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Maclellan Group (MLG)

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Tuesday 19 June, 2001

Maclellan Group

Disposal

Maclellan Group PLC
19 June 2001

19 June 2001




                    MacLellan Group plc announces sale of

        Jordan Engineering UK Limited and Jordan Fabrications Limited

and securing of 3 year £2.5 million per annum new contract with Standard Life




MacLellan Group plc, ('MacLellan'), the supplier of integrated facilities
management services, has exchanged contracts to sell the entire issued share
capital of Jordan Engineering UK Limited and Jordan Fabrications Limited to
Booth Industries Group PLC ('Booth') for a consideration expected to be in the
region of £3.875 million. In addition, Booth has assumed £1 million of short
term debt which is expected to be repaid to MacLellan shortly after completion
which is scheduled to occur on 9 July 2001. Booth is a UK based engineering
company which is listed on the Official List.


The consideration is to be satisfied by the issue of 2,670,721 new ordinary
shares in Booth together with £1.6 million of convertible loan stock bearing a
6% coupon and approximately £1.3 million of variable interest rate bearing
Loan Stock; the final amount of the Loan Stock is subject to any adjustments
arising from the agreement of completion accounts and carries an interest rate
0.5 per cent above base rate in year 1 rising to 4.5 per cent above base rate
in year 5. In addition, MacLellan retains ownership of the freehold site at
Yate which is occupied by the Jordan businesses; Booth have agreed to sign a
15 year lease with an initial rent of £125,000 per annum.


MacLellan's Integrated Services Division has also reinforced its growing
reputation as a provider of facilities management services in the retail
sector by securing a three year, £2.5 million per annum contract with Standard
Life Investments for three of its UK retail centres based in Brighton,
Wimbledon and Bayswater.


Commenting on these announcements John Foley, Chief Executive of MacLellan,
said:


'We have earlier this year announced results for the period to 31 December
2000 which show strong underlying organic growth in our Integrated Services
Division and also announced the securing of the largest contract in our
history - namely the £100 million plus STEPS contract with Mapeley. Today's
news is pleasing because we have reached an agreement with Booth which
represents a good value for the two Jordan businesses and enables us to focus
on our core activities. We are determined to continue to build MacLellan into
a large, highly respected, provider of integrated facilities management
services both through organic growth and by the addition of selective earnings
enhancing acquisitions'.


Contacts:

John Foley
MacLellan Group plc
01905 744400

David Currie
Investec Henderson Crosthwaite
0207 597 5000