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Wednesday 14 December, 2005

AIM

Schedule 1 - Carrwood PLC

AIM
14 December 2005


          ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE WITH AIM RULE 2

ALL APPLICANTS MUST COMPLETE THE FOLLOWING:

COMPANY NAME:
Carrwood plc

COMPANY ADDRESS:
George House
48 George Street
Manchester

COMPANY POSTCODE:
M1 4HF

COUNTRY OF INCORPORATION:
England and Wales

COMPANY BUSINESS OR, IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTMENT STRATEGY TO BE DISCLOSED IN
ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (J) OF THE AIM RULES:
Since the Company disposed of the trade, assets and liabilities of its wholesale and retail distribution
activities on 29 December 2003, the Board of the Company has continued to assess opportunities to acquire
suitable companies.

The Board believes that the proposed acquisition of ClearDebt Limited ('ClearDebt') meets its acquisition
criteria. ClearDebt advises consumers with debt problems and specialises in advising upon and setting up
Individual Voluntary Arrangements.

DETAILS OF SECURITIES TO BE ADMITTED (i.e. where known, number of shares, nominal value and issue price to which
it seeks admission and the number and type to be held as treasury shares):
Introduction of 12,490,641 existing ordinary shares of 2p each;

Vendor consideration of 150,000,000 new ordinary shares of 2p each;

Placing of 60,350,000 new ordinary shares of 2p per share; and

Conversion of a loan into 29,837,228 new ordinary shares of 2p each.

CAPITAL TO BE RAISED ON ADMISSION:
£1,207,000, before expenses, by a placing of 60,350,000 ordinary shares of 2p each at 2p per share.

FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS:
Directors:

Gerald Carey (Non-executive Chairman)

David Emanuel Merton Mond (Chief Executive Officer)



Proposed Directors:

David Michael Shalom (Non-executive Finance Director)

Andrew Frederick Smith (Marketing Director)

PERSON(S) INTERESTED IN 3% OR MORE OF THE ISSUER'S CAPITAL, EXPRESSED AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL
BEFORE AND AFTER ADMISSION:
Before:

David Mond: 83.9% 1

Oliver Mond: 4.7% 2

Raymond Donn: 3.2% 3



After:

David Mond: 42.8% 1

Sound Financial: 11.8% 4



1 10,480,000 shares are held in 5 trusts of which David Mond is a trustee and/or members of his immediate family
are beneficiaries. In addition, David Mond will, following admission, have the right to acquire up to 6,000,000
ordinary shares pursuant to call options that become exercisable in the event that the present holders of such
ordinary shares leave the employment of the Enlarged Group as 'bad leavers'. In the event that such call options
become exercisable the purchase price per Ordinary Share will be 2p. In addition, David Mond will, following
admission, have been granted 9,765,000 Carrwood Warrants.

2 In addition, Oliver Mond will, following admission, have been granted 435,000 Carrwood Warrants.

3 In addition, Raymond Donn will, following admission, have been granted 375,000 Carrwood Warrants.

4 In addition, Sound Financial will, following admission, have been granted 2,983,722 Carrwood Warrants.

Carrwood Warrants: a warrant to subscribe for one ordinary share at 4p per share between the first anniversary
and the third anniversary of admission.

NAMES AND ADDRESSES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (H) OF THE AIM RULES:
N/A

ANTICIPATED ACCOUNTING REFERENCE DATE:
30 June

EXPECTED ADMISSION DATE:
4 January 2006

NAME AND ADDRESS OF NOMINATED ADVISER:
Until 4 January 2006:

Zeus Capital Limited
3 Ralli Courts
West Riverside
Manchester
M3 5FT.



At 4 January 2006:

WH Ireland Limited
11 St James's Square
Manchester
M2 6WH

NAME AND ADDRESS OF BROKER:
WH Ireland Limited
11 St James's Square
Manchester
M2 6WH.

DETAILS OF WHERE (POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A STATEMENT
THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE ADMISSION OF ITS SECURITIES:
Copies of the admission document containing full details about the applicant and the admission of its securities
will be available free of charge to the public until at least one month after admission at the offices of:-

WH Ireland Limited
11 St James's Square
Manchester
M2 6WH.

DATE OF NOTIFICATION:
14 December 2005

NEW/ UPDATE (see note):
New




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