Offer Wholly Unconditional

RNS Number:3528T
Raven Mount plc
17 December 2003

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE
UNITED STATES, CANADA, AUSTRALIA OR JAPAN.


FOR IMMEDIATE RELEASE 17 December 2003


                                     Offer

                                   by WestLB

                                  on behalf of

                                Raven Mount plc

                                      for

                              Swan Hill Group PLC


Offer declared unconditional in all respects.


On 13 November 2003 the Board of Raven Mount declared the Offer unconditional as
to acceptances. All of the remaining conditions of the Offer have now been
satisfied or waived, and, accordingly, the Board of Raven Mount has now declared
the Offer unconditional in all respects. The Offer will remain open for
acceptance until further notice.


Trading in Raven Mount Shares on AIM commences today, 17 December 2003.


The CREST accounts of Swan Hill Shareholders who have already accepted the Offer
will be credited with their Raven Mount Shares as soon as possible and in any
event by no later than 31 December 2003. Those Swan Hill Shareholders who have
already accepted the Offer and elected to receive their Raven Mount Shares in
certificated form will receive share certificates as soon as possible and in any
event by no later than 31 December 2003. Transfers will be certificated against
the register pending the receipt of share certificates.


Raven Mount intends to procure the making of an application by Swan Hill to the
UK Listing Authority for the cancellation of the listing of Swan Hill Shares on
the official list of the UK Listing Authority and to the London Stock Exchange's
market for listed securities for the cancellation of trading in Swan Hill
Shares. De-listing would significantly reduce the liquidity and marketability of
any Swan Hill Shares which are not the subject of a valid acceptance under the
Offer.


Swan Hill Shareholders, holding Swan Hill Shares in certificated form, who wish
to accept the Offer should complete the Form of Acceptance and return it,
together with supporting documents, to the receiving agents to the Offer, Capita
IRG Plc, at Corporate Actions Department, PO Box 166, The Registry, 34 Beckenham
Road, Beckenham, Kent BR3 4TH as soon as possible.


Swan Hill Shareholders, who hold their Swan Hill Shares in uncertificated form,
wishing to accept the Offer should do so using the procedure set out in the
Offer Document.


Additional Forms of Acceptance are available from Capita IRG Plc, by telephoning
0870 162 3100 (if calling from within the UK) or [phone] (if calling
from outside the UK).


Save as disclosed in this announcement or in the Offer Document, neither Raven
Mount nor any persons acting or deemed to be acting in concert with them held
any Swan Hill Shares (or rights over any Swan Hill Shares) prior to the Offer
Period and neither Raven Mount nor persons acting or deemed to be acting in
concert with them have acquired or agreed to acquire any Swan Hill Shares (or
rights over any Swan Hill Shares) since the commencement of the Offer Period.


Terms used in this announcement shall have the meaning given to them in the
Offer Document, save where the context requires otherwise.


Enquiries

WestLB: Lars Lemke          020 7020 4000


This announcement does not constitute an offer or invitation to purchase any
securities or a solicitation of an offer to buy any securities pursuant to the
Offer or otherwise. The full terms and conditions of the Offer (including
details of how the Offer may be accepted) are set out in the Offer Document and
the Form of Acceptance.


WestLB, which is regulated in the United Kingdom by The Financial Services
Authority, is acting exclusively for Raven Mount and no one else in connection
with the Offer and will not be responsible to anyone other than Raven Mount for
providing the protections afforded to its customers or for providing advice in
relation to the Offer.


The Offer will not be made, directly or indirectly, in or into, or by use of the
mails or by any means or instrumentality (including, without limitation,
telephonically or electronically) of interstate or foreign commerce of, or by
any facilities of a national state or other securities exchange of, the United
States, Canada, Australia or Japan or any other jurisdiction if to do so would
constitute a violation of the relevant laws of such jurisdiction. 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. Persons receiving this announcement (including without limitation
custodians, nominees and trustees) must not distribute or send it in, or into or
from the United States, Canada, Australia, or Japan.


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

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