Disposal

RNS Number:9642I
Kingsbridge Holdings PLC
19 March 2003

Kingsbridge Holdings Plc

19 March 2003



KINGSBRIDGE HOLDINGS PLC ("KINGSBRIDGE" OR "THE COMPANY") COMPLETION OF DISPOSAL 
("DISPOSAL") OF INDEPENDENT FINANCIAL PARTNERSHIP LIMITED ("IFP") AND 
KINGSBRIDGE MANAGEMENT SERVICES PLC ("KMS")  
 


 Kingsbridge Holdings plc is pleased to announce completion yesterday of the
Disposal to a company ("Purchaser") connected with Ross Hyett, a former director
of the Company, and certain members of his management team, of IFP (and its
subsidiary companies) and KMS announced on 4 March 2003.  The terms of the
agreement ("Agreement") relating to the Disposal were varied in that two loan
facilities of #500,000 in aggregate proposed to have been made available to the
Purchaser, will not now be made available and that there were assigned to
Kingsbridge bank guaranteed loan notes to the value of #1 million and not #1.56
million as was previously agreed.  In all other respects, the terms of the
Agreement remain unchanged.



It is intended that the loan notes to the value of #1 million assigned to the
Company referred to above will be cancelled and the cash deposit of #1 million,
currently held by the Company's bankers, will be released leaving the Company
with a positive cash position.



Following completion of the Disposal, the Company will now take active steps to
take the Company forward.





Enquiries:


Kingsbridge Holdings plc                                           01423 523 311
Martin Greenwood

Teather & Greenwood Limited                                        020 7426 9000
Stephen Austin







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