Renegotiation of Bond

Premier Management Holdings PLC
19 March 2004


For immediate release on 19 March 2004
Premier Management Holdings plc (the 'Company')

Renegotiation of repayment terms of Convertible Bonds

The Company is pleased to announce that an agreement has been signed in escrow
with the holder of the € 8 million guaranteed floating rate unsecured
convertible bonds (the 'Bonds') subject to the completion of funding through an
equity placing.

Under the terms of the agreement the Company will pay a total of € 3.669 million
over 14 years to satisfy the total indebtedness to the Bond holder. € 669,000
will be paid on completion of the agreement, which is expected to take place
within the week, and the balance will be paid in 40 quarterly instalments of €
50,000 each followed by a further 16 quarterly instalments of € 62,500. No
further interest payments will be made. The Bond holder will retain a fixed and
floating charge over the Company's group's (the 'Group') assets in respect of
the outstanding instalments.

As a result of the agreement, the Group will benefit from an immediate
exceptional credit to its profit and loss account in excess of € 4 million and
will not be subject to any further interest charges relating to the Bond.

ENDS

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