Offer Update

Montpellier Group PLC
10 July 2003

                     Montpellier Group Plc ('Montpellier')

         Recommended Increased Cash Offer by Tobull Limited ('Tobull') 
                         for Bullough plc ('Bullough')



                             Compulsory acquisition



Tobull, a wholly owned subsidiary of Montpellier, announces that as at 3.00 pm
on 9 July 2003, Tobull had received valid acceptances of the Increased Offer in
respect of 33,607,633 Bullough Shares representing approximately 63.20 per cent
of Bullough's issued share capital and over 90 per cent. of the Bullough Shares
in respect of which the Increased Offer was made.



The Increased Offer was declared unconditional in all respects on 18 June 2003.



Tobull has given notice to exercise its rights pursuant to sections 428 to 430F
of the Companies Act to acquire compulsorily any Bullough Shares which it does
not already hold and in respect of which valid acceptances of the Increased
Offer have not been received.



The Increased Offer will remain open for acceptance until further notice.



Unless the context otherwise requires, words and expressions defined in the
formal offer document, dated 13 May 2003, shall have the same meanings in this
announcement.



10 July 2003



Enquiries:


Ralph Baber, Chairman of Tobull Limited                         0207 522 3211
Claes Piehl, Executive Chairman of Bullough plc                 0207 522 3206
John Wakefield, Director of Rowan Dartington & Co. Limited      0117 933 0020





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