Acquisition

Walker,Crips,Weddle,Beck PLC
04 December 2002

                    WALKER, CRIPS, WEDDLE, BECK PLC ('WCWB')


                    SOUTHARD GILBEY, McNISH & CO. ('SGMcN')


WCWB, the fully listed stock and share broker, announces that it reached
agreement on 3 December 2002 with Mr A E Bryant and Mrs S C Watkin (the 'SGMcN
Partners') to acquire the trading name and goodwill associated with the business
of SGMcN, a private client stockbroking partnership based in the City of London
and with a branch in Canterbury.


Upon completion of the transfer of the trading name of SGMcN to WCWB on 23
December 2002, the partnership will cease to trade and, thereafter, continuing
business will be conducted through WCWB. In the year ended 30 April 2002, SGMcN
generated an audited distributable profit before taxation of £131,157 on
turnover of £708,525. The audited net assets of SGMcN at 30 April 2002 were
£697,031, all of which will be retained by the SGMcN Partners.


The consideration payable by WCWB to the SGMcN Partners will comprise the sum of
£10,000 in cash for use of the trading name of SGMcN in perpetuity, plus further
cash sums based upon a percentage of the profits of the SGMcN business in each
of the three years following completion of the acquisition. The maximum
aggregate consideration is £400,000.


Commenting on the acquisition, Michael Sunderland, Chief Executive of WCWB,
said:


'Following the successful integration of Keith, Bayley, Rogers & Co. Limited
earlier in the year, the addition of SGMcN further extends our ability to offer
a growing range of financial services to a larger base of private investors. We
look forward to working with Arthur Bryant, Sue Watkin and the associates and
staff of SGMcN to make the link-up a success.'




4 December 2002


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