MALCOLM GROUP Share buyback set at 85p.

Malcolm group formally Grampian holdings, Have set the 45% share buyback at 85 pence per share.

The Board has fixed the price for the cancellation of the ordinary shares at
85.0p per share, representing a premium of 8.3% over the middle market price
at the close of business yesterday. The Board will now proceed with an
application to the High Court for sanction of a reduction in capital as
described in the circular to shareholders dated 21 December 2001.