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Woodspeen Training Plc (WSTP)

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Wednesday 06 April, 2011

Woodspeen Training Plc

Acquisition


                                                                   6 April 2011

                            WOODSPEEN TRAINING PLC                             

                 ("Woodspeen" or the "Company" - Ticker WSTP)                  

                                  ACQUISITION                                  

The  Directors  of Woodspeen  Training plc ("Woodspeen" or  the "Company") are
pleased to announce that the Company  has today completed the purchase of 100%
of the issued share capital of BDTS Training Services Ltd ("BDTS "), a private
company  based  in  Bradford, West Yorkshire that is focused on the Government
sponsored vocational training sector.

BDTS commenced  trading in  2004 and its principal business is the delivery of
`Apprenticeships' for 16-18 year olds and for 19+ adults.

This business is complementary  to Woodspeen's existing business activities in
Yorkshire and it is the Board's intention  to realise the synergistic benefits
from integrating the business into the Group's current operations.

BDTS  currently  employs  some  20  full  and part-time staff and has over 200
learners enrolled on its apprenticeship training programmes. In its last OFSTED
inspection,  in  October  2009, BDTS achieved an overall grade 3 (satisfactory)
rating. Its  overall  apprenticeship framework success rates are comparable to
the national average.

The consideration for the business comprises £607, 000 cash plus 500,000 shares
in  Woodspeen  Training  plc. The  cash  consideration  is  payable  in full at
completion and the consideration shares will rank pari-passu with the Company's
existing shares.

In addition Woodspeen will make a  payment in cash, on a £ for £ basis, for the
net assets of BDTS in excess of £150,000  (the "Excess Net Assets"). The  level
of the Excess Net Assets will be determined by reference to a set of completion
accounts to be drawn up as at 31 March 2011. Settlement is  expected to be made
before the end of May 2011 and the amount to be paid for the  Excess Net Assets
is currently expected to be in the region of £1.0M.

The cash element of the  consideration will  be met in  full from the Company's
existing resources.

BDTS's  turnover and  operating  profit  for  its  last two financial years are
summarised  below. These  numbers  have been extracted from unaudited financial
statements prepared by BDTS's accountants.

                                                  Year ended         Year ended
                                                     31 July            31 July
                                                        2010               2009

                                                       £'000              £'000

Turnover                                               1,080              1,189

Operating profit before directors' remuneration          427                534

Adjustments (see note below)                            (160)              (160)

                                                       ------             ------

Operating profit after adjustments                       267                374

                                                       ======             ======

Note: The  adjustments  that  have been made to both years' figures are intended
to reflect the new staffing  arrangements  that  are planned to take effect post
acquisition.

Woodspeen's strategy is to pursue organic growth within  its existing businesses
and to acquire  businesses  that  run  training  programmes  that  are likely to
continue to attract Government funding. The Board  believes that the acquisition
of BDTS, with its Apprenticeship programmes for young people and adults, fulfils 
this criterion.

The Company currently expects to release its results for the year ended 31 March 
2011 in the week commencing 27 June 2011 and to hold its AGM on 25 July 2011.

The directors of Woodspeen Training plc take responsibility for this statement.

Contacts:

Woodspeen Training plc             Si Hussain                      0786 283 7437
                                   Lynn Chandler                   0793 275 3799

Corporate Advisor
St Helens Capital Partners LLP     Oliver Cooke                    020 7368 6959

Broker
Fairfax I.S. PLC                   Ewan Leggat/Laura Littley       020 7598 5368


                                                                                                                                                                                           

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