Acquisition

RNS Number:7551O
Tellings Golden Miller Group PLC
18 August 2003


18 August 2003


                        Tellings Golden Miller Group plc

                                 Acquisition


The Board of Tellings Golden Miller Group plc is pleased to announce that its
subsidiary, Tellings Golden Miller Buses Limited ("TGM Buses"), on Friday 15
August acquired the Dartford operations of Crystals Coaches Limited, which are
currently serviced by 22 buses (of which 12 are low floor buses) operating 4
Transport for London (TfL") routes, being the R2, B14, R6 and a Mobility Route,
and 4 Kent County Council school contracts.  The operating contracts with TfL
are of 5 or 7 years duration, expiring at various times, the first one being on
3 February 2006.  In addition, TGM Buses has taken over leasehold premises in
Dartford Road, Dartford, Kent. Engineering requirements will be undertaken at
the Dartford premises.  TGM Buses is acquiring 17 of the Crystals Coaches
Limited buses currently in operation and will make up the shortfall of 5 buses
from its own fleet.  TGM Buses is also acquiring all the plant and equipment on
site together with a manager and 55 employees.  The Board's intention will be to
use the acquisition as a basis for expanding the Group's bus operations with TfL
in South East London.

Contracted revenue for the Dartford operations of Crystals Coaches Limited for
the year ended 30 June 2003 was approximately #1.6 million.

The acquisition is in line with the Board's stated strategy of extending the
network of its bus operations in London and the South East. The acquisition will
increase the number of TfL routes operated by TGM Buses from 13 to 17.



Enquiries

Tellings Golden Miller                                  Tel: [phone]
Stephen Telling, Chairman and Chief Executive
Bob Hodgetts, Finance Director

City Financial Associates                               Tel: [phone]
Tony Rawlinson
James Caithie

College Hill                                            Tel: [phone]
Gareth David
Crawford Burden



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