Issue of Equity

RNS Number:1777Y
Ultimate Finance Group PLC
30 April 2004


                            Ultimate Finance Group plc

                              Offer for Subscription


The board of Ultimate Finance Group plc ("UFG") is pleased to announce an Offer
for Subscription of up to 5,300,000 new UFG shares at a price of 15p each,
sponsored by its nominated adviser, Dawnay Day Corporate Finance Limited. The
broker to the issue is W.H. Ireland Limited.

Copies of the prospectus are being sent to existing shareholders today and are
available from Neville Registrars, Neville House, 18 Laurel Lane, Halesowen,
West Midlands B63 3DA. Tel: [phone].

Completed application forms, which are printed on the final pages of the
prospectus should be received by 10.00 a.m. on 21 May 2004.

The minimum amount of the issue is #230,000 or 1,533,333 new UFG shares.
Commitments to apply for 3,430,000 new UFG shares have been received. The
remaining 1,870,000 new UFG shares subject to the Offer for Subscription have
not been underwritten.

If the Offer for Subscription is over subscribed, the new UFG shares which are
subject to commitments (as described above) will be allotted in full and
priority will be given to existing shareholders on the register today who apply
using preferential application forms.

The Offer for Subscription will close at 10.00 a.m. on 21 May 2004 (unless
extended to a time and date not later than 5.00 p.m. on 28 May 2004). Dealings
on AIM in the new UFG shares are expected to commence on 27 May 2004.

The CREST accounts of applicants who apply for their new UFG shares to be held
in uncertificated form are expected to be credited on 27 May 2004. Certificates
for new UFG shares are expected to be posted to other applicants by 18 June
2004.

The net proceeds of the issue, if fully subscribed, are estimated to be #655,000
after the costs of the issue. Together with the proceeds of the recent placing,
UFG will have raised up to #1.18 million, which will be used to finance the
growth of its factoring and invoice discounting business.

Enquiries

Brian Sumner, Chief Executive                          Tel: [phone]
David Floyd, Dawnay, Day Corporate Finance             Tel: [phone]
Shane Dolan, Biddicks                                  Tel: [phone]


This announcement has been approved for the purposes of S21 of the Financial
Services & Markets Act 2000 by Dawnay, Day Corporate Finance Limited ("Dawnay
Day").

Dawnay Day and W.H. Ireland Limited, which are both authorised and regulated by
the Financial Services Authority, are acting for UFG in relation to the Offer
for Subscription and no-one else and will not be responsible to anyone other
than UFG for providing the protections afforded to customers of Dawnay Day or
W.H. Ireland Limited respectively or for providing advice in relation to the
Offer for Subscription.

The Offer for Subscription is not available to persons who are residents or
citizens of certain overseas jurisdictions.

The persons responsible for this announcement are the directors of UFG.





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

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