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Oakhill Group PLC (PACC)

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Tuesday 05 December, 2000

Oakhill Group PLC


Oakhill Group PLC
5 December 2000

                Oakhill Group plc ('OakHill' or 'the Company')

OakHill announces the publication of a Circular to Shareholders in connection
             with the Proposed Disposal of the Packaging Division

                               ('the Disposal')

Further to the announcement on 28 September, 2000 of the conditional agreement
entered into by OakHill to sell its Packaging Division to Brodr. Sunde as, the
Board of OakHill is pleased to announce the publication of a document
comprising a class 1 circular in relation thereto ('the Circular').

The Packaging Division consists of a 100% shareholding in each of Plasboard
Plastics Limited, Foam Plus Limited and Lochaber Box Limited and a 50%
interest in Polypackaging Limited, of which the entire shareholding in
Plasboard Plastics Limited and Polypackaging Limited, and the assets and trade
of Foam Plus Limited and Lochaber Box Limited, are being disposed of, for a
consideration of Stg£10.475 million.

Stg£6.25 million of the consideration is payable on completion of the
Disposal, with the balance payable on the collection of outstanding debtors in
Foam Plus Limited and Lochaber Box Limited. The consideration is based on
expected aggregate net assets (excluding goodwill, net debt and group
balances) on completion of Stg£6.5 million and is subject to proportionate
adjustment on a Stg£1 for Stg£1 basis pursuant to any deviation from this
expected amount.

The net proceeds of the Disposal will be used to reduce debt thereby
facilitating the implementation of the strategy of the OakHill Group focused
on the Print Division. In particular the focus will be on the enhancement of
value added print services and the addition of digital capability, while
initiatives will also continue to be taken to reduce costs and improve
operational efficiencies.

The Circular, copies of which have been posted to Shareholders today, convenes
an Extraordinary General Meeting of the Company for 10.00 a.m. on 21 December,
2000 at which the resolution facilitating completion of the Disposal will be
considered and voted on.

For further information:

Donnacha Hurley

Chief Executive

Oakhill Group plc

+ 353 1 240 1400

James Morrissey

Fleishman-Hillard Saunders

+ 353 1 618 8444

5 December, 2000