Acquisition

RNS Number:2007O
Enneurope PLC
31 July 2003


31 July 2003


                                 ENNEUROPE PLC

                         ("Enneurope" or "the Company")


                   Acquisition of business and concrete plant

                   from Euroinsbud sp. z o. o. ("Euroinsbud")


Enneurope is pleased to announce that its Polish subsidiary, Pol-Rek sp. z o.
o., ("Pol-Rek") has purchased the concrete plant, related assets and business at
Strachocin, Stargard, from Euroinsbud. The total consideration is Zloty
1,500,000 (approximately #240,000) of which Zl 500,000 (approximately #80,000)
has been paid with the balance due on fulfillment of certain conditions or 30
April 2004, whichever is the sooner.


Enneurope's Board has received an independent valuation of the fixed assets
acquired, being approximately Zl 1,500,000 (approximately #240,000).


The acquisition of the concrete plant at Stargard, following Enneurope's earlier
acquisitions, enables the Company to continue its strategy of increasing its
market share in North West Poland.


Vaughan McLeod, Chairman, commented:


"The concrete plant at Stargard, some 25 miles east of Szczecin, is an excellent
bolt-on acquisition which will allow further rationalisation of this important
market. Our competitors in this market have recently announced similar
acquisitions and improvements in processes and performance in this marketplace
are becoming more evident.


Following the recent upgrade of production facilities at our Moryn Quarry, we
now have the added advantage of being able to supply our own aggregates to this
concrete plant and this gives us the opportunity to achieve early cost savings
and synergy benefits. "



ENQUIRIES:

Enneurope plc                                     01332 694 444
Vaughan McLeod, Chairman

Altium Capital                                    0161 831 9133
Phil Adams





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