Investment in Bidtimes plc

RNS Number:3600R
Meriden Group PLC
12 February 2002


Date         12 February 2002

Contact      Russell Stevens, Chief Executive    0121 585 6655
             Meriden Group PLC                   (mobile)  07860 562 621
                                                 [e-mail]
             Trevor Phillips
             Holborn Public Relations            020 7929 5599
                                                 [e-mail]


                               Meriden Group Plc

                         Investment in Bidtimes plc

Meriden Group Plc has today acquired 976,000 ordinary shares of 5p each in
Bidtimes plc, representing 19.14 per cent. of the issued share capital of
Bidtimes, at a price of 17.06p per share. The total consideration is £166,506,
which will be settled in cash. Russell Stevens, Managing Director of both
Meriden and Bidtimes, holds 1.18 per cent. of the issued ordinary share capital
of Bidtimes and 86.21 per cent. of Meriden.

Bidtimes is a cash shell quoted on AIM, with £1,004,626 of cash and net current
assets of £900,363 at 31 August 2001. As envisaged on page 12 in its prospectus,
Meriden has been seeking to establish access to third party seed corn and
development capital for its clients. The directors of Meriden intend to enter
into discussions with the Board of Bidtimes with a view to Bidtimes becoming an
investment company directly affiliated to Meriden as a potential provider of
funds to Meriden clients.

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