Capital Reorganisation

RNS Number:9732Q
Marchpole Holdings PLC
16 October 2003

For immediate release

                                                                 16 October 2003

                  Marchpole Holdings PLC (the "Company")

                       Capital reduction approval

On 3 October 2003 Marchpole Holdings PLC announced that a hearing was due to be
held on 15 October 2003 at which the High Court would consider the proposed
reduction of share capital of the Company and of amounts standing to the
Company's share premium account which shareholders approved on 1 September 2003.

The hearing took place on 15 October and the High Court approved the proposals.

The reduction comprises a reduction of #22,696,368.11 by means of the
cancellation of the entire class of 2,269,636,811 deferred shares of 1p each and
the reduction of amounts standing to the Company's share premium account by
#14,070,000.  The number of ordinary shares in issue and the amount paid up on
each such share will not be affected by the proposed reduction.



Enquiries:

Justin Hampshire, Marchpole Holdings          020 7908 7777

Simon Edwards, Shore Capital                  020 7408 4090



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