced its proposed acquisition
of the gaming and betting division of the Littlewoods
Organisation plc.  The consideration is £161.8 million payable
in cash.

The Board of Rodime today announces:

- A proposed 2 for 3 Rights Issue to raise approximately £17.0
million before expenses

- A proposed subscription by Newby Manor Limited, a company
owned by Trevor Hemmings, for new shares in Rodime plc to
raise approximately £11.8 million before expenses, which would
create a 28.4% shareholding for Newby Manor

- The proposed change of name from Rodime plc to Sportech plc
to reflect the new focus of the company

- New Rodime board created including appointment of Roger
Withers, currently executive chairman of Littlewoods Leisure,
as executive director of the enlarged company

- Extraordinary general meeting of the company to be held on
4th September 2000 to seek requisite shareholder approvals.
Irrevocable undertakings to vote in favour of the resolutions
relating to these proposals have been received from Bank of
Scotland and the directors of Rodime who hold shares in the
company

The suspension of dealings in the company's existing ordinary
shares to be lifted following publication of the prospectus.

Colin McGill, Chief Operating Officer of Rodime plc,
commented,

'Rodime has today announced plans which will fund its
acquisition of Littlewoods Leisure.  Our new name Sportech
will reflect the Company's new focus.  We believe that the
market for sports-related gaming is large and growing and that
the acquisition and its funding are in the best interests of
shareholders.'

For further information please contact:

David Ovens
Rodime plc
Tel: [phone]
or 0411 548 231

Todd Nugent
Noble Grossart
Tel: [phone]

Garry Frier
Charterhouse Securities Ltd
Tel: [phone]

Jonathon Brill
Bell Pottinger Financial
Tel: [phone]
                               
              RODIME plc ('RODIME' or 'COMPANY')
                               
                               
INTRODUCTION
On  27  June 2000, the board of Rodime plc ('Board') announced
that Rodime had agreed to acquire Littlewoods Leisure from The
Littlewoods   Organisation   ('TLO')   ('Acquisition').    The
consideration   is  £161.8  million,  payable   in   cash   on
completion.  Littlewoods Leisure is  the  UK's  leading  pools
promoter,  whose operations include football pools,  Spot  the
Ball,  telephone  betting and internet gaming,  lotteries  and
lottery  management.  Pending publication  of  the  prospectus
being  sent  to shareholders today, trading in the  shares  of
Rodime was suspended on 27 June 2000.

The  Board  today  announces the proposed  issue,  by  way  of
rights, of 169,516,590 new ordinary shares of 5p each ('Rights
Issue  Shares') in the capital of the Company ('Rights Issue')
and  the  proposed Subscription by Newby Manor Limited ('Newby
Manor')  for  168,282,663  new  ordinary  shares  of  5p  each
('Subscription  Shares')  in  the  capital  of   the   Company
('Subscription') which will together raise £27.9 million  (net
of expenses).

This announcement sets out details of the proposed Acquisition
and  the proposed financing of the Acquisition, including  the
Rights  Issue  and  the  Subscription.   Further  details  are
contained  in the prospectus being sent to shareholders  today
('Prospectus').

The Board considers the proposed Acquisition to be in the best
interests of shareholders as a whole.  However, in view of the
size  of  the Acquisition relative to the size of Rodime,  the
Listing  Rules  require the Acquisition to be  approved  by  a
simple  majority  of  the  Rodime shareholders  voting  at  an
extraordinary  general meeting of the Company to  be  convened
for  11.00  am  on  4 September 2000 and to  be  held  at  the
Roxburghe  Hotel, Charlotte Square, Edinburgh  ('Extraordinary
General  Meeting').  Bank of Scotland and directors of  Rodime
('Directors'),  who  between them own 52.9  per  cent  of  the
existing  issued  ordinary  share  capital  of  Rodime,   have
irrevocably undertaken to vote in favour of the Acquisition.

