Result of Equity Issue

RNS Number:1191N
PGI Group PLC
03 June 2005


NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN OR INTO THE UNITED STATES   OF AMERICA, CANADA, THE REPUBLIC OF
IRELAND, THE REPUBLIC OF SOUTH AFRICA, AUSTRALIA OR JAPAN

                         PGI Group plc ('the Company')

                            Result of Rights Issue

PGI Group plc announces that the 43 for 100 Rights Issue of 36,026,999 New
Ordinary Shares at 25 pence per share, as  detailed in the prospectus published
by the Company on 18 April 2005, closed at 11:00 a.m. on 2 June 2005.

Valid acceptances have been received in respect of 34,584,562 New Ordinary
Shares from Qualifying Shareholders, which  represents an aggregate take-up of
95.9962 per cent.

The New Ordinary Shares will begin trading at 8.00 a.m. on 3 June 2005.

Pursuant to the Underwriting Agreement dated 14 April 2005 between the Company
and Rovida Holdings Limited, Panmure  Gordon & Co will, acting as agent for the
Company, endeavour to procure one or more subscribers for the remaining 
1,442,437 New Ordinary Shares, for which valid acceptances were not received.

Definitions used in the prospectus dated 18 April 2005 shall have the same
meanings when used in this announcement,  unless the context requires otherwise.
For further information please contact:

PGI Group plc                                              020 7246 0207
Richard Clothier, Group Chief Executive

Panmure Gordon & Co                                        020 7459 3600
Andrew Godber
Andrew Potts





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