Acquisition

Vertu Motors PLC
02 May 2007

2 May 2007


               Vertu Motors plc ('Vertu Motors' or the 'Company')

                Acquisition of Blake Holdings Limited ('Blakes')


Vertu Motors plc, the acquirer and consolidator of UK motor retail businesses,
announces that on 2 May 2007, its subsidiary Vertu Motors (Property) Limited
acquired 100% of the issued share capital of Blake Holdings Limited (the 
'Acquisition') which comprises three dealerships and a vehicle service centre,
for an estimated consideration of £4.9 million.


The Blakes operations include a Vauxhall dealership in Chesterfield, a Vauxhall
service centre in Matlock and Peugeot dealerships located in Chesterfield and
Worksop. Following completion of the Acquisition it is intended that the
businesses will assume the Bristol Street Motors brand name, taking the number
of outlets in the Vertu Motors group to 39.


The consideration for the Acquisition will be funded from the existing cash
resources and banking facilities of the Company together with the issue of up to
292,397 ordinary shares in Vertu Motors plc at a price of 85.5p per share with a
total value of up to £250,000.  This issue is dependent on the finalisation of
the level of the net assets at completion.


The Directors believe that the Acquisition is a strong strategic and geographic
fit with the existing Vertu Motors operations and will complement its existing
operations trading under the Bristol Street Motors brand. The Acquisition is in
line with the Company's stated acquisition strategy set out at the time of the
IPO in December 2006.


Post completion, the Vertu Motors team will work to drive integration and
improvement in margins through the:


•         roll out of the Bristol Street brand name
•         improvement of used car sales to improve the used to new car ratio
•         further development of the internet retail presence
•         integration of procurement and marketing into the Group


In the 12 month period ended 31 December 2006, Blakes reported turnover of £59.7
million, with operating profit of £0.4m and profit before taxation of £0.04m.
The audited net asset value of Blakes as at 31 December 2006 was £2.3m and as at
completion has been estimated at £4.4m following the revaluation of three
freehold properties.



Robert Forrester, CEO of Vertu Motors said:



'We are pleased to have announced our second acquisition since we listed on AIM
in December 2006, as we continue to consolidate the highly fragmented UK motor
retail market.  We continue to look at additional acquisitions and have the
management and financial firepower to continue the consolidation process.



I am confident there are significant growth synergies to be gained from the
integration of the Blakes business into Bristol Street Motors. I look forward to
developing the business and welcoming all our new colleagues into the Group.'




                                      Ends -



For further information please contact:

Robert Forrester, CEO, Vertu Motors plc,  Tel: [phone]

Andrew Kitchingman, Brewin Dolphin Securities,  Tel: [phone]

Jonathon Brill/Billy Clegg/Edward Westropp, Financial Dynamics,  
Tel: [phone]






                      This information is provided by RNS
            The company news service from the London Stock Exchange