The Rights Issue and the Subscription require the approval  of
a majority representing 75 per cent of the Rodime shareholders
voting at the Extraordinary General Meeting.  The Board, which
has  been advised by Noble Grossart Limited ('Noble Grossart')
and    Charterhouse    Securities    Limited    ('Charterhouse
Securities'), considers the Rights Issue and the  Subscription
to  be  in  the best interests of shareholders as a whole.  In
providing  this  advice to the Directors, Noble  Grossart  and
Charterhouse  Securities have taken account of the  Directors'
commercial   assessment   of  the   Rights   Issue   and   the
Subscription.  Bank of Scotland and directors of  Rodime,  who
between them own 52.9 per cent of the existing issued ordinary
share  capital of Rodime, have irrevocably undertaken to  vote
in favour of the Rights Issue and the Subscription.

It  is  expected  that  the  suspension  of  dealings  in  the
Company's  existing ordinary shares will be  lifted  following
the  publication  of the Prospectus and that dealings  in  the
Rights Issue Shares and the Subscription Shares ('New Ordinary
Shares') will commence on 5 September 2000 (in the case of the
Rights Issue Shares, nil  paid).



BACKGROUND TO AND REASONS FOR THE PROPOSALS
Following  the  settlement  with Seagate  Technology  Inc.  in
January  2000,  the Company was, for the first  time  in  many
years,  in a financial position to develop its operations  and
to  consider acquisition opportunities. The initial  focus  of
this strategy lay in the new technologies of the internet  and
the Board considered a number of opportunities before becoming
involved in negotiations for the Acquisition.

In  June 2000, TLO was in exclusive negotiations for the  sale
of  Littlewoods Leisure with Hemway Limited, acting on  behalf
of  Newby  Manor, both companies owned by Mr Trevor  Hemmings.
The  Board  became  aware  of  the proposed  transaction  and,
following discussions with Mr Hemmings, Mr Hemmings introduced
Rodime  to  TLO  as  the  proposed  purchaser  of  Littlewoods
Leisure.  As  part of this arrangement, it was  proposed  that
Newby Manor would subscribe for a significant shareholding  in
Rodime.

The  Littlewoods  Acquisition represents  an  opportunity  for
Rodime  to  acquire an established, profitable  business  with
high  brand  awareness and good cashflow, which also  has  the
potential  to  offer significant benefit from the  appropriate
use  of  new  technology.  The Board intends  to  develop  the
Littlewoods gaming and leisure business through the use of new
technologies  and the development of further  gaming  concepts
with  wider  market  appeal, delivered through  new  and  more
convenient channels.


THE PROPOSALS
Each  of  the  proposals  being put  to  shareholders  at  the
Extraordinary General Meeting is summarised below.  The  Board
is  asking  shareholders to vote in favour of the  resolutions
necessary to approve the Acquisition and to enable the  Rights
Issue  and the Subscription to proceed. The formal resolutions
will  be  set  out in the notice of the Extraordinary  General
Meeting contained in the Prospectus.  The Rights Issue and the
Subscription  will proceed only if a majority representing  75
per  cent of those voting at the Extraordinary General Meeting
vote  in  favour  of  the  special resolution  increasing  the
Company's  share capital to enable the Rights  Issue  and  the
Subscription to proceed and authorising the Directors to allot
the New Ordinary Shares.

Acquisition of Littlewoods Leisure
Under  the  terms of the agreement dated 27 June 2000  between
TLO and the Company (as amended by a variation agreement dated
3rd  August 2000) ('Acquisition Agreement'), Rodime has agreed
to   acquire   Littlewoods  Leisure  from   TLO.   The   total
consideration  for  the Acquisition is £161.8  million,  which
will be paid in cash at Completion. The Acquisition is subject
to  the passing of an ordinary resolution at the Extraordinary
General Meeting. Bank of Scotland and directors of Rodime, who
between  them own approximately 52.9 per cent of the  existing
issued  ordinary  share  capital of Rodime,  have  irrevocably
undertaken  to  vote in favour of that resolution.  Under  the
agreement dated 27 June 2000, the consideration payable to TLO
for  Littlewoods Leisure was £161 million, £9 million of which
was  to  have  been satisfied by the issue  of  a  loan  note,
convertible into shares constituting up to 15 per cent of  the
Company's enlarged ordinary share capital following completion
of the proposals. On 3 August 2000 TLO and the Company entered
into  a  variation agreement whereby TLO agreed to  relinquish
its  conversion  rights and to extend the date  by  which  the
conditions  to  the acquisition agreement are required  to  be
fulfilled,  in  exchange  for  which  the  Company  agreed  to
increase  the  consideration by £0.8 million and  to  pay  the
whole  of  the consideration in cash on completion.  The  cash
consideration  is subject to a pound for pound  adjustment  by
reference  to  completion accounts if the net  liabilities  of
Littlewoods  Leisure at completion are greater  or  less  than
£1.6 million.

