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ITE Group PLC (ITE)

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Tuesday 29 April, 2008

ITE Group PLC

Acquisition

ITE Group PLC
29 April 2008

29 April 2008



                                 ITE Group plc

                        Acquisition of Siberian Fair LLC


ITE Group plc, the emerging and developing markets exhibitions specialist, today
announces the acquisition of 100% of the issued share capital of Siberian Fair
LLC, an exhibitions business based in Siberia, for a total cash consideration of
US$12.1m.  The acquisition further strengthens ITE's core activities in the
growing markets of Russia and the CIS and is highly complementary to the sector
profile of the Group's exhibition portfolio.


The consideration is payable US$5.4m on completion, US$4.9m three months after
completion and US$1.8m 12 months after completion. Siberian Fair LLC is based in
Novosibirsk, Siberia and owns a comprehensive portfolio of 30 exhibitions
servicing business requirements of the Novosibirsk region. The largest
exhibitions are in Construction, Furniture & Interiors, Motor, Food Products &
Packaging and Agriculture. The business has around 160 employees and in 2007 it
generated revenue of approximately US$10m and profit before tax of approximately
US$3.5 million.  Gross assets of approximately US$1m are being acquired as part
of this transaction.  The business will be managed by ITE's Moscow office, with
operational continuity provided by Mr Tsoi, aged 42, the General Director of
Siberian Fair LLC since 2003, who will remain with the business.


Commenting, ITE acting Chief Executive, Russell Taylor said:


'This acquisition, which complements our current activities in Russia, is the
first major step in ITE's plans to expand its regional exhibition business in
Russia.  Novosibirsk is the commercial hub of Siberia and an increasing number
of our international customers have expressed an interest in exhibiting in this
and other regions. This, together with the plans to build new exhibition
facilities, provides a powerful stimulus for the future growth of our business
in this region.'



                                    - ends -



Enquiries:

Russell Taylor, Acting CEO / FD     ITE Group plc           020 7596 5000
Charlie Palmer / Helen Thomas       Financial Dynamics      020 7831 3113










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