Offer Update

GPG (UK) Holdings PLC
18 June 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

                                                                    18 June 2004

                             GPG (UK) Holdings plc

                 Final Partial Cash Offer for De Vere Group Plc

                                  Offer Update

As at 1.00 p.m. on 18 June 2004 (being the final closing date of the Partial
Offer (as revised)):

-          De Vere shareholders holding 630,031 De Vere Shares, representing
approximately 0.55 per cent. of De Vere's current issued ordinary share capital
(and 0.61 per cent. of the voting rights not held by GPG), had elected to accept
the Final Partial Offer and approve it for the purpose of Rule 36.5 of the City
Code;

-          De Vere shareholders holding 757 De Vere Shares, representing
approximately 0.00 per cent. of De Vere's current issued ordinary share capital,
had elected to accept the Final Partial Offer but not approve it for the purpose
of Rule 36.5 of the City Code;

-          De Vere shareholders holding 11,804,456 De Vere Shares, representing
approximately 10.29 per cent. of De Vere's current issued ordinary share capital
(and 11.43 per cent. of the voting rights not held by GPG), had not accepted the
Final Partial Offer but elected to approve it for the purpose of Rule 36.5 of
the City Code; and

-          De Vere shareholders holding 1,423 De Vere Shares, representing
approximately 0.00 per cent. of De Vere's current issued ordinary share capital,
had returned valid Forms of Acceptance electing neither to accept the Final
Partial Offer nor approve it 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 Final Partial Offer was subject to valid acceptances being received in
respect of at least 28.5 million De Vere Shares by 1.00 p.m on 18 June 2004.
Therefore, as at 1.00 p.m. today, the acceptance condition of the Final Partial
Offer had not been satisfied and the Final Partial Offer has, accordingly,
lapsed. Forms of Acceptance, share certificates and other documents of title
received pursuant to the Partial Offers will be returned and appropriate
instructions will be given to CRESTCo in respect of the transfer of escrow
balances, in accordance with the terms of the Partial Offers.

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 is acting for GPG and no-one else in connection with the
Final 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 Final Partial Offer.

Unless the context otherwise requires, terms used in this announcement shall
have the same meanings given to them in the Original Offer Document, the
Increased Offer Document and the circular to De Vere shareholders dated 8 June
2004.



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