ITE GROUP PLC
21 September 1999
ITE Group plc ('ITE') acquires 100% of IS Expo Shows
in Moscow and Hong Kong
ITE, the international exhibitions organiser, is pleased
to announce through its wholly owned subsidiary,
International Trade & Exhibitions (JV) Limited, that it
has acquired from LGT EU Limited the rights to two
exhibitions covering sweets, chocolate, biscuits and
pastry. These exhibitions trade under the name IS Expo.
IS Expo in Moscow held its seventh exhibition in
September 1999 and ITE has agreed to pay an amount in
cash equal to three times the average profits for the
years 1999, 2000 and 2001. An initial amount of
US$450,000 has been paid based on the profit before tax
in 1999 estimated at US$150,000. Further payments will be
made after the shows in 2000 and 2001.
IS Expo in Hong Kong is to be held for the first time in
June 2000 and ITE has agreed to pay an amount in cash
equal to three times the average profits for the years
2000, 2001 and 2002.
Lawrie Lewis said, 'The acquisition of the two IS Expo
shows adds the important theme of sweets and
confectionery to ITEs food division. The show in Moscow
is well established and the new show in Hong Kong will be
ITEs first one in the Far East and complements our joint
venture activities in China'.
For further information please contact:
Lawrie Lewis ITE Group plc 07771 535332
Chairman 0171 596 5000
Odette Jonkers ITE Group plc 0171 596 5000
Press Office
Isabel Petre Buchanan Communications Ltd 0171 466 5000
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