Offer Update

RNS Number:9490P
Mouchel plc
19 September 2003

Mouchel plc
19 September 2003



Not for release, distribution or publication in or into the United States of
America, Canada, Japan or Australia



                                  Mouchel plc



                    Recommended Offer for Parkman Group plc



                  OFFER DECLARED UNCONDITIONAL IN ALL RESPECTS



Mouchel announces that following Admission of the New Mouchel Shares earlier
today, all of the conditions of the Offer have now been satisfied or waived.
Accordingly the Offer is declared unconditional in all respects and will remain
open for acceptance until further notice.



The Mouchel Shares due to accepting Parkman Shareholders will be despatched
within 14 days of today's date in respect of acceptances already received which
are valid and complete in all respects or within 14 days of the date of receipt
in respect of further acceptances which are valid and complete in all respects.



Mouchel stated in the Offer Document that, after the Offer is declared
unconditional in all respects, it would take steps to procure the making of an
application by Parkman to delist the Parkman Shares from the Official List and
to cancel trading on the London Stock Exchange's market for listed securities.
The notice period for such cancellation has now commenced and it is anticipated
that cancellation of listing and trading will take effect no earlier than 17
October 2003.



Mouchel intends to acquire compulsorily any outstanding Parkman Shares to which
the Offer relates by applying the provisions of sections 428 to 430F inclusive
of the Companies Act 1985.



Parkman Shareholders who have not yet accepted the Offer are urged, if their
Parkman Shares are in certificated form (that is, not in CREST) to complete and
return their Forms of Acceptance as soon as possible or, if their Parkman Shares
are held in uncertificated form (that is, in CREST) to ensure that an Electronic
Acceptance is made by them, or on their behalf, which settles as soon as
possible.



Terms defined in the Offer Document dated 26 August 2003 have the same meaning
in this announcement unless the context otherwise requires.





Enquiries:


Mouchel plc                        Kevin Young                   01932 337118


Cazenove                           Nick Garrett                  020 7588 2828
                                   Malcolm Moir



Cazenove, which is regulated in the United Kingdom by the Financial Services
Authority, is acting for Mouchel and for no one else in connection with the
Offer and will not be responsible to anyone other than Mouchel for providing the
protections afforded to clients of Cazenove, nor for providing advice in
relation to the Offer or any matter referred to herein or in the Offer Document,
Listing Particulars or Circular.



The Offer is not being made, directly or indirectly, in or into, or by use of
the mails, or by any means or instrumentality (including, but not limited to,
facsimile transmission or other electronic transmission, telex or telephone) of
interstate or foreign commerce, or any facilities of a national, state or other
securities exchange, of the United States, nor is it being made, directly or
indirectly, in or into Canada, Australia or Japan and is not capable of
acceptance by any such use, means, instrumentality or facilities or from within
the United States, Canada, Australia or Japan.  Accordingly, copies of this
announcement are not being, and must not be, mailed or otherwise distributed or
sent in or into or from, the United States, Canada, Australia or Japan.



This announcement is not an offer of securities for sale in the United States
and the New Mouchel Shares have not been, and will not be, registered under the
US Securities Act or under the securities laws of any state, district or other
jurisdiction of the United States, Canada, Australia or Japan and no regulatory
clearances in respect of the New Mouchel Shares have been, or will be, applied
for in any jurisdiction other than the UK.  Accordingly, unless an exemption
under the US Securities Act or other relevant securities laws is applicable,
the New Mouchel Shares are not being, and may not be, offered, sold, resold,
delivered or distributed, directly or indirectly, in or into the United States,
Canada, Australia or Japan or to, or for the account or benefit of, any US
person or any person resident in Canada, Australia or Japan.




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

OUPSFDSAUSDSEDU