Facilities  of  £165 million have been committed  by  Bank  of
Scotland to fund the Acquisition in the first instance. If the
resolution to approve the Rights Issue and the Subscription is
passed,  the net proceeds of approximately £27.9 million  will
be   applied   in   reducing  the  amount  of  the   Company's
indebtedness under these facilities.

The  Acquisition has been structured such that the Company has
agreed to acquire Littlewoods Promotions Limited ('Littlewoods
Promotions'),  the principal business of Littlewoods  Leisure.
TLO has granted Rodime a call option, and has been granted  by
Rodime  a  put  option,  in  respect  of  Littlewoods  Leisure
Marketing  Services Limited, Littlewoods Competitions  Company
Limited and Littlewoods Lotteries Limited and their respective
subsidiaries   ('Other   Leisure  Companies').    Rodime   has
undertaken to Bank of Scotland that it will exercise its  call
option. On the exercise by TLO or Rodime of either of the  put
or call options, TLO will transfer the Other Leisure Companies
to  Rodime. Completion of the acquisition of the Other Leisure
Companies  is  expected  to  take  place  the  day  after  the
completion of the acquisition of Littlewoods Promotions.

Littlewoods Leisure will retain the right, at no cost, to  use
'Littlewoods' as part of its branding for betting, gaming  and
lottery products (but not in relation to casino premises)  for
a period of 10 years from completion.

The Rights Issue
Rodime  is proposing to raise £16,951,660 before expenses,  by
way  of  a rights issue. The net proceeds of the Rights  Issue
will be used to repay part of the bank borrowings used to fund
the  Acquisition.  The  Rights Issue  is  of  169,516,590  New
Ordinary Shares at a price of 10 pence per Rights Issue  Share
and  is  being made on the basis of 2 New Ordinary Shares  for
every 3 existing ordinary shares held at the close of business
on  25 August 2000. Irrevocable undertakings to take up rights
have  been  received from Bank of Scotland  and  directors  of
Rodime  in respect of their entitlements to 43,992,260  Rights
Issue Shares, representing part of the Rights Issue Shares  to
which  the  Directors will be entitled and  approximately  one
half of the Rights Issue Shares to which Bank of Scotland will
be  entitled.   In  addition Bank of Scotland has  irrevocably
undertaken  to renounce its rights under the Rights  Issue  in
respect  of 42,070,665 Rights Issue Shares (representing  24.8
per  cent  of  the Rights Issue Shares) at nil premium.  Noble
Grossart and Charterhouse Securities have agreed to use  their
respective reasonable endeavours to procure subscribers at 10p
per  share  for these Rights Issue Shares, failing which  they
will subscribe themselves for such shares.  The balance of the
Rights Issue has been fully underwritten by Noble Grossart and
Charterhouse Securities.

Subject  to  approval  of  the  relevant  resolutions  at  the
Extraordinary  General Meeting required for the Rights  Issue,
provisional  allotment letters will be dispatched to  Ordinary
Shareholders  (other  than overseas  shareholders  in  certain
jurisdictions) on 4 September 2000.  The latest time and  date
for  splitting provisional allotment letters is 3.00pm  on  21
September 2000 and the latest time and date for acceptance and
payment  in full is 3.00pm on 25 September 2000.  Dealings  in
the  Rights  Issue  Shares,  nil  paid,  will  commence  on  5
September  2000  and in the Rights Issue Shares,  fully  paid,
will commence on 26 September 2000.

