Offer Update

GPG (UK) Holdings PLC
11 May 2004


For immediate release

Not for release, publication or distribution in whole or in part in or into the
                   United States, Canada, Japan or Australia

                                                                     11 May 2004

                             GPG (UK) Holdings plc

                    Partial Cash Offer for De Vere Group Plc

                                  Offer Update

As at 3.00 p.m. on 10 May 2004, being the first closing date of the Partial
Offer:

-          GPG had received valid acceptances of the Partial Offer in respect of
150,903 De Vere Shares, representing approximately 0.13 per cent. of De Vere's
current issued ordinary share capital; and

-          Including all of the valid acceptances of the Partial Offer set out
above, De Vere shareholders holding 12,228,143 De Vere Shares, representing
approximately 10.69 per cent. of De Vere's current issued ordinary share capital
(and 11.87 per cent. of the voting rights not held by GPG), had approved the
Partial Offer for the purpose of Rule 36.5 of the City Code.

Prior to the commencement of the Offer Period, the GPG Group held 11,446,406 De
Vere Shares, representing approximately 10.0 per cent. of De Vere's current
issued ordinary share capital. In addition, GPG had in place contracts for
differences which have no fixed expiry dates and which gave the GPG Group a
short position in respect of 222,737 De Vere Shares, representing approximately
0.19 per cent. of De Vere's current issued ordinary share capital.

Save as disclosed herein, immediately prior to the commencement of the Offer
Period, neither GPG, nor any person acting in concert with GPG, held any De Vere
Shares (or rights over such shares) and since the commencement of the Offer
Period neither GPG, nor any person acting in concert with GPG, has acquired or
agreed to acquire any De Vere Shares (or rights over such shares).

The Partial Offer has been extended until 3.00 p.m. on 28 May 2004. De Vere
shareholders who wish to accept or approve the Partial Offer but who have not
yet done so should return their completed Form of Acceptance (and supporting
documents) in accordance with the procedures set out in the Offer Document.
Additional Forms of Acceptance may be obtained by contacting Computershare
Investor Services PLC at PO Box 859, The Pavilions, Bridgwater Road, Bristol
BS99 1XZ (telephone: [phone]).

Blake Nixon, Chairman of GPG, commented:
'We are pleased with the support for our Partial Offer proposals shown at first
closing by independent shareholders. We shall shortly be writing to shareholders
setting out the reasons why we continue to believe strongly that a sale of De
Vere Hotels Division will maximise value for all De Vere shareholders, and to
highlight our concerns with the potential financial obligations associated with
the purchase of Premier Lodge.'

Enquiries:
GPG (UK) Holdings plc
Blake Nixon, Chairman 020 7484 3370

Weber Shandwick Square Mile 020 7067 0700
Kevin Smith / Josh Royston

The directors of GPG accept responsibility for the information contained in this
announcement. To the best of the knowledge and belief of the directors of GPG
(who have taken all reasonable care to ensure that such is the case), the
information contained in this announcement is in accordance with the facts and
does not omit anything likely to affect the import of such information.

Strand Partners Limited, which is regulated in the United Kingdom by the
Financial Services Authority, has approved the contents of this financial
promotion and its communication by GPG for the purposes of Section 21 of the
Financial Services and Markets Act 2000.

Strand Partners Limited is acting for GPG and no-one else in connection with the
Partial Offer and will not be responsible to anyone other than GPG for providing
the protections afforded to clients of Strand Partners Limited nor for giving
advice in relation to the Partial Offer.

De Vere shareholders should be aware that their entitlement to participate in
the Partial Offer depends on their being entered on the register of members of
De Vere at the Record Date. The Record Date could be any date between now and 27
May 2004 or, if the Partial Offer were to be extended beyond 28 May 2004, any
date up to 17 June 2004 (or such later date as may be agreed with the Panel)
depending on the number of acceptances received and the speed at which they are
received. Notwithstanding this, if a De Vere shareholder sells or purchases De
Vere Shares prior to the Record Date, they are requested to consult their
stockbroker, bank or other agent through whom the sale or purchase is effected
and refer to the instructions relating to Qualifying Purchases set out in
paragraph 10(h) of the letter from Strand Partners contained in the Offer
Document as the purchaser may have an entitlement to participate in the Partial
Offer.

In this announcement 'Offer Document' means the document dated 19 April 2004
setting out the terms of the Partial Offer. Unless the context otherwise
requires, terms used in this announcement shall have the same meanings given to
them in the Offer Document.



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