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ITE Group PLC (ITE)

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Wednesday 07 February, 2001

ITE Group PLC

Acquisition

ITE Group PLC
7 February 2001


                                                                7 February 2001



ITE Group Plc ('ITE') acquires 51% of

Sodeks Fuarcilik A.S. ('Sodeks Fuarcilik')


ITE announces that it has entered into a conditional contract to acquire 51%
of Sodeks Fuarcilik, a Turkish exhibition organiser.  The initial cash
consideration will be US$1 million, with further amounts based on valuing
Sodeks Fuarcilik at five times the average pre-tax profits for the two years
to 31st December 2002. The consideration is capped at a maximum of US$5
million.



Sodeks Fuarcilik currently organises three exhibitions in Turkey. Sodeks is
the main exhibition and has, to date, been held four times. It is the premier
event in Istanbul with its themes covering air conditioning, heating,
refrigeration, plumbing, sanitary installations, and bathroom fittings. This
exhibition, which is biennial, covered 25,000 sq.ms last year. Other events to
be held in 2001 include Sodeks-Antalya and Datex-Konfor, which cover household
appliances and electronics respectively.



The directors of ITE believe that the current exhibitions of Sodeks Fuarcilik
fit into ITE's strategy of focusing on developing its established themes
through Brand Groups and that this acquisition will be incorporated into one
of its vertical brands, Building and Construction.  It is expected that
because of the current biennial nature of the exhibitions, the acquisitions
will be earnings neutral in ITE's financial year to 30th September 2001.


Lawrie Lewis, ITE's Chairman said:


'The acquisition of Sodeks not only adds this premier event to our Turkish
events but also brings further experienced management to our group. The
exhibition themes fit into our building and construction portfolio and we will
be looking to add further international sales to these events.'


For further information, please contact:


ITE Group plc                                                     020 7596 5000
Lawrie Lewis

Buchanan Communications                                           020 7466 5000
Richard Oldworth / Isabel Petre