Acquisition

Northern Bear Plc
13 November 2007



              Northern Bear PLC ('Northern Bear' or 'the Company')

                   Acquisition of Jennings Properties Limited


The board of Northern Bear, the integrated North of England based building
materials and services supplier, is pleased to announce the acquisition of
Jennings Properties Limited and its subsidiary Jennings Roofing Limited (being
together 'Jennings'). Jennings, based in Leeds, is a roofing contractor
specialising in both commercial and residential work. The directors of Northern
Bear believe that this acquisition is a good strategic fit for the Northern Bear
group.

In the financial year ended 30 April 2007, Jennings achieved an aggregate
audited turnover of £7.1 million and a combined profit before tax of £0.68
million, after payments to directors of £0.7 million, of which in excess of £0.5
million will no longer be payable following the acquisition. As at 30 April
2007, Jennings had aggregate net assets of £1.4 million.

The maximum consideration to be paid for the entire issued share capital of
Jennings is £5.1 million ('the Consideration'). The Consideration is to be
satisfied by the payment of £3.23 million in cash from the Company's existing
resources at completion. Up to a further £0.6 million is payable in cash, £0.3
million of which is dependent upon the achievement of certain performance
criteria. The balance of £1.27 million will be satisfied by the issue of
1,025,744 new ordinary shares in the capital of the Company ('Shares').
Application will be made for the Shares to be admitted to trading on AIM, such
admission expected to be effective on 19 November 2007.

As a result of the issue of the Shares, the issued share capital of the Company
will comprise 16,950,089 ordinary shares of 1p each, with each ordinary share
carrying the right to one vote.


John Pither, Chairman of Northern Bear, commented

'We are delighted to announce the acquisition of Jennings which brings with it a
high calibre management team, and which we believe further strengthens our
spread of North East based businesses.'


Enquiries please contact:

Northern Bear Plc
Graham Forrest, Chief Executive
0191 371 2934

Strand Partners Limited
James Harris / Braden Saunders
020 7409 3494




                      This information is provided by RNS
            The company news service from the London Stock Exchange