Board Changes/NoticeofResults

RNS Number:4193Q
Asfare Group plc
24 August 2005

                                Asfare Group plc


Press Release                                                   24 August 2005



                    Board Changes, Potential Acquisition and
                             Date of Final Results

Asfare Group plc ("Asfare" or "the Group"), the UK's leading supplier of ladders
and related equipment to the UK Fire Industry, today announces the strengthening
of the executive board and that it is in talks concerning a potential
acquisition within the Homeland Security sector.

Board Appointments

The Company has appointed with immediate effect, Tony O'Neill (54) as Chief
Executive to succeed David Chisnall who will become Deputy Chairman. David
became Chairman of FIRESA, the fire and rescue industry equipment suppliers'
trade association, earlier this year. He will continue to make available to the
Company his industry expertise and wealth of relationships but will reduce his
commitment to the business to three days a week. Tony O'Neill has considerable
experience in leading and developing growth businesses and for the last seven
years to 2005 was UK Managing Director of Rentokil Initial's Security Division,
which has a turnover in excess of #100 million.

Matters for disclosure under paragraph (g) of Schedule 2 of the AIM Rules with
respect to the appointment of Tony O'Neill as Chief Executive of Asfare Group
plc:  

Full name:                                      Anthony Arthur O'Neill

Age:                                            54

Current directorships:                          None

Directorships held within the last 5 years:     Initial Aviation Limited

                                                Initial Security Limited

                                                Guardrite Public Limited Company

                                                British Security Industry 
                                                Association Limited



Adrian Jones, Group Finance Director, will resign with effect from 31 August
2005 to take up another appointment and will be succeeded by Tim O'Connor (36)
with effect from 1 September 2005. He was CFO of Tandberg Television ASA (a
Norwegian listed company) between 2002 and 2005 during which time he was
instrumental in the successful turnaround of the business to a current market
capitalisation of approximately #500 million. He was also responsible for
enlarging Tandberg's UK institutional shareholder base and was involved in
substantial acquisition activity for Tandberg.

Matters for disclosure under paragraph (g) of Schedule 2 of the AIM Rules with
respect to the appointment of Tim O'Connor as Group Finance Director of Asfare
Group plc:

Full name:                                      Timothy Paul O'Connor

Age:                                            36

Current directorships:                          Meredell Limited (UK)

Directorships held within the last 5 years:     Tandberg Television Limited (UK)

                                                Tandberg Television, Inc (USA)

                                                Tandberg Television Limited 
                                                (Hong Kong)

                                                Tandberg Television BVI (BVI)

                                                Tandberg Television GmbH (Germany)

                                                Tandberg Television Holding GmbH 
                                                (Germany)

                                                Tandberg Television Verwaltungs 
                                                GmbH (Germany)


Tim Wightman, Chairman, said: "These two widely-experienced executives will
bring valuable skills to the Group as it grows organically and by acquisition
and they will be able to benefit from David Chisnall's deep knowledge of our
core industry."

Potential Acquisition

Asfare is at an advanced stage of negotiation to purchase a UK manufacturer of
security equipment which is a leader in its sector.  A further announcement will
be made on satisfactory conclusion of these negotiations.

The strengthening of the Board, along with the proposed acquisition,  signal a
broadening of Asfare's target markets from its established position in fire and
rescue equipment into the wider field of homeland security. The board believe
that this wider market will generate significant organic growth and acquisition
opportunities, as well as having considerable synergistic benefits for the
Group.

Preliminary Announcement

Asfare expects to announce its financial results for the year ended 31 March
2005 on 20 September 2005.



Tim Wightman

Chairman

24 August 2005




For further information, please contact:


Enquiries:

Asfare Group plc
David Chisnall,  Deputy Chairman                       Tel: [phone]
Tim Wightman, Chairman


Seymour Pierce
Mark Percy/John Depasquale                             Tel: [phone]


Media enquiries:
Abchurch Communications
Ariane Comstive/Julian Bosdet                          Tel: [phone]
[e-mail]



                                    - Ends -




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