Take up of Rights Issue

Teather & Greenwood Holdings PLC
18 March 2003

18 March 2003



NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES OF
AMERICA, DENMARK, CANADA, JAPAN, AUSTRALIA, SOUTH AFRICA, MALTA, LATVIA, FRANCE,
SWITZERLAND, NEW ZEALAND OR THE REPUBLIC OF IRELAND.



TEATHER & GREENWOOD HOLDINGS PLC



TAKE UP OF RIGHTS ISSUE



Teather & Greenwood Holdings plc ('Teather & Greenwood') announces that it has
received valid acceptances in respect of 7,647,010 new Teather & Greenwood
shares, representing approximately 26.82 per cent. of the total number of new
Teather & Greenwood shares offered to shareholders, pursuant to the 1 for 1
Rights Issue announced by Teather & Greenwood on 4 February 2003 ('Rights Issue
').  A total of 28,517,249 new Teather & Greenwood shares were offered to
shareholders in the Rights Issue, which closed on Monday 17 March at 10.30 am.



The sub-underwriters have subscribed for the balance of the new Teather &
Greenwood shares for which valid acceptances were not received, being 20,870,239
new Teather & Greenwood shares.



The Rights Issue was underwritten by Bridgewell Limited.  In view of the size of
the Rights Issue the Directors of Teather & Greenwood did not consider it would
have been of any economic benefit to Teather & Greenwood to require a
competitive tender for the sub-underwriting of the Rights Issue.



New Teather & Greenwood shares are being credited to CREST accounts today.
Definitive share certificates in certificated form will be dispatched by 25
March 2003.





Enquiries


Teather & Greenwood Holdings plc                                                            020 7426 9000
Ken Ford/Nick Stagg

Bridgewell Limited                                                                          020 7003 3000
Ben Money-Coutts



This announcement is not for publication or distribution or release, directly or
indirectly, in the United States of America, Canada, Japan, Australia, South
Africa, Malta, Latvia, France, Switzerland, New Zealand or the Republic of
Ireland. This announcement does not constitute or form any part of any offer to
sell, issue or to acquire any securities of Teather & Greenwood in the United
States of America, Denmark, Canada, Japan, Australia, South Africa, Malta,
Latvia, France, Switzerland, New Zealand, or the Republic of Ireland or in any
other jurisdiction. The new Teather & Greenwood shares are not being registered
under the US Securities Act of 1933, as amended (the 'Securities Act') and they
may not be offered or sold in the United States (as such term is defined in
Regulation S under the Securities Act) at any time except pursuant to the terms
of an applicable exemption under the Securities Act and applicable securities
laws of the states of the United States.



Bridgewell Limited and Smith & Williamson Corporate Finance Limited are acting
for Teather & Greenwood, and no one else, in connection with the Rights Issue
and will not be responsible to any other person for providing the protections
afforded to their respective clients or for providing advice in relation to the
proposed Rights Issue.



END


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