The Subscription
Following  the discussions between Mr Hemmings and Rodime  and
the  introduction of the Acquisition to Rodime, it was  agreed
that,  subject to the approval of Ordinary Shareholders, Newby
Manor   subscribe   for   168,282,663  New   Ordinary   Shares
(representing 28.4 per cent of the enlarged share capital). In
recognition  of the assistance of Mr Hemmings in enabling  the
Company  to  reach  agreement for  the  Acquisition,  and  the
benefit  that the Company expects to derive from  Newby  Manor
becoming  a  substantial  shareholder  in  the  Company,   the
Directors  propose that the Subscription should be made  at  a
price  of  7  pence per Subscription Share. This represents  a
discount  of  3   pence per share to the price  at  which  the
Rights  Issue  Shares  will be issued. The  Subscription  will
raise new capital of £11,779,786 (before expenses) and the net
proceeds  will  be used to repay part of the  bank  borrowings
used to fund the Acquisition.
Mr  Hemmings  and his family have substantial interests  in  a
number  of leisure businesses, including Leisure Parcs Limited
(which  owns  the  Blackpool Tower and the Winter  Gardens  in
Blackpool)  and Arena Leisure Plc (which owns a number  of  UK
racecourses),  as well as interests in Hilton  Group  plc  and
Scottish & Newcastle plc.
The  Subscription  and the Rights Issue  are  subject  to  the
passing  of a special resolution at the Extraordinary  General
Meeting. If that resolution is not passed, the funding for the
Acquisition  will be provided solely from the bank facilities.
In  these circumstances, although sufficient funding  will  be
available to the Company, the Board will wish to discuss  with
Bank  of Scotland what steps should be taken to refinance  the
Company's borrowings.

Management and employee incentive scheme
Subject  to  shareholder  approval,  the  Board  proposes  the
adoption  of a share option scheme to be known as the Sportech
Share Option Scheme (the 'Scheme').  A summary of the rules of
the  Scheme  is set out in the Prospectus.  The rules  of  the
Scheme   are  designed  to  comply  with  the  best   practice
provisions  annexed to the listing rules  of  the  UK  Listing
Authority    and    current   guidelines   of    institutional
shareholders. The level of grant to any individual will be  at
the discretion of the remuneration committee of the Board. The
total  number  of ordinary shares over which options  will  be
granted  under the Scheme will not exceed 3 per  cent  of  the
Company's issued ordinary share capital from time to time,  or
such  higher percentage (not exceeding 10 per cent) as may  be
approved by shareholders at a future date.





Change of name and amendment of Memorandum of Association
To  reflect  the new focus of Rodime following the Acquisition
('Enlarged Group'), it is proposed that the Company change its
name  to  Sportech  plc and alter the objects  clause  of  its
Memorandum  of Association to include objects more appropriate
to  its  proposed  new role as a holding company.  Appropriate
resolutions  will be put to shareholders at the  Extraordinary
General Meeting.


Amendment of Articles of Association
The  Company  will  also  propose to  alter  its  Articles  of
Association to restrict the power of the directors  to  refuse
to register transfers of shares which are not fully paid. This
alteration  is  required  to reflect  the  provisions  of  the
Listing  Rules  as  regards  the  transferability  of   listed
securities.

BACKGROUND INFORMATION ON LITTLEWOODS LEISURE
Littlewoods Leisure is the UK's leading pools promoter with  a
market share of approximately 82 per cent according to returns
made  to the Pools Promoters Association. Its operations  also
include  Spot the Ball, telephone betting and internet gaming,
lotteries and lottery management.


Pools
Littlewoods  Leisure currently has approximately  1.3  million
pools customers. Winnings and expenses are paid out of a pool,
the  size of which is limited by the level of stakes.  Despite
the  fact  that revenues have been declining in recent  years,
profits  have  remained  relatively  constant  through  active
management of the cost base and prize fund.

