Acquisition

Acquisition 

    LONDON--(BUSINESS WIRE)--Sept. 8, 2003--

Acquisition - completion details

Next Fifteen Communications Group plc, a holding company for some of
the world's leading public relations consultancies, today announces
that it has now completed the acquisition of the business and certain
assets of Applied Communications Group's public relations division.
The operations to be acquired relate to the public relations
activities of Applied's San Francisco and Amsterdam offices, which
primarily serve clients in the technology sector. The maximum
consideration is $1.615m payable in cash over three years, $65k is
payable on completion, $700k is payable in equal instalments over the
first two years and the remaining $850k is subject to performance
criteria; the acquired net liabilities have an estimated value of
$50k. It is intended that the acquired San Francisco business will
become part of Next Fifteen subsidiary Bite Communications Group, and
the acquired Amsterdam business will be merged with another Next
Fifteen subsidiary, Text 100.

There is no historical profit/loss information available relating only
to the part of the Applied business being acquired, although it is
estimated that it is currently operating between a small loss and
breakeven, The expected turnover of the acquired businesses is $5.5m
in the first twelve months of ownership; and it is expected that once
the businesses are merged into current Next Fifteen operations they
will find a much stronger platform from which to grow in the future.

Under the agreement, Applied Communications Group will retain its
Analytics division, accounts receivable, cash balances and certain
intangible assets such as its brand name.


Contacts:

David Dewhurst - Finance Director, Next Fifteen Communications Group Plc.
Telephone [phone].

Tim Dyson - Chief Executive Officer, Next Fifteen Communications Group plc
Telephone [phone]

Chris Steele - Holborn Public Relations
Telephone  [phone].

   Short Name: Next Fifteen Comm
   Category Code: ACQ
   Sequence Number: 00009429
   Time of Receipt (offset from UTC): 20030908T095223+0100