Result of Equity Issue

SMG PLC
22 August 2000




SMG plc - Results of Cash Placing

Further to this morning's announcement of the proposed share placing, SMG
announces that 14,613,960 new ordinary shares of 2.5p have been successfully
placed by Hoare Govett Limited at a strike price of 295p per share, determined
through an accelerated bookbuild process.  The strike price represents
approximately a 1.7% discount to the share price at the close of business
yesterday.  The placing proceeds will therefore be approximately £43 million
before expenses.



For further information contact:

Gary Hughes        CFO & Business Development Director      020 7882 1088
George Watt        Acting Group Finance Director            
Callum Spreng      Director of Corporate Affairs            
                                                            
Mark Astaire       Hoare Govett Limited                     020 7678 8000
Sara Coghill       Hoare Govett Limited