Issue of Warrants

Quadrant Group PLC
9 November 1999

              Quadrant Group PLC ('the Company')
                       Issue of Warrants

Following  approval  at  the Company's  Extraordinary  General
Meeting on 27 September 1999 Mr D J Coghlan, a director of the
Company, notified the Company on 8 November 1999, that Scawton
Limited, a company with whom he is associated, has been issued
with 550,000 warrants to subscribe for Ordinary shares of  20p
each, at £1.00 per share.

The warrants were issued as consideration for early redemption
of  £550,000  Convertible Loan Stock held by Scawton  Limited.
The  Loan Stock, which bore a fixed interest rate of  12%  per
annum  and was redeemable on 29 May 2000, gave the holder  the
right  to convert any or all of the loan into Ordinary  shares
at  a  conversion price of £1 per share at any time  prior  to
redemption.