Acquisition

RNS Number:8878F
Hacas Group PLC
07 January 2003

                                HACAS Group PLC
                    Acquisition of regeneration specialists

HACAS Group PLC ("HACAS") today announces the acquisition of Stratford
Development Partnership Limited ("SDPL") on 6 January 2003.

SDPL provides regeneration services on a consultancy basis mainly to London
local authorities as part of inner city urban renewal programmes. This
acquisition will expand the range of consultancy services provided by the group
to its existing client base and enable the development of a separate
regeneration brand through a new subsidiary of HACAS, SDP Regeneration Services
Limited.

SDPL currently has 58 employees and in its most recent financial year ending 31
March 2002 recorded turnover of #3,422,506 and a profit before tax of #464,590,
including investment income of #68,191. SDPL is a company limited by guarantee
which operates as a 'not for profit' organisation and only pays tax on
investment income and not on its operating activities. The tax charge for this
period, relating to the investment income, was #20,458, resulting in the
recording of profit after tax of #444,132. Its protected reserves will be
transferred to a successor charity called Stratford Development Partnership for
Regeneration.

The employment contacts of the existing employees of SDPL will be taken on by
SDP Regeneration Services Limited, which will trade as a normal profit making
subsidiary of HACAS. The assets and liabilities of SDPL will be transferred into
a new charitable organisation for re-investment into the local economy for the
benefits of its residents.

The consideration for the purchase of #2.8m has been satisfied in full in cash.
#2.2m is being paid to SDP Employees Limited acting as an employee benefit trust
set up for the benefit of the employees of SDP Regeneration Services Limited.
The remaining consideration of #0.6m will be paid to Stratford Development
Partnership for Regeneration. SDP Employees Limited intends to apply for
1,150,000 new ordinary shares in HACAS Group PLC at a price of 100p per share.

Stephen Melvyn Edward Jacobs OBE (age 53), Chief Executive of SDPL, will be
joining as a director of HACAS. He is also currently the non-executive chairman
of Newham Primary Healthcare Trust.

Mr Jacobs will be employed under an employment contract which is terminable by
either party giving not less than 6 calendar months' written notice. Mr Jacobs
will be paid a salary of #132,000 and will be eligible to participate in the
existing executive directors' bonus scheme.

There is no further information that is required to be disclosed under the AIM
rules.

HACAS has today applied for the 1,150,000 ordinary shares of 10 pence each to be
admitted to trading on the AIM, such admission expected to take place on 10
January 2003.

HACAS also announces that it intends to release its final results for the year
ended 30 September 2002 on 13 January 2003.


7 January 2003

END


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