Disposal/Acquisition

RNS Number:2568H
European Motor Hldgs PLC
10 February 2003

EUROPEAN MOTOR HOLDINGS plc ("EMH")



DISPOSAL OF PROPERTIES AND ACQUISITION OF DEALERSHIP


The Board of EMH announces the disposal on 7 February 2003 of its leasehold
property in Kenton, Newcastle upon Tyne.  The site, which has been surrendered
for redevelopment by a third party, operated one of the Group's eight Volvo
dealerships.  The majority of the dealership staff have been redeployed at the
Group's other Volvo sites pending the development of a new site for the business
within Newcastle.

The Group has also recently disposed of a surplus vacant freehold site in
Gateshead.


The two disposals generated cash proceeds of #2.8 million and net profits of
#1.7 million to be included in the Group's accounts for the year ending 28
February 2003.



The Board also announces that the Group acquired on 7 February 2003 the business
and certain assets of a Volkswagen dealership in Bebington on the Wirral for a
consideration of #0.2 million.  This acquisition builds on and complements the
Volkswagen dealerships already owned by the Group in Chester and Wrexham,
completing the Group's second major strategic territory for Volkswagen.




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