Offer Update

RNS Number:3872Q
Mouchel Parkman plc
01 October 2003

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

                               Recommended Offer

                                       by

                               Cazenove & Co. Ltd

                                  on behalf of

                   Mouchel plc (renamed Mouchel Parkman plc)

                                      for

                               Parkman Group plc



COMPULSORY ACQUISITION OF OUTSTANDING PARKMAN SHARES

On 19 September 2003 Mouchel plc (renamed Mouchel Parkman plc) ("Mouchel
Parkman") declared that the recommended Offer by Cazenove & Co. Ltd ("Cazenove")
on behalf of Mouchel Parkman to acquire the entire issued and to be issued share
capital of Parkman Group plc ("Parkman") was unconditional in all respects as
all conditions to the Offer had been fulfilled or waived.

As at 3.00 p.m. on 30 September 2003, the latest practicable date prior to the
making of this announcement Mouchel Parkman had received valid acceptances in
respect of 34,738,603 Parkman Shares, representing 98.77 per cent. in value of
the Parkman Shares.

Consequently, Mouchel Parkman is today implementing the procedure under sections
 428 to 430F of the Companies Act 1985, as amended, to acquire compulsorily all
of the outstanding Parkman Shares which it has not already acquired, contracted
to acquire or in respect of which it has not already received valid acceptances.

The Offer for the entire issued and to be issued share capital of Parkman, as
set out in the Offer Document, will remain open for acceptance until further
notice.

As Mouchel Parkman stated in its announcement of 19 September 2003, it has
commenced 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 commenced and it is anticipated that cancellation of listing
and trading will take effect no earlier than 17 October 2003.

The definitions set out in the Offer Document dated 26 August 2003 have the same
meanings in this announcement unless the context otherwise requires.

Enquiries:


Mouchel Parkman plc            Kevin Young                        01932 337118
Cazenove                       Nick Garrett                       020 7588 2828
                               Malcolm Moir                       020 7588 2828



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

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, e-mail or other electron 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 announcements 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
clearance 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

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