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VHE Holdings PLC (VHE)

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Friday 07 September, 2001

VHE Holdings PLC

Letter to Shareholders

VHE Holdings PLC
7 September 2001

VHE Holdings plc ('VHE')


On 6 September, 2001 the Directors of VHE sent their response to the offer by
Montpellier Group plc ('Montpellier) for VHE to VHE shareholders ('Offer').


The Directors of VHE believe that the Offer is opportunistic and undervalues
the Company.


However, Montpellier has received an irrevocable undertaking to accept the
Offer in respect of 10,160,773 VHE Shares which, taken together with the VHE
Shares already controlled by Montpellier, represent approximately 51.7 per
cent of VHE's existing issued share capital.  Neither the Board nor Brown
Shipley is recommending what specific action VHE Shareholders should take.
The principal courses of action open to VHE Shareholders are as follows:


-   to accept the Offer of 28 pence in cash per VHE Share
-   not to accept the Offer and retain an investment in VHE
-   not to accept the Offer and sell their VHE Shares in the Open Market


Further details are contained in the letter to VHE Shareholders dated 6
September 2001.  Copies of the letter are available from the registered office
of the Company at Engine Lane, Shafton, Barnsley, South Yorkshire SY2 8SP.


For further information:


Michael Laycock, Chairman VHE Holdings plc                 01429 268089


Philip Johnson, Brown Shipley & Co Limited                 0161 214 6540





The directors of VHE accept responsibility for the information contained in
this announcement.  To the best of the knowledge and belief of the directors
of VHE (who have taken all reasonable care to ensure that such is the case),
the information contained in this announcement is in accordance with the facts
and does not omit anything likely to affect the import of such information.





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