Argent Group PLC - Offer Acceptances

RNS No 4104b
ARGENT GROUP PLC
7th August 1997



NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION IN OR INTO THE 
UNITED STATES, CANADA, AUSTRALIA OR JAPAN


BriTel Property

Offer for Argent

BriTel Property (a company wholly owned by the BT Pension 
Scheme) announces that as at 3.00 p.m. on 6th August, 1997, it 
either holds or has received valid acceptances in respect of a 
total of 52,369,773 Argent Shares, representing approximately 
86.6 per cent. of the issued share capital of Argent.  The offer 
was declared wholly unconditional on 4th August, 1997.

BriTel Property intended that, if acceptances were received in 
respect of such number of Argent Shares as would result in the 
London Stock Exchange requirements for maintenance of listing 
ceasing to be met, then it would intend to place in the market 
excess Argent Shares provided that such a placing could be 
achieved on terms satisfactory to BriTel Property.  However, 
BriTel Property has been advised that a placing of Argent Shares 
could not be achieved on terms satisfactory to it.  The proposed 
placing will, therefore, not proceed.

The London Stock Exchange has not confirmed that Argent's 
listing will be maintained.

The Offer, including the Loan Note Alternative will remain open 
for acceptance until further notice.  Once sufficient 
acceptances are received, BriTel Property intends to apply the 
statutory procedures to acquire compulsorily the remaining 
Argent Shares.

END