Offer Document Posted

Montpellier Group PLC
14 May 2003

Montpellier Group Plc ('Montpellier')

Recommended Increased Cash Offer by Tobull Limited ('Tobull') for Bullough plc
('Bullough')





On 6 May 2003, Tobull, a wholly owned subsidiary of Montpellier, announced that
it had reached agreement with the board of Bullough on the terms of a
recommended increased cash offer to be made by Rowan Dartington on behalf of
Tobull to acquire all of the issued and to be issued ordinary share capital of
Bullough, other than the 15,876,318 Bullough Shares already owned by Tobull,
('the Increased Offer') representing approximately 29.9 per cent of the issued
share capital of Bullough.



The document containing the details of the Increased Offer ('the Offer Document')
was posted on 13 May 2003.  The first closing date for acceptances is 3 June
2003.



This announcement, for which the directors of Tobull are responsible, has been
approved for the purpose of section 21 of the Financial Services and Markets Act
2000 by Rowan Dartington & Co Limited.



Rowan Dartington & Co Limited, which is regulated by the Financial Services
Authority Limited, is acting as financial adviser to Tobull and no one else in
relation to the Offer and will not regard any other person as its customer or be
responsible to anyone other than Tobull for providing a protection awarded to
customers of Rowan Dartington nor for providing advice in relation to the
Increased Offer.



Unless the context otherwise requires, words and expressions defined in the
Offer Document shall have the same meaning in this announcement.



Enquiries:


Ralph Baber, Tobull Limited                                             020 7522 3211
Paul Sellars, Montpellier Group Plc                                     020 7522 3200
John Wakefield, Rowan Dartington & Co Limited                           0117 933 0020








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