Acquisition

RNS Number:1810I
Helphire Group PLC
03 March 2003




Date                    3 March 2003

Contacts                Michael Symons/Mark Jackson

                        Helphire Group plc      01225 321 000

                        Chris Steele

                        Holborn                 020 7929 5599
                                      [e-mail]



                               Helphire Group plc

              Purchase of New Head Office and Call Centre Capacity


Helphire Group plc has today exchanged contracts for the purchase of new offices
in the centre of Bath.  Following refurbishment the site will provide over
60,000 sq ft of office accommodation, and will house the Group head office and
call centre capacity.



The total acquisition and refurbishment costs for the building are #13 million,
of which #9 million is being financed by a mortgage from Allied Irish Bank, with
the remainder financed by existing cash resources.



The transaction is expected to complete at the end of March 2003, and will mean
that the Group will be able to accommodate all existing office based operations
in the Bath area, and to provide for the predicted expansion over the next few
years. The claims handling capacity of the Group will be more than doubled when
the new premises are fully operational later in the year.



Mark Jackson, Chief Executive of Helphire Group said: 'The new building creates
the opportunity to house all our major operational units under one roof which
will facilitate the maintenance of high service standards during this period of
rapid growth. It is a very exciting development.'



                                    - ENDS -




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

ACQEANDDESXDEEE