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Rensburg plc (RBG)


Friday 14 January, 2005

Rensburg plc

Pre-conditional Offer

Rensburg plc
14 January 2005

                                                                 14 January 2005

                              RENSBURG PLC


The Board of Rensburg plc ('Rensburg') announces that it has received a
preliminary, pre-conditional offer proposal with one of the pre-conditions being
that Rensburg ceases to pursue the proposed agreed merger with Carr Sheppards
Crosthwaite Limited ('Carr Sheppards Crosthwaite').  The potential offeror and
its advisers have been informed that its proposals are not considered to be in
the best interests of Rensburg shareholders, clients or staff.

The terms of the proposal value each Rensburg share at 610p to be satisfied in
the potential offeror's shares which are listed on the London Stock Exchange.
The Board has unanimously rejected these proposals as being opportunistic,
inadequate and uncertain.

Nevertheless, the potential offeror has requested information under Rule 20.2 of
the City Code on Take-Overs and Mergers (the 'Code'), and, subject to receiving
satisfactory confidentiality undertakings, Rensburg will comply with its
obligations under the Code.

Rensburg continues to make good progress towards finalising details of its
agreed merger with Carr Sheppards Crosthwaite.

This announcement is not being made with the agreement of the potential offeror.
  The Board of Rensburg emphasises that there can be no certainty that an offer
will be made nor as to the terms on which an offer might be made.  Further
announcements will be made when appropriate.

Mike Burns, Chief Executive of Rensburg said:

'We have known this party for a long time and have never received any overtures
prior to the announcement of our merger with Carr Sheppards Crosthwaite.  We
will continue to fulfil our fiduciary duty and evaluate any approaches in the
best interests of our shareholders, clients and staff.'


For further information, please contact:

 Michael Burns, Chief Executive                           0151 227 2030

 Fenchurch Advisory Partners
 Malik Karim                                              020 7961 0740

 gcg hudson sandler
 Nick Lyon                                                020 7796 4133

Fenchurch Advisory Partners Limited ('Fenchurch Advisory Partners'), which is
authorised and regulated by the Financial Services Authority in the UK, is
acting for Rensburg and no one else in connection with the transaction described
in this announcement and will not be responsible to any person other than
Rensburg for providing the protections afforded to the clients of Fenchurch
Advisory Partners nor for providing advice in relation to the transaction.

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

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