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Caldwell Inv. (PRS)

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Thursday 28 October, 1999

Caldwell Inv.

Results of Rights Issue

28 October 1999

Results of Rights Issue

The Board of Caldwell Investments plc announces that valid acceptances in
relation to the Rights Issue have been received in respect of 2,194,353 new
ordinary shares representing 79.58 per cent of the 2,757,500 new ordinary
shares offered by way of rights at 25p per share. All Directors have taken up
their full entitlements under the Rights Issue.

The balance of the Rights Issue, being 563,147 new ordinary shares, has today
been placed by Charles Stanley & Company Limited with certain subscribers at a
price of 37.5p per share, a premium of 12.5p per share over the Rights Issue

The premium over the Rights Issue price (after deducting the expenses of
procuring subscribers) will be paid pro-rata to provisional allottees
originally entitled thereto, except that amounts less than £3.00 will not be
so paid but will be retained for the benefit of the Company. 


S Wootliff       Tel: 01132 350 632

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