Some  75  per  cent  of  sales  are  made  through  Littlewood
Leisure's  collector network and some 70 per cent of collector
sales are made by door to door collectors. Littlewoods Leisure
currently  has  approximately 28,000  collectors.  Littlewoods
Leisure uses a network of 29 concessions, which have the right
to  distribute  coupons to collectors in a defined  concession
area.  The  concessionaires are the main intermediary  between
Littlewoods Leisure and its collector network. The other  main
sales channel is Pools Direct, where the customer chooses  set
match  numbers and pays by subscription for a fixed number  of
weeks.

Spot the Ball
Spot  the Ball (STB) is a paper-based competition and involves
players  deciding  the likely position  of  a  football  on  a
photograph of a professional football match. The total  weekly
prize  fund  is  £110,000,  with  a  top  prize  of  £100,000.
Approximately 80 per cent of the STB turnover is generated  by
the  pools collector network, with the remaining 20  per  cent
coming from postal entries.


Telephone betting
Littlewoods  Leisure launched its telephone betting  business,
Bet  Direct, in October 1998. Bet Direct, like other telephone
betting operators, offers an alternative method of accessing a
large number of the products available in betting shops across
a  wide  range of sports. Bet Direct already has approximately
134,000 customers and currently has a weekly turnover of  £1.2
million. There are two methods of placing a telephone bet:

-  Credit  account - the customer is allowed to bet  up  to  a
   pre-set credit limit.
   
-  Debit  card - the stake is transferred to the bookmaker  as
   the bet is made.
   
To  date,  Bet  Direct  has principally  marketed  debit  card
betting and has only recently started to target credit account
customers.


Internet betting
Internet  betting and gaming expenditure is expected  to  grow
rapidly  as  internet penetration increases and  more  of  the
established gaming companies set up their internet operations.

Littlewoods  Leisure's Bet 24 7 site began  operations  on  13
March  2000  offering  a range of direct  betting,  pools  and
lotteries.  The total number of  registrations as  at  7  July
2000 was 11,044.

Littlewoods  Leisure has signed a non-exclusive  licence  with
Telewest in relation to pools and lotteries to provide Bet  24
7 to all its digital subscribers, and has also signed heads of
agreement with BT Cellnet to provide direct WAP phone  access.
Licensing arrangements are being considered with other digital
operators.





Lotteries
Littlewoods  Leisure  runs  lottery  operations   using   both
scratchcards and electronic instant lottery machines ('EILs').
It  has  a network of around 550 EIL machines, mainly situated
in  social  clubs. The private EIL machines are coin  operated
and  offer  a  selection of lottery games played  on  a  touch
screen monitor.

Littlewoods Leisure manages a number of scratchcard  lotteries
for  several charities. It agrees each game with the  charity,
designs, prints and distributes tickets, promotes the game and
administers the proceeds and prizes.

The  charity receives a minimum of 20 per cent of the proceeds
of  each  game.  Scratchcards are sold through  a  variety  of
distribution  channels  including  post  offices,  independent
retailers and information kiosks.

The  PrizeBuster lottery is a game based on the results of the
Saturday  National Lottery draw. PrizeBuster  sales  are  made
through the door to door collector network, retailers and also
through the Bet 24 7 site.



REGULATORY BACKGROUND
Littlewoods    Leisure    has    the    following    principal
authorisations.

- Registration as a pools promoter, which is in  the  name  of
  Littlewoods Promotions. This has effect unless and until  it
  is  revoked  by  the registering authority  (in  this  case,
  Liverpool City Council). The relevant statute, The  Betting,
  Gaming and Lotteries Act 1963, contains various duties on  a
  pools  promoter but, provided that these are complied  with,
  powers of revocation are very limited.
  
- A  bookmaker's  permit, which is also  held  by  Littlewoods
  Promotions. The current permit will expire on 31  May  2003.
  The  permit  can be revoked or not renewed if the  licensing
  authority is not satisfied that the permit holder is  a  fit
  and  proper  person  or  if it believes  that  the  business
  carried  on under the permit is being managed by or  carried
  on  for  the benefit of a person who is not a fit and proper
  person.   The  licensing authority will be informed  of  the
  Acquisition but there is no formal approval procedure.
  
