Offer Talks Terminated

RNS Number:7518L
ACP Capital Limited
14 January 2008



NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN, INTO OR FROM ANY JURISDICTION
WHERE TO DO THE SAME WOULD CONSISTUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH
JURISDICTION


14 January 2008

                              ACP Capital ("ACP")



Indicative Offer for Davenham Group plc ("Davenham" or the "Company") withdrawn



On 2 November 2007 ACP confirmed that it had approached the Board of Davenham
with an indicative offer for the Company which had been rejected by the Board of
Davenham.



Davenham has not been willing to provide ACP with any information relating to
its business which is not already in the public domain. ACP believes that
funding and property market conditions have tightened and are likely to be
challenging to Davenham's business model.



ACP does not believe that, based solely on public information relating to
Davenham, it would be in the interests of its shareholders to continue with or
revise its indicative offer and has therefore withdrawn its indicative offer and
confirms that it has no current intention of making any offer for Davenham.



ACP continues to be a strategic investor in Davenham and intends to continue its
efforts to influence the strategic direction of Davenham in ways it believes
will enhance value and reduce risks for all Davenham shareholders.



At the close of business on 11 January 2008, ACP had an interest in
approximately 29.1 per cent. of the issued share capital of Davenham.



Important Notice



For the purposes of Rule 2.8 of The City Code on Takeovers and Mergers (the "
Code"), ACP or any person who acted in concert with it reserves the right to
make or participate in an offer or possible offer for Davenham and/or take any
action which would otherwise be restricted under Rule 2.8 of the Code within the
next six months if there is a material change in circumstances or if any of the
following events occur:



(i)         the agreement or recommendation of the Davenham Board is
forthcoming;

(ii)         if any announcement is made by or on behalf of Davenham that it is
in discussions which may or may not lead to an offer (or partial offer), or
formally or informally invites an offer (or partial offer) for Davenham;

(iii)        if any announcement is made by or on behalf of a third party
relating to an offer or possible offer (whether full or partial) for Davenham or
for a merger with Davenham;

(iv)        if any announcement is made by or on behalf of Davenham of a "
whitewash" proposal (as defined in the Code) or of any other proposal to
implement a scheme of arrangement, reverse takeover, demerger or any other
business combination with a third party; or

(v)         Davenham undertakes or announces an intention to undertake any
material recapitalisation or security issue (where material is defined as 10 per
cent. of the equity market capitalisation on the date of this announcement) or
any acquisition, merger, joint venture or other business combination
transaction, or any disposal, of or involving a material amount (where "material
amount" is as defined in Note 2 of Rule 21.1 of the Code).







Contact

Robert Bailhache                                      [phone]
Financial Dynamics

Nominated Adviser - Collins Stewart
Chris Wells, Stewart Wallace                          [phone]





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