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Maiden Group PLC (MDN)

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Tuesday 18 December, 2001

Maiden Group PLC


Maiden Group PLC
18 December 2001

18 December 2001


Maiden Group plc, the outdoor advertising company, announced today the
acquisition of Checkmain Ltd., which trades as Felgate Billposting. The
consideration will be satisfied by the issue of 300,000 shares to the vendors,
who will retain the stock for a minimum period of one year. The acquisition,
which is expected to be earnings enhancing in its first full year of
ownership, will guarantee that Maiden's key London estate enjoys a high
quality of customer service.

Felgate is the largest bill-posting company in the UK, with a significant
presence in the Greater London area, posting approximately 130,000 poster
sites every year for a variety of outdoor advertising media owners. The
company has been trading since 1985 and in the year ended 31 March 2001 had a
turnover of £3.5m. As at 30 November 2001, Felgate had net assets of some £1

Maiden is acquiring Felgate from its directors and Managing Director Chris
Felgate will be staying with the business. Dave Dron, Managing Director
(Operations) of the Maiden Group, will join the Felgate board as a
non-executive director. Felgate, which employs approximately 100 staff, will
operate on an arm's length basis and as an independent company to Maiden,
allowing it to continue to serve all of its current client base.

                                   - ENDS -


Ron Zeghibe, Chief Executive
Maiden Group plc                                 Tel: 020 7838 4000

Tania Parsons / Tim Spratt

Financial Dynamics                               Tel: 020 7831 3113