- A  certificate to act as an external lottery manager,  which
  is  held  by Littlewoods Lotteries Limited. This certificate
  is  granted  by  the  Gaming Board for Great  Britain  ('the
  Gaming Board') and remains valid unless and until revoked by
  the  Gaming Board. The Gaming Board may revoke a certificate
  if  it  appears to the Gaming Board that any person  who  is
  managing  the business carried on under the certificate,  or
  for  whose benefit such business is carried on, is not a fit
  and  proper  person. Contact has already been  made  by  the
  Company with the Gaming Board to ensure that the certificate
  will  be  continued  after  Completion,  and  the  requisite
  personal  declaration  forms have been  completed  by  those
  Directors who have not previously submitted their details to
  the Gaming Board.
  
- A certificate for the sale, supply and maintenance of gaming
  machines, which is held by Littlewoods Promotions.  This  is
  valid until 30 April 2005, but can be revoked or not renewed
  if  the Gaming Board is of the view that the person carrying
  on  the  business under the certificate is  not  a  fit  and
  proper person, or is carrying on that business on behalf  of
  or  for  the benefit of a person who is not a fit and proper
  person.  This certificate is not currently used in  carrying
  on the business of Littlewoods Leisure.
  
The Directors are confident that the transfer of ownership  of
Littlewoods Leisure to the Company will not lead to any of the
above authorisations being revoked or not renewed.

The  Government announced a wide ranging review of legislation
relating  to  gambling  on 8 December 1999.  It  is  currently
intended that the review body will report its findings in  the
summer  of  2001.  It cannot be said with any  certainty  what
impact  the  review will have on the business  of  Littlewoods
Leisure,  but the Directors believe that the review is  likely
to  lead  to  liberalisation of at least some of the  relevant
legislation.



BOARD AND MANAGEMENT OF THE ENLARGED GROUP
Following completion of the proposals, the composition of  the
Board will be as follows:

-  Malcolm McIver (65), will remain as chairman of the  Board.
   Mr  McIver  has been a Director of the Company  since  1984
   and  chairman  since  1991. Until  his  retirement  he  was
   senior  partner in the Scottish legal firm Bird Semple.  He
   holds  a  number of other directorships and he is a  former
   chairman  of the Royal Scottish Academy of Music and  Drama
   and   Deputy   Chairman  of  the  Accounts  Commission   of
   Scotland.
   
-  Colin  McGill  (51),  will  become  managing  director.  Mr
   McGill  joined the Company on 1  June 2000 as a  member  of
   the  Board  and Chief Operating Officer. He had  previously
   held  a number of senior positions within Bank of Scotland,
   most  recently  as  Divisional Chief  Executive,  Corporate
   Banking,  where he was responsible for merging and managing
   the  Bank's global corporate business activities. Mr McGill
   also held senior management responsibility for the Bank  of
   Scotland's   IT  infrastructure  and  systems   development
   activity.   Mr   McGill   will  be  responsible   for   the
   integration  of  Littlewoods  Leisure  into  the   Enlarged
   Group.
-  David  Mathewson (53), will become Finance and  Development
   Director.  Mr  Mathewson  joined  the  Company  as  Finance
   Director  with  effect from 6 July 2000  having  previously
   been  a non-executive director of the Company. Mr Mathewson
   is  a  chartered  accountant  and,  after  holding  various
   senior   banking   positions  overseas  he   joined   Noble
   Grossart,  merchant bankers, in 1986 and became a  director
   of  Noble Grossart in 1989. He has extensive experience  in
   advising  clients  in  corporate  transactions.  He  is   a
   director  of  Edinburgh UK Tracker  Trust  plc  and  Martin
   Currie High Income Trust plc.
   
