Acquisition

Montpellier Group PLC
22 January 2002



Montpellier Group plc ('Montpellier')



Montpellier announces that it has today reached agreement in principle with
Forvaltnings AB Browallia ('Browallia') its largest shareholder to acquire from
Browallia the following assets and investments.



•         The freehold 'Union Discount' building at 39 Cornhill, London  EC3.
This prominent building located in the heart of the City of London comprises
23,000 sq ft of office space on six floors.  Montpellier will continue to occupy
part of the property and will sub-let the balance.



•         12,775,000 shares in Jarvis Porter Group Plc ('Jarvis Porter')
representing 26.6 per cent. of the issued share capital of Jarvis Porter which
is quoted on AIM.



•         The business and assets of Union Investment Management Ltd ('UIM')
together with the right to use the Union Discount name.  UIM is a regulated
provider of corporate finance and investment management services.



It has been agreed that the total consideration will be £13.7 million of which
£7.2 million will be payable in cash on completion from Montpellier's own
resources and the balance will be satisfied by the issue of 17,461,834 new
ordinary shares in Montpellier at a price of 37p per share. The consideration
will be adjusted for the net asset value of UIM on completion.



The acquisition is conditional on Montpellier shareholders' approval under
section 320 of the Companies Act 1985 and on a waiver being grated by the Panel
on Takeovers and Mergers of the obligation that would otherwise arise on
Browallia to make a mandatory cash offer to acquire the shares in Montpellier
which it does not currently own.



Browallia currently owns 22,538,166 ordinary shares in Montpellier, amounting to
approximately 37 per cent. of Montpellier's issued share capital.  Following
approval by shareholders, Browallia will own a total of 40,000,000 ordinary
shares in Montpellier amounting to approximately 51.1 per cent. of Montpellier's
enlarged ordinary share capital.



A circular will be despatched to shareholders in due course.



Paul Sellars, Managing Director of Montpellier commented as follows:



'I am pleased to announce the further strengthening of the Montpellier Group
through these acquisitions.  The 'Union Discount' building at 39 Cornhill will
form an excellent base for the Group as well as generating investment income.



The Jarvis Porter shareholding will be added will be added to our current
investment portfolio and we will work with management and shareholders of Jarvis
Porter to increase shareholder value.



The UIM name has been established in the City since 1885 and its reputation and
expertise will be a significant move in the building up of Montpellier's
investment activities.  Its network of contacts in the area of corporate finance
and investments will enable Montpellier to continue the growth of its Investment
Division'.



Enquiries:

Paul Sellars, Managing Director, Montpellier Group plc - 020 7522 3200

John Wakefield, Rowan Dartington & Co. Limited - 0117 933 0020




                      This information is provided by RNS
            The company news service from the London Stock Exchange