Further re acquisition

RNS Number:1752M
Watermark Group PLC
11 June 2003

Strictly embargoed until: 07.30, 11 June 2003





                          Watermark Group plc



Watermark Group plc ("Watermark" or "the Company") announces that in accordance
with the terms of the sale and purchase agreement dated 26 July 2002 in respect
of the purchase of Update International Limited in Hong Kong, deferred
consideration of #148,082 is payable to the vendors for the year ended 31 March
2003.  This deferred consideration is to be satisfied by the issue of 145,894
new Watermark shares at 101.5p each.  These new shares rank pari passu in all
respects with the existing Watermark shares now in issue.  Applications to the
UKLA and to the London Stock Exchange have been made for these new Watermark
shares to be admitted to the Official List of the UK Listing Authority and to be
admitted to trading on the London Stock Exchange.  It is expected that dealings
in these new shares will commence on 13 June 2003.



For further information please visit www.watermarkplc.com or contact:

Crispin Quail, Finance Director               John West/Rosie Brown
Watermark Group plc                           Tavistock Communications
Tel: [phone]                             Tel: [phone]
e-mail: [e-mail]               e-mail: [e-mail]




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

FURURSWRORRNAAR