Further re suspension

RNS Number:6901J
Multi Group PLC
04 April 2003

                                                                    4 April 2003

                   Multi Group PLC ("Multi" or the "Company")

Further to the Company's request for the suspension of its shares and the
announcement of 28 March 2003 accompanying the suspension, the Company is
pleased to announce that agreement in principle, subject to contract and due
diligence, has been reached to provide new long term equity funding.

It is currently envisaged that any equity fundraising will be structured as an
underwritten offer to shareholders, allowing shareholders the opportunity to
fully participate. An extraordinary general meeting of the Company will be
convened to implement the equity fundraising and it is envisaged a circular
calling such meeting and giving details of the funding, along with the accounts
for 2002, will be sent to shareholders within the next four weeks. The Company
is considering transferring the quotation of its shares from the Official list
to AIM and an announcement will be made in due course.

Multi's bankers continue to be supportive.

Multi's core  Tool and Equipment Hire division continues to experience strong
trading, especially in the new locations outside London, and remains cash flow
positive.

Multi has experienced cash flow difficulties due, predominantly, to funding the
Software division. This funding has essentially been provided out of cash flow
generated by the Tool and Equipment Hire division.

Multi's Software division is now making progress and is currently essentially
cash neutral. Assuming the product continues to be well received in the market
place, the Company does not envisage significant further cash will be required
to achieve profitability and positive cash flow. The Company is currently
exploring the option of identifying a strategic partner or of de-merging the
Software Division to shareholders and seeking a quotation for the demerged
entity. Pursuit of these options will enable the full potential of the company's
unique software offering to be realised.

Corporate Synergy PLC, who acted for the company on flotation in 1998 and on its
rights issue in 1999 have been appointed as the Company's new advisers.



Contacts:

Russell Bracegirdle, chief executive      Multi Group plc          08701 602901
Andrew Brundle, chief financial officer   Multi Group plc          08701 602969
Edward Vandyk                             Corporate Synergy plc    020 7626 2244
Alex Walters                              Walters Associates       07771 713608



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