Re Takover by Landbanksi

RNS Number:8625B
Bridgewell Group PLC
09 August 2007

9 August 2007

                              Bridgewell Group plc

                 Recommended takeover by Landsbanki Islands hf

                      Scheme of Arrangement now effective

Bridgewell is pleased to announce that its scheme of arrangement under section
425 of the Companies Act 1985 relating to its recommended takeover by Landsbanki
(the "Scheme") has become effective. The cancellation of the admission to
trading of Bridgewell Ordinary Shares will take place at 7am on Friday 10th
August 2007.

Under the Scheme former Bridgewell Ordinary Shareholders will receive:

           for each Scheme Share     12.5 pence in cash
                                     AND
                                     3.56888 New Landsbanki Shares

New Landsbanki Shares representing fractional entitlements (rounded down to the
nearest whole number) will be allotted and issued in the same way as other
Landsbanki Shares allotted and issued pursuant to the Scheme in respect of the
same holding of Scheme Shares.  Satisfaction of the consideration due to former
holders of Scheme Shares is expected to be effected by 23 August 2007.

Capitalised terms in this announcement have the meanings that they have in the
document sent to Bridgewell shareholders containing the Scheme dated 16 June
2007.

Press enquiries:
 Bridgewell
 Paul Manduca / Darren Ellis                                      020 7003 3000
 Maitland (PR adviser to Bridgewell)
 Neil Bennett                                                     020 7379 5151
 Brewin Dolphin Securities Limited (NOMAD)
 Ken Fleming                                                      0845 213 1120




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            The company news service from the London Stock Exchange
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