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VHE Holdings PLC (VHE)


Wednesday 11 July, 2001

VHE Holdings PLC

Post Balance Sheet Event

VHE Holdings PLC
11 July 2001

FOR IMMEDIATE RELEASE                               11th July, 2001

                  VHE HOLDINGS PLC ('VHE' OR THE 'COMPANY')

                           POST BALANCE SHEET EVENT

 Appointment of Provisional Liquidators to the Independent Insurance Company
                          ('Independent Insurance')

VHE had their 'Contractor All Risks' and 'Public Liability' policies placed
with Independent Insurance. Following the announcement of the appointment of a
provisional liquidator to Independent Insurance the board of VHE conducted an
assessment of the outstanding claims on these policies. The board, based on
this assessment, has decided to make a £300k provision against these potential
liabilities in the financial statements for the year ended 31 March 2001.

In providing against these potential liabilities, the board has assumed there
will be no distributions made by the liquidators. The profit before tax of £
1.037m for the year ended 31 March 2001 declared in the preliminary results
will be correspondingly amended to £0.737m.


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