Acquisition

Tribal Group PLC 26 April 2001 Tribal Group plc ('Tribal Group' or the 'Company') Acquisition of Trackit Systems Limited ('Trackit') Tribal Group is pleased to announce the acquisition of Trackit Systems Limited. Tribal Group has acquired 83.5 per cent. of the issued share capital of Trackit, with the balance of 16.5 per cent being held by the Trackit management. Trackit is engaged in the design and development of bespoke data capture, document and data management systems for a range of clients in the private and public sectors. The acquisition of Trackit represents an expansion of Tribal Group's information management activities. In particular, Trackit's specific expertise will allow Tribal Group's information and library management subsidiary, Instant Library, to offer its clients a comprehensive range of electronic and web-enabled document and data management systems. The initial consideration of £1,675,000 is to be satisfied by: - the issue of 40,660 ordinary shares of 5p each in Tribal Group (' New Tribal Group Shares'); - £160,400 in cash; and - the issue of £1,414,600 fixed rate loan stock. In addition, deferred consideration of up to £1,600,000 will be paid depending upon the future performance of Trackit. This deferred consideration may be satisfied in either cash or loan stock. Application has been made for admission of the New Tribal Group Shares to trading on the Alternative Investment Market of the London Stock Exchange (' AIM'). It is expected that the New Tribal Group Shares will commence trading on AIM on 27 April 2001. The New Tribal Group Shares will rank pari passu in all respects with the existing ordinary shares of the Company. Commenting on the announcement, Henry Pitman, Chief Executive of Tribal Group, said: 'The acquisition of Trackit represents an exciting step forward for Tribal Group. The acquisition introduces a high quality pool of IT expertise into the group and will allow us to accelerate the growth of our data and document management systems capabilities.' For further information contact: Henry Pitman, Chief Executive - Tribal Group plc - 01386 702900

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Tribal Group (TRB)
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