Partial Disposal of Holding

Evolution Group PLC
19 May 2004


19 May 2004



              The Evolution Group Plc ("Evolution" or the "Group")
     Disposal of part of the Group's holding in IP2IPO Group Plc ("IP2IPO")

The Group announces the disposal of 9,000,000 shares in IP2IPO, its associated
undertaking, for gross proceeds of £40,500,000 in cash, before any related
expenses of sale.

IP2IPO's business is involved in the formation of long-term university
partnerships in which it receives a significant interest in the intellectual
property created by its university partners.  IP2IPO successfully listed on AIM
in October 2003.  Since then it has continued to make progress in the
development of spin out companies from its ongoing university partnerships.

This further realisation enables Evolution to continue the planned separation of
the IP2IPO business away from the Group and enables the creation of a more
balanced share register for IP2IPO, as this placing has been made with further
institutional investors.  This transaction realises significant value for
Evolution's shareholders and allows the Group to continue to focus on the
development of its core investment banking and stock broking businesses.

In reducing the Group's interest in IP2IPO from 40.61% to 18.46%, this
transaction is likely to result in IP2IPO becoming treated as an investment by
Evolution rather than as an associated undertaking.  The effect of the
transaction is the disposal of £13,433,000 of net assets previously consolidated
in the Group accounts as at 31 December 2003. Losses of £494,000 were attributed
to the Group from IP2IPO in the year ended 31 December 2003.  The Group will
retain the cash proceeds of this transaction.




                                     -Ends-



For further information, please contact:


The Evolution Group Plc                              020 7071 4300
Alex Snow, Chief Executive Officer
Graeme Dell, Finance Director


Hogarth Partnership Limited                          020 7357 9477
Andrew Jaques
Georgina Briscoe





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