Argent Group PLC - Offer Wholly Unconditional

RNS No 2655b
ARGENT GROUP PLC
4th 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 at 3.00 p.m. on 1st August, 1997,
the closing date of the Offer, valid acceptances had been
received in respect of 28,081,728 Argent Shares,
representing approximately 46.5 per cent. of the issued
share capital of Argent.

Prior to the Offer BriTel Property were interested in 
23,879,947 Argent Shares representing approximately 39.5 
per cent. of the issued share capital of Argent.

Therefore, as at 3.00 p.m. on 1st August, 1997, BriTel
Property either held or had received valid acceptances in
respect of a total of 51,961,675 Argent Shares, 
representing approximately 85 per cent. of the issued share 
capital of Argent.

Accordingly, BriTel Property announces that the Offer,
including the Loan Note Alternative, has become wholly
unconditional and will remain open for acceptance until
further notice.



END