Acquisition

European Motor Hldgs PLC 12 June 2006 EUROPEAN MOTOR HOLDINGS plc ("EMH") ACQUISITION OF NEW DEALERSHIP The Board of EMH is pleased to announce the acquisition on 9 June 2006 of the business and certain assets of the St Helens Land Rover dealership of the Hartwell group in St Helens. The fixed assets, stocks and certain liabilities of the dealership have been acquired for a net consideration of £0.5 million, satisfied in cash. The assets have been acquired at valuation or book value and the consideration includes a payment for goodwill of £0.4 million. In addition, the EMH Group has entered into a short term lease of the dealership's existing property from the Hartwell group. The unaudited management accounts of the dealership for the year ended 30 November 2005 showed a profit before taxation of £142,000 on a turnover of £15.7 million. Commenting on the acquisition, Richard Palmer, Chief Executive of EMH, said: "This is a very good acquisition for EMH. The expansion of our Land Rover franchises is part of our declared strategy for the Group and the location of the new dealership also represents a good fit with our existing Land Rover businesses in Chester and Preston and our other businesses in the North West." Enquiries: Richard Palmer Chief Executive Ann Wilson Finance Director European Motor Holdings plc 01491 413399 This information is provided by RNS The company news service from the London Stock Exchange
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