Acquisition

Evolution Group PLC 26 April 2006 FOR IMMEDIATE RELEASE 26 April 2006 THE EVOLUTION GROUP PLC EXPANSION OF CHINESE INVESTMENT BANKING SUBSIDIARY The Evolution Group Plc ("Evolution") announces that its subsidiary, Evolution Securities China Limited ("ESCL"), has conditionally agreed to acquire the entire issued share capital of Watterson Asia Limited ("Watterson") from its existing owner and chief executive, David Tsang ("the Acquisition"). The Acquisition is conditional upon the approval by the Securities and Futures Commission of Hong Kong ("SFC") of the change of control of Watterson. An application for such approval has been submitted and it is currently expected that confirmation of the SFC's decision will be delivered by the end of May 2006. Watterson is based in Hong Kong and is licensed by the SFC to conduct corporate finance and securities dealing activities. Since its inception in 2001, Watterson has undertaken a wide variety of corporate finance and advisory functions and has led or co-led fundraisings for a number of companies in the listed Hong Kong market. The board of ESCL expects that the Acquisition will significantly enhance ESCL's current capability by giving it full access to Hong Kong equity markets on a primary and secondary basis. This will complement its existing specialist research activities based in Shanghai and its primary and secondary activities in the London market. Evolution currently owns approximately 73 per cent. of the issued share capital of ESCL and the Acquisition is a class 3 acquisition for Evolution for the purposes of the Listing Rules. The gross assets of Watterson as at 31 December 2005 were approximately HK$ 12.7 million, equating to approximately £900,000 at the prevailing exchange rates. For further information, please contact: The Evolution Group Plc Graeme Dell, Finance Director 020 7071 4430 Notes to Editors: ESCL is a specialist investment banking and securities firm dedicated to offering equity research, institutional sales and sales trading to a broad base of professional portfolio investors, as well as Equity Capital Markets and Corporate Finance services, primarily to Chinese and Asian corporations. ESCL is headquartered in London with an additional office in Shanghai. ESCL is currently an appointed representative of Evolution Securities Limited, Evolution's wholly owned securities business, under the regulatory authority of the FSA. This information is provided by RNS The company news service from the London Stock Exchange
UK 100

Latest directors dealings