Result of Open Offer

Unite Group PLC
25 June 2001

UNITE Group plc ('UNITE')

25 June 2001



Not for release, publication or distribution in or into the United States of
America, Canada, Australia or Japan.



                             The UNITE Group plc



                          Announcement of Result of

                                  Open Offer



Introduction



On 1 June 2001, The UNITE Group plc ('UNITE'), the UK's leading specialist
provider of accommodation services for students and NHS key workers, announced
the proposed acquisition of UniLodge Holding Limited ('UniLodge') and a
Placing and Open Offer of 23,205,557 new ordinary shares at 370p per share of
which 11,087,966 were available under an Open Offer.



Results of Open Offer



The Open Offer closed at 3.00 p.m. on Friday, 22 June 2001. Of the 11,087,966
new ordinary shares which were the subject of the Open Offer, 3,784,652 were
the subject of shareholders' undertakings not to take up their entitlements.
Of the remainder, valid applications for 6,893,847 shares were received, which
accordingly represents 94.4 per cent. of the shares which were not the subject
of shareholders undertakings.


All of the 23,205,557 new ordinary shares were conditionally placed by Teather
& Greenwood with institutional investors.  The 12,117,591 shares which were
allotted as consideration for the acquisition of UniLodge were placed firm
pursuant to a vendor placing, as were the 3,784,652 shares which shareholders
undertook not to take up under the Open Offer.  The remaining 7,303,314 shares
were placed subject to recall to satisfy valid applications under the Open
Offer.



Geoffrey Maddrell, Chairman, said:



'We are delighted with the support we have received from both new investors
and existing shareholders. The acquisition of UniLodge Holding Limited
underpins Unite's growth plans and the proceeds of the Placing and Open Offer
will now be used to strengthen our position as the UK's leading provider of
quality, affordable services for students and NHS key workers.'



For further information, please contact:



The UNITE Group plc                                       020 7902 5076
Nicholas Porter, Chief Executive
Simon Bernstein, Finance Director


Teather & Greenwood                                       020 7426 9000
Richard Thompson/Martin Lampshire


Redleaf Communications                                    020 7955 1410
Emma Kane                                                 07768 012924


Teather & Greenwood Limited, which is regulated by The Securities and Futures
Authority Limited, is acting for The UNITE Group plc and no one else in
connection with the Placing and Open Offer and will not be responsible to
anyone other than The UNITE Group plc for providing the protections afforded
to customers of Teather & Greenwood Limited.



ENDS