-  Roger  Withers (58), will become an executive director.  He
   is  currently executive chairman of Littlewoods Leisure and
   has  been  with  Littlewoods Leisure for  one  year  having
   previously  held  a variety of senior positions  with  Bass
   PLC  and Ladbrokes (now Hilton Group plc). His services  to
   the   Company   will  be  provided  through  a  consultancy
   agreement  between  the Company and  Hemway  Limited  which
   will be terminable by either party giving to the other  not
   less  than  six  months'  notice and  the  terms  of  which
   provide for an annual fee of £132,000 plus VAT.
   
-  Kathryn  Revitt  (35),  will  join  the  Board  as  a  non-
   executive  director. Ms  Revitt is a director of  a  number
   of  companies which are either owned by or in which  Trevor
   Hemmings   or  his  family  interests  have  a  controlling
   interest,  including  Leisure  Parcs  Limited  and  Cuerden
   Leisure  Limited,  which  owns Crown  Leisure  Limited,  an
   operator  and  distributor of gaming machines.  Ms   Revitt
   was  formerly  a  partner in Halliwell Landau,  solicitors.
   The  letter  of appointment of Ms Revitt as a non-executive
   director provides for an annual fee of £15,000 and for  her
   to  remain  in  office  initially  until  the  next  Annual
   General  Meeting of the Company when she shall  resign  and
   offer herself for re-election as a director.
   
In  addition  to  the  Board, the  senior  management  of  the
Enlarged Group will be as follows:

-  Gary   Speakman   (38),  has  been  finance   director   of
   Littlewoods  Leisure for 3 years, having previously  worked
   for  TLO, Gallaher Ltd, Leyland DAF, Rover Group and  Dowty
   Group.
   
-  Jeremy   Collis  (49),  managing  director  of  Littlewoods
   Pools,   has  held  that  position  for  one  year,  having
   previously    been   managing   director   of   Littlewoods
   Lotteries.  Previously he held positions  with  TLO,  Grand
   Met, Kennecott Corp., Mobil Oil USA and Grant Thornton.
   
-  Peter  Cuffe  (42), head of e-commerce, joined  Littlewoods
   Leisure  in  March  2000,  having  previously  held  senior
   positions at Blue Marble and SCU Multimedia.
   
-  Steve  Taylor  (38), managing director of Bet  Direct,  has
   been   with   Littlewoods  Leisure  for  3  years,   having
   previously  worked for TLO, Binder Hamlyn  Consulting,  GEC
   Distribution, Gradus Group and Arthur Andersen.
   
-  Angela  Moran (45), head of human resources at  Littlewoods
   Leisure, has been with Littlewoods Leisure for 24 years.
   
-  Richard   Boardley  (45),  head  of  electronic  lotteries,
   joined  Littlewoods  Leisure in 1999  from  Punch  Taverns,
   where he had spent 18 months as commercial director.
   
-  David  Ovens  (27),  joined Rodime as manager  of  business
   development  on 27 June 2000. Between 1994 and 1996,  David
   worked  for  Samuel Montagu & Co in London, before  joining
   Noble  Grossart in 1996. David has been involved in a  wide
   variety of corporate finance transactions and is fluent  in
   French and German.
   


Following  completion, the vast majority of Rodime's  business
will be based initially in the UK. For this reason, both Peter
Bailey and James Teter believe that it is not appropriate  for
them  to  remain on the Board of the Company and  will  resign
from  the  Board  on  completion in order to  become  managing
director  and non-executive director, respectively, of  a  new
technology subsidiary of Rodime. Both will continue to provide
consultancy services to other parts of the Enlarged Group.

It  is  the  intention of the Board to appoint  an  additional
independent non-executive director in due course.


Creation of new subsidiary
It  is  proposed  that  the  rights  relating  to  disk  drive
technology belonging to Rodime will be hived down into  a  new
subsidiary  company  which will be called Rodime  Technologies
Limited.

The  new  technology subsidiary will be financed from existing
Rodime  group  resources  and will undertake  an  infringement
analysis  of the Company's patent portfolio. The Directors  do
not  currently  envisage that this business will  require  any
significant new funding.


