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Montpellier Group (MPL)

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Tuesday 11 September, 2001

Montpellier Group

Offer Update

Montpellier Group PLC
11 September 2001

                    Montpellier Group plc ('Montpellier')
                       Cash Offer for VHE Holdings plc

Offer Update

Montpellier announces that its offer for VHE is now unconditional as to
acceptances.  As at 3.00 pm on 11 September 2001, valid acceptances of the
Offer have been received in respect of 10,526,227 ordinary shares in VHE,
representing approximately 32.79 per cent. of the existing issued ordinary
share capital of VHE.  The acceptances received include acceptances in respect
of 10,097,038 VHE shares held by Mr B M Thomson and his family trusts which
were the subject of an irrevocable undertaking over 10,160,733 shares.
Montpellier already owns 6,410,950 VHE shares which represent 19.97 per cent.
of VHE existing issued ordinary shares.  The acceptances received and shares
already held by Montpellier in aggregate represent 52.76 per cent. of VHE's
existing issued share capital.

VHE shareholders are reminded that the first closing date for the Offer is 17
September 2001.  After this date the Offer will remain open for acceptance
until further notice.  An Extraordinary General Meeting of Montpellier is
being held on 14 September 2001 to seek Montpellier's shareholders' approval
to the Offer and acquisition by Montpellier of VHE.

6,410,950 VHE Shares were held by Montpellier prior to the commencement of the
offer period representing 19.97 per cent. of VHE's issued ordinary share
capital.  A further 25,000 VHE Shares were held by Peter Gyllenhammar,
Non-executive Deputy Chairman of Montpellier.  Save as disclosed above,
neither Browallia nor any party deemed to be acting in concert with
Montpellier otherwise hold, have acquired or agreed to acquire any VHE Shares
during the Offer period.

No acceptances of the Offer have been received from persons deemed to be
acting in concert with Montpellier.

This announcement, for which the Directors of Browallia are responsible, has
been approved for the purpose of Section 57 of the Financial Services Act 1986
by Rowan Dartington & Co. Limited.

Rowan Dartington & Co. Limited, which is regulated by the Securities and
Futures Authority Limited, is acting as financial adviser to Browallia and
no-one else in relation to the Offer and will not regard any other person as
its customer or be responsible to anyone other than Browallia for providing
the protections afforded to customers of Rowan Dartington nor for providing
advice in relation to the Offer.



       

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