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Kingsbridge Hldgs (PNC)

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Tuesday 01 July, 2003

Kingsbridge Hldgs

Completion of Disposal

Kingsbridge Holdings PLC
01 July 2003

KINGSBRIDGE HOLDINGS PLC
1 JULY 2003


           KINGSBRIDGE HOLDINGS PLC ('Kingsbridge' or the 'Company')

  Completion of Disposal of Kingsbridge Nottingham Limited ('KNL') and Kingweb
                              Limited ('Kingweb')


The board of Kingsbridge announces the completion yesterday of the disposal 
('Disposal') of KNL and Kingweb to Stoneygate 67 Limited ('Purchaser'), a 
company controlled by David McKee and Kevin McMenamin, announced on 23 May 2003.

The agreement ('Agreement') relating to the Disposal has been varied by the
parties thereto to the effect that in place of the Purchaser paying the cash sum
of £300,000 on completion, the Purchaser will (a) assume creditors to the value
of £275,000 which otherwise would have accrued to the Company and (b) become
entitled to debtors to the value of approximately £50,000 which otherwise would
have been for the benefit of the Company.  In all other material respects the
terms of the Agreement remain as announced on 23 May 2003.


END



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