Acquisition

RNS Number:4416N
Parkman Group PLC
11 July 2003


Immediate Release                                          Friday 11th July 2003


                            PARKMAN GROUP PLC

         Acquisition of Atkins Odlin Consulting Engineers Limited



Parkman Group plc ("Parkman" or the "Company"), the professional consultancy and
outsourcing group, is pleased to announce the acquisition of the entire issued
share capital of the specialist design consultancy, Atkins Odlin Consulting
Engineers Limited ("Atkins Odlin"), from its founders, Ron Atkins and Peter
Odlin.

An initial consideration of #4.1 million will be satisfied in cash, with
deferred consideration of a further #0.25 million satisfied through the issue of
new ordinary shares in Parkman on the first anniversary of the transaction.
Further additional consideration may become payable based upon the pre-tax
profits of Atkins Odlin for the twelve months to 30 June 2004. Any such
additional consideration would be satisfied by the issue of new ordinary shares
in Parkman.  The new ordinary shares may not be disposed of for a period of two
years from the date of their issue.   The maximum total consideration payable
will be #5.0 million.

Atkins Odlin is a leading provider of traffic control and communications,
street-lighting and engineering design services to the UK Highways Agency and to
local authorities.  The company has offices in London, Coventry, Liverpool,
Leeds and Stockport.  Ron Atkins and Peter Odlin will continue in their current
roles following completion.

Atkins Odlin made a profit before taxation of #933,000 for year ended 30 April
2003 and at that date employed net assets of #1.24 million.

Richard Cuthbert, Parkman's Chief Executive, commenting on the acquisition said:


"The acquisition of Atkins Odlin fits well alongside our existing long-term
outsourcing contracts.  It enables us to broaden our offering in the highways
sector, to include the growth markets of motorway control and communications,
urban traffic control and street lighting.  We are delighted that Atkins Odlin
have chosen to join the Parkman Group - together we will be playing a major role
in highway authorities' efforts to maximise strategic and urban road network
capacity.  We anticipate that Atkins Odlin will contribute positively to our
growth in its first full year as a member of the Parkman Group."

Ron Atkins, Managing Director of Atkins Odlin added:

"We have known Parkman ever since we were established in 1986 and have worked
closely with them throughout this period.  The needs of our clients, the trends
in our marketplace and the scale of our current business all mean that the time
is now right for us to become part of a bigger business.  We are confident that
as part of the Parkman Group we will be able to embrace the significant growth
prospects that lie ahead."



                                     -END-



For further information


Parkman Group
Richard Cuthbert, Chief Executive                                  020 7874 7717
Richard Archer, Chairman                                           0121 355 8949

Buchanan Communications                                            020 7466 5000
Richard Darby
James Strong


Notes to Editors:

Parkman is a professional support services organisation that works extensively
with national, regional and local government, utilities, rail infrastructure
operators, education authorities and in the defence sector to provide wide
ranging technical and managerial expertise.

Outsourcing activities focus on mainly public sector operations predominantly in
highways and transportation, rail, water, property and social housing
management, defence and education. Underpinning this business is Parkman's
consultancy practice, which in addition, provides expertise in environment
management, land information management and project management.




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