Offer Update

Millfield Group PLC
13 September 2004

RNS Number:

Millfield Group PLC

Offer update

13 September 2004


Not for release, publication or distribution in or into the United States,
Canada, Japan or Australia


RECOMMENDED MERGER OFFER ON BEHALF OF MILLFIELD GROUP PLC ("MILLFIELD") FOR
INTER-ALLIANCE GROUP PLC ("INTER-ALLIANCE")


On 6 August 2004, the boards of Millfield and Inter-Alliance announced the terms
of a recommended merger offer for the entire issued and to be issued share
capital of Inter-Alliance, to be made by Collins Stewart, on behalf of
Millfield.


As at 3.00pm on 10 September 2004, Millfield had received valid acceptances in
respect of a total of 761,953,455 Inter-Alliance Shares, representing
approximately 83.92 per cent. of Inter-Alliance's issued share capital.  As
Millfield has received valid acceptances of the Merger Offer in respect of more
than 50 per cent. of the issued share capital of Inter-Alliance, the board of
Millfield has waived the 90 per cent. acceptance condition and declares the
offer unconditional as to acceptances.


The board of Millfield is yet to receive notification that The Financial
Services Authority has approved Millfield becoming a controller of
Inter-Alliance.  When this regulatory condition is satisfied, the board of
Millfield expects to be able to declare the Offer wholly unconditional.  In the
meantime, the offer remains open until further notice.


Inter-Alliance Shareholders who wish to accept the revised Offer, and who have
not done so, should complete their Form(s) of Acceptance, in accordance with the
instructions printed thereon, whether or not their Inter-Alliance Shares are in
CREST, and return them, as soon as possible, to Capita IRG Plc at Corporate
Actions Department, PO Box 166, The Registry, 34 Beckenham Road, Beckenham, Kent
BR3 4TH. Additional Forms of Acceptance are available from Capita IRG Plc, by
telephoning 0870 162 3100.


Enquiries:


Stephen Keys / Simon Atkinson                  Tel: [phone]

Collins Stewart


Terms defined in the Offer Document dated 6 August 2004, have the same meaning
in this press release unless the context otherwise requires.


To the best of the knowledge and belief of the Directors of Millfield Group plc
(having taken all reasonable care to ensure that such is the case), the
information contained in this document is in accordance with the facts and does
not omit anything likely to affect the import of such information. The Directors
of Millfield Group plc accept responsibility accordingly.


Collins Stewart Limited, which is regulated in the United Kingdom by The
Financial Services Authority, is acting for Millfield and no-one else in
connection with the Offer and will not be responsible to anyone other than
Millfield for providing the protections afforded to its customers or for
providing advice in respect of any matters referred to in this press release.


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