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Durlacher Corp PLC (PMR)

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Friday 08 August, 2003

Durlacher Corp PLC

Compulsory Acqn of Shares

Durlacher Corporation PLC
08 August 2003


Not for release, publication or distribution in or into the United States,
Canada, Australia or Japan


Embargoed until 7.00a.m.
8 August 2003

                           Durlacher Corporation Plc

                      Recommended offer for web-angel plc

             Compulsory acquisition of outstanding web-angel Shares

                                      and

               cancellation of trading of web-angel Shares on AIM


On 22 July 2003, Durlacher Corporation Plc ('Durlacher') announced that the
recommended offer made by Nabarro Wells & Co. Limited on behalf of Durlacher for
all of the web-angel Shares had been declared unconditional in all respects save
as to Admission.  The Offer became unconditional in all respects on 23 July 2003
when Admission occurred.

Durlacher announces that valid acceptances have been received in respect of
120,720,968 web-angel Shares representing 92.83 per cent. of web-angel Shares in
issue and 92.09 per cent. of the web-angel Shares to which the Offer relates
(within the meaning of sections 428 to 430F of the Companies Act).

As a result, Durlacher announces that it is posting statutory notices pursuant
to section 429(4) of the Companies Act to web-angel Shareholders who have not
yet validly accepted the Offer, informing such web-angel Shareholders that it
will compulsorily acquire their web-angel Shares under the provisions of
Sections 428 to 430F of the Companies Act.  The compulsory acquisition procedure
is expected to be completed on, or shortly after, 19 September 2003.

The Offer will remain open until 1.00 p.m. on 22 August 2003. web-angel
Shareholders who have not yet accepted the Offer and who wish to do so should
complete and return their Form of Acceptance in accordance with the instructions
printed thereon as soon as possible.  Additional Forms of Acceptance are
available from Computershare Investor Services PLC (telephone number 0870 702
0100).  Settlement of the consideration due to web-angel Shareholders who accept
the Offer will be despatched within fourteen days of receipt of valid
acceptances relating to the Offer.

The Offer Document stated that Durlacher would procure web-angel to apply for
cancellation of the trading of web-angel Shares on AIM to take effect no earlier
than 20 business days after the Offer was declared or became unconditional in
all respects.  Accordingly, it is expected that trading on AIM of web-angel
Shares will be cancelled with effect from 7.00 a.m. on 11 August 2003.

Terms defined in the Offer Document have the same meanings when used herein
unless the context requires otherwise.


For further information:

Durlacher Corporation plc   020 7459 3600
Sophie Dawn, Marketing / Communications

Nabarro Wells & Co Limited   020 7710 7400
Nigel Atkinson / David Nabarro

Bell Pottinger Financial      020 7861 3232
David Rydell / Charlotte Kirkham

Nabarro Wells, which is regulated in the United Kingdom by the Financial
Services Authority, is acting exclusively for Durlacher and no one else in
connection with the Offer and will not be responsible to anyone other than
Durlacher for providing the protections afforded to clients of Nabarro Wells nor
for giving advice in relation to the Offer.  The contents of this announcement
have been approved by Nabarro Wells for the purposes of s21 of the Financial
Services and Markets Act 2000.

KBC Peel Hunt, which is regulated in the United Kingdom by the Financial
Services Authority, is acting exclusively for web-angel and no one else in
connection with the Offer and will not be responsible to anyone other than
web-angel for providing the protections afforded to clients of KBC Peel Hunt nor
for giving advice in relation to the Offer.

This announcement does not constitute nor form any part of an offer or
invitation to purchase any securities.

The availability of the Offer to persons who are citizens, nationals or
residents of countries outside the UK may be affected by the laws of the
relevant jurisdictions.  Persons who are citizens, nationals or residents of
countries outside the UK should inform themselves of, and observe, any
applicable legal requirements.

The Offer is not made, directly or indirectly in or into the United States,
Canada, Australia or Japan.  Accordingly, copies of this announcement and any
other document relating to the Offer, are not being, and must not be, mailed or
otherwise distributed or sent in or into the United States, Canada, Australia or
Japan.


                      This information is provided by RNS
            The company news service from the London Stock Exchange                                                                                                                                                                                                        

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