Result of Equity Issue

RNS Number:0100R
H.R. Owen PLC
17 October 2003


                   H R Owen plc ("H R Owen" or "the Company")

                              Result of Open Offer

Following the closing of the Open Offer, announced on 24th September, 2003, at
3.00 p.m. on 16th October, 2003, valid applications had been received for
1,207,135 open offer shares.

The directors (other than John Robertson) and Shelton Corporation irrevocably
undertook to take up all or part of their respective entitlements under the open
offer in respect of 684,649 open offer shares, in aggregate, representing
approximately 27 per cent. of the open offer shares.

Certain of the directors irrevocably undertook not to take up all or part of
their respective entitlements under the open offer in respect of 731,261 open
offer shares, in aggregate, representing approximately 28.8 per cent. of the
open offer shares. Accordingly, J M Finn, as agent for the Company, placed these
731,261 open offer shares firm with institutional and certain other investors at
the issue price and conditionally placed the remaining 1,121,488 open offer
shares (which excludes those which are the subject of irrevocable undertakings
from existing qualifying shareholders to subscribe for their entitlements under
the open offer) with institutional and certain other investors at the issue
price, subject to recall to satisfy valid applications by qualifying
shareholders pursuant to the Open Offer.

Accordingly, the take-up under the Open Offer represents 47.6 per cent. of the
total open offer shares and 66.8 per cent. of the open offer shares excluding
the 731,261 open offer shares which certain of the directors undertook not to
take up.

The Open Offer remains conditional, inter alia, on the passing of the resolution
to be proposed at the extraordinary general meeting to be held later today.
Application has been made to the UK Listing Authority for the open offer shares
to be admitted to the Official List and to the London Stock Exchange for the
open offer shares to be admitted to trading on its market for listed securities.
It is expected that admission to listing will become effective and dealings in
the open offer shares on the London Stock Exchange will commence on 21st
October, 2003.

17th October, 2003

For further enquiries:

H R Owen Plc
Nick Lancaster (Managing Director)
David Jaggar (Finance Director)                                  020 7245 1122

John East & Partners Limited
John East/David Worlidge                                         020 7628 2200




                      This information is provided by RNS
            The company news service from the London Stock Exchange

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