FINANCIAL INFORMATION
A summary of key information on Littlewoods Leisure is set out
below.                                                                        
                                                                              
                          Year         Year            Year
                         ended        ended           ended
                      30 April     30 April        30 April
                          1998         1999            2000
                            £m           £m              £m
Turnover                 311.2        235.2           210.7
Operating profit          19.9         19.7            21.0
                                               
As at 30 April 2000 Littlewoods Leisure had net liabilities of
approximately £1.5 million.

The  audited interim results of the Rodime group for  the  six
months ended 31 March 2000 were announced on 31 May 2000.   As
a  result of the Seagate settlement, turnover was $45  million
(1999  -  nil  ) and profit before taxation was $49.4  million
(1999  -  loss  of $0.6 million ). At 31 March  2000  the  net
assets of the Rodime group were $9.0 million.

It  is  the  intention of the Board to change  the  accounting
reference dates of the Company and Littlewoods Leisure  to  31
December  with effect from 31 December 2000 and to report  the
Company's results in the future in pounds sterling.





CURRENT TRADING AND PROSPECTS FOR THE ENLARGED GROUP
In  the  period since 31 March 2000, the Company has continued
to  review  the licensing and royalty potential of its  patent
portfolio  and  has  not  received any  further  revenues.  In
addition   the   Company  has  been  seeking   investment   or
acquisition opportunities. During this period the Company  has
continued to incur ongoing administrative expenses.

Trading  profitability  at Littlewoods  Leisure  has  remained
reasonably  constant since 30 April 2000, save in relation  to
Bet  Direct  whose  margins  were adversely  affected  by  the
results in the Euro 2000 football tournament, particularly the
England-Germany  match,  and  at Royal  Ascot.  The  Directors
believe that the market for sports-related gaming is large and
growing, and with the increased focus that Rodime can  provide
to  Littlewoods  Leisure, the Directors are confident  of  the
long term prospects for the Enlarged Group.


SIGNIFICANT SHAREHOLDERS
Bank  of Scotland currently holds 49.6 per cent of the  issued
ordinary  share  capital of the Company. On implementation  of
the  proposals the Bank's shareholding will hold approximately
28.4 per cent of the Company's enlarged share capital.

As  a  result  of  the  Subscription, Newby  Manor  will  hold
approximately 28.4 per cent of the enlarged share  capital  of
the Company.


DIVIDEND POLICY
The  Company is currently unable to pay dividends as it has  a
deficit in its distributable reserves. It is the intention  of
the Directors to consider in due course whether a reduction of
capital would be appropriate in order to give the Company  the
ability to declare dividends.


EXTRAORDINARY GENERAL MEETING
A  notice  will  be  sent to shareholders today  convening  an
extraordinary  general meeting of the Company to  be  held  at
11.00  am  on  4 September 2000 at which resolutions  will  be
proposed to:

1. approve the terms of the Acquisition;

2.  approve the terms of the new incentive scheme described in
the Prospectus;

3. conditional on the passing of resolution 1 above,  increase
   the   authorised   share  capital   of   the   Company   to
   £40,102,889.75    by  the  creation  of   462,057,795   new
   Ordinary Shares (an increase of 136 per cent) and give  the
   Directors  authority  to  allot  shares  and  to   disapply
   shareholders'  statutory pre-emption rights  under  section
   89  of the Act in relation, inter alia, to the Subscription
   and the Rights Issue;
   
4. approve the change of name of the Company to Sportech plc;

5. approve  the  alteration  of  the  objects  clause  of  the
   Company's Memorandum of Association; and
   
6.  approve  the  alteration  of  the  Company's  Articles  of
Association as described above.


FURTHER INFORMATION
Further  information  on  the Acquisition,  Rights  Issue  and
Subscription are set out in the prospectus to be sent today to
the shareholders of Rodime.

For further information please contact:

David Ovens
Rodime plc
Tel: [phone]
or 0411 548 231

Todd Nugent
Noble Grossart
Tel: [phone]

Garry Frier
Charterhouse Securities Ltd
Tel: [phone]

Jonathon Brill
Bell Pottinger Financial
Tel: [phone]