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ITE Group PLC (ITE)

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Monday 13 March, 2000

ITE Group PLC

Joint Venture Agreement with b4b internet group

ITE Group PLC
13 March 2000


ITE Group Plc ('ITE') finalises Joint Venture in China

ITE Group Plc ('ITE'), the international exhibition and b4b
internet group, is pleased to announce an improved joint
venture agreement in China which supersedes the original ITE
Wanda joint venture agreement announced in June 1999.  ITE has
now entered into a 25 year joint venture agreement with the
state owned Dalian Xinghai Convention & Exhibition Centre
('DXCEC') and Dalian Wanda Group Co. Limited to take over and
expand the existing exhibitions run by DXCEC in Dalian, China.

A new company called ITE China Exhibitions Limited ('ITE
China') is to be formed with ITE owning  46%, DXCEC 30% and
Wanda 24%. DXCEC will be transferring the business and assets
of its exhibition organising division in exchange for its 30%
shareholding in ITE China. ITE and Wanda will be contributing
US$500,000 in cash as new share capital, being US$328,000 and
US$172,000 respectively.

The intention is for ITE to internationalise and increase the
exhibitors' attendance for the existing shows as well as
launching new shows using ITE's existing themes or those held
under licence. ITE China will have preferential space rental
terms with DXCEC as well as priority rights as the
international organiser of exhibitions in the City of Dalian
and priority rights over any new themes for international
exhibitions.

Included in the business being transferred by DXCEC are 26
exhibitions, which it either owns or has joint ventures with
co-organisers. These exhibitions currently utilise a total of
approximately 125,000 gross square metres annually, covering a
number of themes including building and construction, food,
motor, healthcare, travel and tourism and computer related
technology. Over 40 exhibitions are currently held at DXCEC
and negotiations are already advanced to form alliances with
some of the other third party organisers.

Lawrie Lewis said  'This improved joint venture in Dalian is
the ideal gateway to our expansion strategy into China and the
Far East. When China joins the WTO the Chinese market will
open up to a flood of international companies and the
exhibition market will grow dramatically. We are ideally
placed to take advantage of this through our acquisitional and
organic growth strategy.'

Dalian is situated on the southern tip of the Liaoning
Peninsular in Northern China and is the main centre for
transportation and international trade in North-Eastern China
and the Eastern region of Inner Mongolia. It has a population
of 5.2 million and the North-East region of China has a
population of 220 million Dalian represents the largest port
in Northern China, which is also the 4th largest shipbuilding
port in the world. Dalian has ambitions to be the 'Hong Kong
of North China' by 2010.

For further information, please contact:

ITE Group Plc
Lawrie Lewis        -    Chairman               0171 596 5000
Odette Jonkers      -    Group PR Manager       0171 596 5253

Buchanan Communications
Richard Oldworth/Isabel Petre                   0171 466 5000