Acquisitions

Spice PLC
07 April 2008

7 April 2008

                                   Spice plc



  Acquisitions of Melton Power Services, Utility Technology Limited,  and Line
                Design Solutions Limited and GIS Direct Limited



Spice plc ("Spice" or the "Group") is pleased to announce the completion of four
acquisitions, Melton Power Services ("Melton"), Utility Technology Limited ("
UTEC"), and Line Design Solutions Limited ("LDS") and GIS Direct Limited ("GIS
"), by its Electricity Services business. Details of these acquisitions are set
out below.



Melton Power Services

Melton has been acquired for an initial consideration of £2.5 million paid in
cash at completion. Additional contingent cash consideration of up to £2.0
million will become payable depending on the results of Melton for the years
ending 30 April 2009 and 30 April 2010 respectively. The total consideration
payable (including the initial consideration and the additional contingent cash
consideration) is capped at £4.5 million.


Melton installs and maintains private power networks for commercial and
industrial clients across the United Kingdom. As well as planned maintenance
services provided for under maintenance agreements, Melton carries out remedial
and asset replacement work on its customers' networks (such as transformer oil
changes and switchgear changes) and additional work to expand or reinforce those
networks.


Melton was established in 1990 and both of its founding partners (Steve Thompson
and Bernie Gackowski) will remain with the business following the acquisition.
Melton is based in Melton Mowbray, Leicestershire.



The accounts of Melton for the year ended 31 May 2007 show turnover of £1.2
million and adjusted operating profits of £0.5 million. Net assets at 31 May
2007 were £0.6 million.  The initial cash consideration of £2.5 million
represents a multiple of 5.0 times adjusted 2007 operating profits.



Utility Technology Limited

UTEC has been acquired for an initial consideration of £0.1 million paid in cash
at completion. Additional contingent cash consideration of up to £0.1 million
will become payable depending on the results of UTEC for the year ended 31 March
2008 and its working capital position at that date. The total consideration
payable (including the initial consideration, the additional contingent cash
consideration and the working capital adjustment) is capped at £0.2 million.


UTEC provides condition surveying and monitoring services on overhead
electricity circuits and assets to Distribution Network Operators including line
condition reporting and pole inspection activities. The business was founded in
1987 and is located in Cambridgeshire. The acquisition of UTEC provides Freedom
with cradle to grave capabilities for overhead line design and project works.


The accounts of UTEC for the year ended 31 March 2007 show turnover of £0.5
million and operating profits of £0.03 million. Net assets at 31 March 2007 were
£0.03 million. The initial cash consideration of £0.1 million represents a
multiple of 3 times 2007 operating profits.



Line Design Solutions Limited and GIS Direct Limited

LDS and GIS have been acquired from common owners for consideration of £0.1
million paid in cash at completion.


LDS and GIS both provide overhead line consultancy and technical services to
Distribution Network Operators throughout the UK. The business is located in
Flintshire.


The accounts of LDS and GIS for the year ended 31 March 2007 show turnover of
£0.1 million and operating profit of £0.02 million. Net assets at 31 March 2007
were £0.01 million. The initial cash consideration of £0.1 million represents a
multiple of 5 times 2007 operating profits.



Simon Rigby, Chief Executive Officer of Spice, said:

"The acquisitions of Melton, UTEC, LDS and GIS significantly strengthen our
Freedom business and reinforce our position as one of the leading players in the
UK electricity sector. Each of these businesses bring with them blue chip client
bases, which complement our own, and strengthen our capabilities in the area of
private network maintenance and refurbishment and also overheads lines.

We remain very well placed for growth within our Electricity business."



                                      Ends



For further information, please contact:



Spice plc                 Tel: [phone]
                      
Simon Rigby, Chief Executive Officer
Oliver Lightowlers, Group Finance Director
Andrew Catchpole, Strategy and Development Director



Financial Dynamics        Tel: [phone]
             
Billy Clegg
Caroline Stewart



KBC Peel Hunt             Tel: [phone]
               
Julian Blunt



NOTES TO EDITORS



Spice plc

Spice is a total utility infrastructure support services business. The Group's
operations were founded in 1996 and have their origins in the electricity
industry, though the range of activities has since been expanded into the water
sector, niche telecommunications services, statutory gas inspections, energy
management and facilities management. Spice's businesses have a common theme of
delivering and co-ordinating infrastructure services to customers, and the
technological element within the product mix has been built up significantly
over the course of the last three years.






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