Acquisition

Volvere PLC
27 May 2003


Embargoed until 0700


Tuesday 27 May 2003

                     Volvere plc ('Volvere' or 'the Company')

                    Acquisition of Amey Vectra Ltd. ('Vectra')

Volvere, the activist investor and turnaround specialist, today announces that
it has acquired the whole of the issued share capital of Vectra, a subsidiary of
Amey plc ('Amey'). The consideration for the acquisition is £2 million in cash,
which will be financed from Volvere's existing cash resources.

Vectra is a leading provider of consultancy and technical services to the
process, nuclear, transport, defence and other highly-regulated sectors.

Key Highlights

-        First investment by Volvere since flotation in December 2002.

-        Vectra is a leading provider of consultancy and other services to 
         highly regulated industries, and in particular in regard to safety 
         within those industries.

-        Acquisition for £2 million in cash will substantially increase 
         Volvere's net asset value at the time of acquisition.

-        In the year ended 31 December 2002 Vectra had turnover of £25.6 million 
         and employed 275 people (including certain discontinued activities that
         do not form part of the acquisition.)

-        The disposal of Vectra follows a review of Amey's strategic options 
         during 2002 and a decision to focus on its core strengths.

Terms

Vectra is being acquired for cash which will be financed from Volvere's cash
resources of approximately £3.4million.

The purchase price of £2 million may be adjusted downward in the event that less
than £2 million of Vectra's debtors are converted into cash within nine months
of the acquisition date. The adjustment would be the shortfall between £2
million and the recovery of such debts.  The Board believe that any such
adjustment is unlikely.

Vectra has granted an option to Amey to subscribe for 5 per cent of the fully-
diluted equity in Vectra at a cost of approximately £115,000 for the three year
period following the date of acquisition.

The Board believe that the Company has sufficient cash resources to finance the
working capital requirements of Vectra. However the Company may seek to secure
borrowing facilities for Vectra or Volvere following the acquisition to
supplement these cash reserves.

Financial Data

For the Year ending 31 December 2002, Vectra made an audited loss on ordinary
activities before tax of £4.559 million on turnover of £25.655 million.  These
figures do not however properly reflect the financial position of Vectra at the
date of acquisition due to the sale or transfer of parts of the company by or to
Amey following the year-end.

Based on unaudited management accounts for the first four months of 2003, Vectra
made a loss on ordinary activities before tax of £0.777 million. Before
exceptional items the loss before tax for this four-month period was  £0.35
million.

The net assets of Vectra at the date of acquisition are estimated to be £3.1m. 
A summary balance sheet is given below. The Board wishes to point out that these
figures are not audited and are based upon management accounts as of 25 April
2003 and the management of Vectra's assessment of trading since that date:

                                                          £000

Fixed assets:                                              236
Work-in-Progress                                         1,326
Trade debtors                                            2,902
Other debtors                                              145
Bank                                                       543
Trade creditors & accruals                              (1,145)
Other creditors                                           (907)

Net Assets                                               3,100

Rationale

The Board believe that the skills and resource that Volvere will bring to
Vectra, together with the energies and talents of Vectra's management and staff
will create value for shareholders in the medium term.

Although Vectra has made losses for the first four months of this year, and is
likely to do so in the immediate future, the Board wishes to underline that the
purchase price is substantially below the estimated net assets of Vectra at the
time of acquisition.

Sir Stanley Kalms, Chairman of Volvere, said:

'This acquisition fits in perfectly with our strategy to acquire companies with
good growth prospects at attractive prices and where we can provide hands-on
support. '


Jonathan Lander, Chief Executive of Volvere, said:

'We have been working closely with the management of Vectra for some weeks and
we are excited about the prospects for growing the business.'

                                  - Ends -


For further information please contact:

Jonathan Lander, Chief Executive
Volvere plc                                                  [phone]

Terry Garrett / Christian Taylor-Wilkinson
Weber Shandwick Square Mile                                  [phone]

Jeff Keating / David Galan
Teather & Greenwood                                         [phone]


Notes to editors:

About Volvere

Volvere was floated on AIM in December 2002 as an activist investor both in
undervalued companies and also in companies that are in distress but offer the
possibility of a turnaround. Its executive directors are the executives of the
venture capital and advisory firm Dawnay Day Lander Ltd. The two non-executive
directors are Sir Stanley Kalms and Neil Ashley.

Website : www.volvere.co.uk

About Vectra

Vectra is a leading provider of consultancy and technical services to the
process, nuclear, transport, defence and other highly-regulated sectors.

The company has 14 offices in the UK and 1 in The Hague, Holland. Vectra's
headquarters are in Warrington,UK.

Website : www.ameyvectra.co.uk


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