Offer Update

RNS Number:5023B
Moorfield Group PLC
2 April 2001


Not for release, publication or distribution in or into the United States,
Canada, Australia or Japan.

                          STESSA LIMITED ("STESSA")                           
                          RECOMMENDED CASH OFFER FOR                          
                      MOORFIELD GROUP PLC ("MOORFIELD")                       

Extension of Offer and level of acceptances

The board of Stessa announces that, by 3.00 p.m. on 2 April 2001 valid
acceptances of the Offer had been received in respect of a total of
155,176,804 Moorfield Shares, representing approximately 97.5 per cent. of the
issued ordinary share capital of Moorfield.  These acceptances include valid
acceptances in respect of 98,044,585 Moorfield Shares, representing
approximately 61.6 per cent. of the issued ordinary share capital of
Moorfield, in respect of which Stessa had received undertakings to accept the
Offer.

The Offer has already been declared unconditional in all respects and will
remain open for acceptance until further notice.

On 5 March 2001, Marc Gilbard and Graham Stanley who are both directors of
Stessa and Moorfield were interested in 810,427 and 785,095 Moorfield Shares
respectively. Marc Gilbard and Graham Stanley have each accepted the Offer in
respect of their entire holdings, representing approximately 1.0 per cent. of
the issued ordinary share capital of Moorfield.  

Save as disclosed above and as previously disclosed, no persons deemed to be
acting in concert with Stessa have acquired or agreed to acquire any Moorfield
Shares (or rights over such shares) since the commencement of the Offer Period
and no acceptances have been received from persons acting in concert with
Stessa.

Terms defined in the Offer Document have the same meanings when used herein
unless the context requires otherwise.

Enquiries                     
Stessa:                      Marc Gilbard       020 7399 1900       
Deloitte & Touche 
Corporate Finance:           Ian Jamieson       020 7303 6729 
                             Richard Collins    020 7303 5810       

The directors of Stessa and Stessa Holdings accept responsibility for the
information contained in this announcement.  To the best of the knowledge and
belief of the directors of Stessa and Stessa Holdings (who have taken all
reasonable care to ensure that such is the case), the information contained in
this announcement is in accordance with the facts and does not omit anything
likely to affect the import of such information.

Deloitte & Touche of Stonecutter Court, 1 Stonecutter Street, London EC4A 4TR,
is authorised by the Institute of Chartered Accountants in England and Wales
to carry on investment business.  Deloitte & Touche Corporate Finance, a
division of Deloitte & Touche, is acting for Stessa and no one else in
connection with the Offer and will not be responsible to anyone other than
Stessa for providing the protections afforded to clients of Deloitte & Touche
Corporate Finance nor for providing advice in relation to the Offer.

Deloitte & Touche Corporate Finance has approved this announcement as an
investment advertisement solely for the purpose of section 57 of the Financial
Services Act 1986.