Statement re Stake in SRH

SMG PLC
8 December 2000


SMG acquires a 14.9 per cent stake in SRH


The Board of SMG plc ('SMG') today confirms that it now holds 4.9 million
ordinary shares in Scottish Radio Holdings plc ('SRH'), representing 14.9 per
cent of the company's issued share capital.

The acquisition of a stake in SRH is part of SMG's continuing strategy of
investing in the fastest-growing areas of the media sector. SRH's businesses
include radio, newspapers and outdoor advertising - media in which SMG already
has considerable interests and which may present opportunities for
co-operation. 

The UK media sector continues to evolve through developments such as the
promised Communications White Paper. SMG intends to be a leading player in any
consolidation of UK media and believes that this investment positions it well
until the implications of new legislation are clear.

SMG has no current intention of making an offer for the whole of SRH, although
it reserves its options in this regard in the event of any material change in
circumstances, including if another party makes such an offer.

Andrew Flanagan, Chief Executive of SMG, commented:

'This is a good opportunity for SMG to secure a stake in a company that's a
close match, geographically and operationally. SRH fits well with SMG's
strategy of investing in fast-growing media, in particular, radio and outdoor
advertising.'

8 December 2000

Enquiries:

SMG
Andrew Flanagan, Chief Executive                 0141 300 3300
Callum Spreng, Corporate Affairs Director        0141 300 3300

Schroder Salomon Smith Barney
David Wormsley                                   0207 986 4000
Simon Gluckstein                                 0207 986 4000

Hoare Govett
Mark Astaire                                     0207 678 8000
Sara Coghill                                     0207 678 8000


Salomon Brothers International Limited, trading as Schroder Salomon Smith
Barney ('SSSB'), which is regulated in the United Kingdom by The Securities
and Futures Authority Limited, is acting exclusively for SMG plc and no one
else in connection with the transaction and will not be responsible to anyone
other than SMG plc for providing the protections afforded to customers of SSSB
or for giving advice in relation to the transaction or any element thereof.
Salomon Smith Barney is a service mark of Salomon Smith Barney Inc. Schroder
is a trademark of Schroders Holdings plc and is used under licence.