Acquisition

RNS Number:4156B
Europasia Education PLC
30 July 2004



Acquisition of UK Language School


Europasia Education Plc ("EPE" or "the Company"), the AIM-listed education
group, is pleased to announce that on 29th July it completed the acquisition of
100% of Bournemouth Educational Centre Ltd ("BEC"), a profitable English
language school based in Bournemouth, UK, trading under the name English 2000.


The consideration for the acquisition was satisfied as follows: #598,000 in cash
payable on completion; #100,000 via the issue of a 12 month loan note, secured
on the shares in BEC, which bears interest at a rate of 250 basis points above
the UK base rate; and the balance of #100,000 to be payable in cash following
the publication of BEC's annual report and accounts for the year ended 31 March
2005 ("2005 Accounts"), dependent upon BEC reporting profits before tax of at
least #150,000.  In the event that the 2005 Accounts show profits before tax
less than #150,000, payment will be reduced proportionally.


For the year ended 31 March 2004, BEC generated pre tax profits of #314,289,
with net assets of #267,430.  On completion, BEC had cash in bank of #475,861,
with net assets of #305,000.


The acquisition is in line with the Company's strategy of developing a portfolio
of education businesses in Europe and Asia.  Anita Wild, current owner of the
school, will stay on as a director of BEC to continue to develop the business,
with emphasis on marketing and business development.


EPE Chief Executive James Holmes said:  "The school is a good fit with
Management International, one of our existing investments, much of whose
business can be switched to Bournemouth, which will increase margins.


"The current student base of the school is primarily European, which is
benefiting from an increasing flow of students from the new countries admitted
to the European Union in May 2004.  There is also the opportunity for our
Chinese and Pakistani operations to send students to BEC.



"This one acquisition brings together all the elements of our strategy and
strengthens and expands our core business.  The Board is confident it will add
significantly to our efforts to produce increasing value for our shareholders."


For further information:

James Holmes, Chief Executive             020 7332 2218

EuropAsia Education                       www.europasiaeducation.com



Paul Quade                                020 7334 0243

CityRoad Communications


About English 2000

Based in Bournemouth, English 2000 offers a wide range of language and work
study programs.  Courses are both part and full time, with specialist courses
such as the Diploma in Healthcare and Nursing also available.  For additional
information, see www.english2000.com


                      This information is provided by RNS
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