Result of Open Offer and EGM

Mulberry Group PLC
01 September 2003

MULBERRY GROUP PLC

1 SEPTEMBER 2003



Result of Open Offer and Extraordinary General Meeting

On 6 August 2003 the Company announced an underwritten open offer of 12,613,463
New Ordinary Shares of 5p each in the Company at a price of 28p per share to
raise approximately £3.5 million before expenses. The Open Offer closed at 3.00
p.m. on 29 August 2003. Valid applications were received in respect of 8,472,747
New Ordinary Shares representing 67 per cent. of the New Ordinary Shares the
subject of the Open Offer. The balance of the New Ordinary Shares will be taken
up by Challice Limited ('Challice') under the terms of the Open Offer Agreement.
Taking into account the undertaking not to subscribe from the Roger Saul
Family Interests this take-up represents 92.55 per cent. of the Open Offer
Shares.



The Company is pleased to announce that all the resolutions put to the
shareholders of the Company at the extraordinary general meeting held today,
details of which were set out in the circular to shareholders dated 7 August
2003, were duly passed.  The New Ordinary Shares have been issued and allotted
and will commence trading tomorrow, 2 September 2003.



These resolutions included special resolution 1, relating to the waiver by the
Panel on Takeovers and Mergers of any requirement for Challice to make a general
offer to shareholders of the Company under Rule 9 of the City Code on Takeovers
and Mergers, which would otherwise arise by reason of Challice taking up its
entitlement and its underwriting commitment under the Open Offer.



As a result of the issue to Challice of 6,571,428 New Ordinary Shares in the
Company pursuant to the Open Offer and 4,140,716 New Ordinary Shares pursuant to
the Underwriting, Challice is now interested in 25,712,144 New Ordinary Shares
in the Company which equates to 53 per cent. of the enlarged issued share
capital of the Company.



Unless the context otherwise requires, defined terms used in this announcement
shall have the meanings given to them in the circular to shareholders of the
Company dated 7 August 2003.



Enquiries


Godfrey Davis             Chairman & Chief Executive             01749 340 501

Christopher Hardie        Teather & Greenwood                    0207 426 9000
Dugald Carlean

Alex Glover               WMC Communications                     0207 591 3999



END


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