Acquisition

RNS Number:2671S
International Greetings PLC
20 November 2003

                                                              20th November 2003

         Acquisition Takes International Greetings into Mainland Europe

International Greetings PLC ("IG"), the leading designer and manufacturer of
private label greetings products and licensed stationery, today announced the
acquisition of Hoomark Gift-Wrap Partners BV ("Hoomark").

Hoomark produces gift wrap for the European market from a production facility
located in North East Holland. IG believes that the acquisition will enable it
to gain a significant foothold in the continental European market through the
ability to offer its other product categories to Hoomark customers.

IG has acquired the whole of the issued share capital of Hoomark for an initial
consideration of Euro1.5million. Further consideration of between Euro600,000 and
Euro1million will be payable to the vendors of Hoomark dependent on Hoomark's
results for the 15 month period to 31st March 2004. In addition, the Hoomark
vendors may become entitled to further deferred consideration equivalent to 50%
of the post tax profits of Hoomark for each of the three financial years up to
and including the year ended 31st March 2007, subject to an overall maximum cap
on such payments of Euro15million.

Hoomark Gift-Wrap Partners was set up in December 2002, when the assets of the
business were acquired from the liquidator of Hoomark BV. Hoomark has yet to
produce any audited accounts. The net assets of Hoomark on the date of
acquisition are estimated to amount to approximately Euro1m. Due to the seasonality
of the business, we anticipate that Hoomark will make a small loss for the
period from the date of acquisition to 31st March 2004, but will make a positive
contribution to Group profits in future years.

Nick Fisher, Joint Chief Executive Officer commented, "We have been aware of the
growth potential in Europe for a number of years, and we have now found the
perfect acquisition which will allow us to develop in this important market. Its
location in North East Holland is an excellent base for effective distribution
throughout Europe."

"This is a significant development for International Greetings, and is
consistent with our acquisition strategy."

International Greetings' results for the six months to 30th September 2003 will
be announced on 8th December 2003.


International Greetings plc        01707 630 630
Nick Fisher, Joint Chief Executive

Edelman Financial                  020 7344 1200
Michael Henman/James Horsman

Arbuthnot Securities
Graeme Cull                        020 7002 4631


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

END
ACQBLBFTMMMBBIJ