Further re Acquisition

RNS Number:7109U
Watermark Group PLC
28 January 2004

Watermark Group Plc

Further to its announcement on 23 January 2004, Watermark plc is pleased to
announce that the Prospectus relating to the proposed acquisition of Air Fayre
was posted to shareholders on 27 January 2004.  The final timetable relating to
the Open Offer is as follows:


Record Date for entitlement under the Open Offer                                          19 January 2004

Ex-entitlement date                                                             7 a.m. on 21 January 2004

Application Forms dispatched to Qualifying Shareholders                                   27 January 2004

Latest time and date for splitting of Application Forms                        3 p.m. on 13 February 2004

(to satisfy bona fide market claims only)

Latest time and date for acceptance and payment in full under the              3 p.m. on 17 February 2004
Open Offer

Latest time and date for receipt of Forms of Proxy                            11 a.m. on 17 February 2004

Extraordinary General Meeting                                                 11 a.m. on 19 February 2004

Dealings commerce in the New Ordinary Shares                                             23 February 2004

Relevant CREST accounts to be credited                                                   23 February 2004

Completion of the Acquisition                                                   by or on 26 February 2004

Date of dispatch of definitive share certificates for                                 by 27 February 2004
the New Ordinary Shares



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