Acquisition

Caffyns PLC
12 February 2001


Caffyns plc ('the Company') has today purchased the business of Ridleys Limited
('Ridleys'), a Volvo main dealer based in Eastbourne and Hastings, Sussex. The
Company has acquired the freehold and leasehold premises, plant and equipment,
stock and goodwill for a cash consideration of approximately £1.6m.

Ridleys made an estimated loss before taxation of £32,000 in the year ended 31st
December 2000.

Consequently, the Company represents Volvo for the first time and also now holds
the other Premier Automotive Group franchises, Jaguar and Land Rover for this
territory.