Acquisition

M.P. EVANS GROUP PLC ("MPE" OR THE "GROUP") Purchase of Australian beef-cattle and arable property MPE is pleased to announce that contracts have been exchanged with regard to the Group's acquisition of a cattle and arable-farming property, "Baquabah", for a total consideration of A$5.0 million (approximately £2.0 million). The contract is due to be completed on 8 December 2006 and the acquisition will be financed by a combination of cash and loan finance. Baquabah comprises 4,097 hectares and is contiguous both with the Group's existing beef-cattle growing properties, Woodlands and Flinton, and with Springmount, which the Group has also recently contracted to acquire, as announced on 22 September 2006. All these properties are located some 120 kilometres north west of Goondiwindi in Southern Queensland. Once the acquisitions of both Baquabah and Springmount have been completed, the enlarged aggregation (comprising all four properties) will extend to 31,090 hectares. By 2008, assuming normal seasonal rainfall, it is expected that some 19,000 head of cattle will be able to be turned off each year from the enlarged aggregation. The increased area, which will be managed by the present manager of Woodlands and Flinton, Michael Wright, will permit additional economies of scale to be achieved. The enlarged aggregation has recently been valued at A$33.5 million (approximately £13.4 million) and will be one of the largest of its kind in Southern Queensland. By order of the board J F Elliott Company secretary 13 November 2006 Enquiries: M. P. Evans Group PLC 01892 516333 Peter Hadsley-Chaplin Joint Managing Director Philip Fletcher Joint Managing Director Hudson Sandler 020 7796 4133 Andrew Hayes James White
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