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Mazaran Leisure PLC (MZR)

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Tuesday 03 October, 2000

Mazaran Leisure PLC

Result of Open Offers

Mazaran Leisure PLC
3 October 2000


Mazaran Leisure plc (to be renamed Springhealth Leisure plc) (the 'Company')
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Result of the First and Second Open Offers
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Valid applications in respect of the First Open Offer announced on 8th
September 2000 were received in respect of 1,652,960 ordinary shares of 10p
each in the capital of the Company (as adjusted for the proposed one for five
consolidation of the existing 2p shares) ('Ordinary Shares'), representing
49.3 per cent. of the total number of Ordinary Shares the subject of the First
Open Offer.  The balance of 1,700,645 Ordinary Shares not taken up under the
First Open Offer will be taken up by institutional shareholders with whom they
were conditionally placed.

It is expected that admission of the Ordinary Shares issued pursuant to the
First Placing and Open Offer, which is conditional upon the passing of certain
of the resolutions to be proposed at the First EGM on 4th October 2000, will
become effective and dealings on the Alternative Investment Market will
commence on 5th October 2000.

Valid applications in respect of the Second Open Offer also announced on 8th
September 2000 were received in respect of 48,374 Ordinary Shares,
representing 2.4 per cent. of the total number of Ordinary Shares the subject
of the Second Open Offer.  The balance of 1,963,789 Ordinary Shares not taken
up under the Second Open Offer will be taken up by institutional shareholders
with whom they were conditionally placed. 

It is expected that admission of the Ordinary Shares issued pursuant to the
Second Placing and Open Offer, which is conditional upon the passing of
certain of the resolutions to be proposed at the Second EGM on 4th October
2000, will become effective and dealings on the Alternative Investment Market
will commence on 6th October 2000.




                                                            

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