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Ottakar's PLC (OKR)

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Thursday 08 May, 2003

Ottakar's PLC


Ottakar's PLC
08 May 2003

For Immediate Release                                            8 May 2003

                         OTTAKAR'S PLC ('the Company')

                        PLACING AND DIRECTOR'S DEALING

The Company is pleased to announce that it is today placing 995,980 new
ordinary shares ('New Shares') at a price of £2.30 per share.  The New Shares,
which rank pari passu with the Company's existing issued ordinary shares, are
being placed with institutional clients of the Company's broker, 
Teather & Greenwood Limited ('Teather & Greenwood').  The net proceeds of the 
placing will be used for working capital requirements and further development of
the business.

The Company also announces that James Heneage today sold, through Teather &
Greenwood, 250,000 ordinary shares at a price of £2.30 per share.  His total
holding following the sale is 2,140,835 ordinary shares, representing 10.1 per
cent of the issued share capital of the Company following the issue of the New
Shares referred to above.  James Heneage has undertaken that he will make no
further sales of ordinary shares for the next twelve months without the consent
of Teather & Greenwood.

Application will be made for the New Shares to be admitted to the UK Listing
Authority's Official List and to trading on the London Stock Exchange.  It is
expected that dealings in the New Shares will commence on 15 May 2003.

Philip Dunne, Chairman commented:

'Today's placing provides Ottakar's with £2.3 million net of expenses which will
reduce gearing and enable the company to continue to pursue its organic roll-out
strategy and to take advantage of other new store opportunities should they

For further information contact:

Ottakar's plc:
Edward Knighton                                      Tel:  07714 458 566

Buchanan Communications:
Charles Ryland / Nicola Cronk                        Tel:  020 7466 5000

Teather & Greenwood:
Jeff Keating / David Galan                           Tel:  020 7426 9000

                      This information is provided by RNS
            The company news service from the London Stock Exchange