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Rensburg Sheppards (RBG)

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Monday 23 May, 2005

Rensburg Sheppards

Share capital consolidation

Rensburg Sheppards plc
23 May 2005




                     Rensburg Sheppards plc (the "Company")

                     Share consolidation and block listing



The Company announces that the share capital consolidation, referred to in the
listing particulars dated 23 March 2005 and the announcement of 6 May 2005, took
place at 6.01pm on 20 May 2005.  The Company's share capital has been
consolidated by the issue of 91 new ordinary shares of 10 90/91 pence each for
every 100 existing ordinary shares of 10 pence each.  As a result, the Company
now has in issue 43,307,171 ordinary shares of 10 90/91 pence each.



Of the 43,307,171 ordinary shares in issue, 23,205,000 shares do not rank for
the 45 pence special dividend payable to shareholders on 1 June 2005, nor any
dividend declared in respect of the six months ending 31 May 2005.



Following application to the UK Listing Authority and to the London Stock
Exchange, the new ordinary shares of 10 90/91 pence each have been admitted to
the Official List of the UK Listing Authority and to trading on the London Stock
Exchange's market for listed securities.  Dealings in the new ordinary shares
will commence at 8.00 a.m. on 23 May 2005.



Following application to the UK Listing Authority and to the London Stock
Exchange, 1,044  ordinary shares of 10 90/91 pence each (1,147 prior to
consolidation) pursuant to the exercise of options issued on 6 April 2005 have
been admitted to the Official List of the UK Listing Authority and to trading on
the London Stock Exchange's market for listed securities.  Dealings in the new
ordinary shares will commence at 8.00 a.m. on 23 May 2005.  These 1,044 shares
are included in the 43,307,171 ordinary shares previously referred to.



A further 589,836 ordinary shares of 10 90/91 pence each have been admitted to
the Official List of the UK Listing Authority and to trading on the London Stock
Exchange's market for listed securities by way of block listing.  These shares
are expected to be issued in connection with the Company's SAYE scheme and will
rank pari passu with the existing 20,102,171 ordinary shares of 10 90/91 pence
each ranking for the 45p special dividend and any dividend declared in respect
of the six months ending 31 May 2005.



Following the completion of the acquisition of Carr Sheppards Crosthwaite
Limited and the issue of 25,500,000 ordinary shares of 10 pence each on 6 May
2005, certain notifiable interests in the shares of the Company will cease to be
notifiable by virtue of the Company's enlarged share capital.





END




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