Acquisition of New Dealership

    HR OWEN PLC                                  

                         ACQUISITION OF NEW DEALERSHIP                         

HR Owen, one of the UK's leading retailers of prestige motor cars, today
announced that it has acquired all the share capital of Heathrow Ltd, a
substantial BMW dealership in the West of London.

The business is being acquired for a cash consideration consisting of a
goodwill payment of £2.1 million and the value of net assets of approximately £
2.5 million.

During the year ended December 2002, the accounts show that Heathrow Ltd made a
profit of £1.1 million before tax and distribution to the shareholders. The
turnover was £44.7 million.

HR Owen also owns Holland Park BMW in West London. In addition to the BMW
marque, both dealerships operate Mini franchises.

Nicholas Lancaster, Chief Executive, said: "BMW and Mini have been one of the
fastest growing and most profitable franchises in the UK, and the expansion of
our BMW interests further consolidates our position as one of the leading
specialist car retailers in London and the Home Counties. We have recently
announced that we are also developing a third BMW dealership at Park Royal in
West London, and that we have been awarded Rolls-Royce (the third brand owned
by BMW) for London."

Enquiries:

Nicholas R Lancaster

Chief Executive

Tel: [phone]



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