Acquisition

NWF Group PLC
03 November 2003


Embargoed until: 07.00, Monday 3 November 2003



NWF GROUP ACQUIRES FURTHER FUEL BUSINESS


NWF Group plc, the diversified sales and distribution business, announces that
its subsidiary company, NWF Fuels Limited, has completed the acquisition of the
whole of the share capital of Fuel Oil Supply Co Limited, a private company
which trades as a fuel distribution business based in Nottingham and Birmingham.


The consideration for the acquisition is £870,000 in cash. A small further
consideration may be payable within two months based on any increase in net
assets over £320,000 at the completion date. Of the total consideration,
£100,000 in cash is deferred until June 2004.


The business acquired was founded in 1956 and has been built up by the same
family operating in parts of Nottinghamshire, Lincolnshire, Derbyshire,
Leicestershire and South Yorkshire. For the year ended 31 December 2002, Fuel
Oil Supply Co Limited had turnover of £15 million and at 31 December 2002 had
net assets of £374,012.


Graham Scott, Chief Executive NWF Group plc, commented: 'This acquisition
continues our stated growth strategy for our fuels business. It enables the
existing business to consolidate within its current trading area as well as
expanding geographic coverage towards Sheffield in the North and Birmingham to
the South. We will now have a strong presence in the East and West Midlands and
South Yorkshire from which we can continue to build our client base.'


For further information please visit www.nwf.co.uk or contact:

Graham Scott, Chief Executive               John West/Claire Melly
NWF Group plc                               Tavistock Communications
Tel: [phone]                          Tel: [phone]







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