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Tuesday 18 April, 2000


Acquisition, etc

18 April 2000

                         ITE Group Plc

Acquisition of Computer Technology and Food Exhibitions in
Moscow and Trading Update

ITE Group Plc, ('ITE'), the international exhibitions
specialist, is pleased to announce the further expansion of its
operations in Moscow, Russia through the acquisition of 9
exhibitions as listed below:

     Comtek                   Computer and InformationTechnology
     CEM                      Appliances & home products
     Photo World              Photography
     TRBE                     Telecommunications, radio & broadcasting
     Internetcom              Internet/Intranet & Networking
     World Food Moscow        Food products
     World Food Technology    Food processing & packaging
     Catering & Restaurant    Food catering, restaurants
     and hospitality
     MODA                     Fashion, accessories and textiles

On 17 April 2000, International Trade & Exhibitions (ITE)
Worldwide BV, a wholly owned subsidiary of ITE, entered into an
agreement to acquire the rights, including the registered trade
marks, databases and other intellectual property rights
pertaining to the above list of exhibitions, from its owner,
Comtek Expositions Inc ('the Acquisition').  The total
consideration will be based on a weighted average multiple of
1.78 times the turnover  for the next edition of the
exhibitions. An initial consideration payment in cash of
US$12.324 million has been made and further adjustment payments
will follow on completion of the next edition of each show. The
maximum consideration is capped at US$17.5 million.

In 1999 the turnover of the exhibitions was US$7.95 million and
utilised a net square meterage of  over 30,000 held in
Moscow. The Comtek, CEM and Photo World exhibitions are being
held on 17 April 2000 with an estimated net square meterage of
over 12,000 and an estimated turnover of US$3.64 million.
The computer technology and food shows are the premier events
of their type in Moscow and have been held annually for over
ten years. Profit before tax for the exhibitions is estimated
to be US$ 1.9 million.

Sentiment and business opportunities are returning to Russia,
especially with the appointment of a new
President, and a positive sales impact has already been seen on
the company's portfolio of Russian events being held in the
current year.

Lawrie Lewis, Chairman of ITE, said:
'We are delighted to have acquired the premier computer
technology and food shows in Moscow which are complementary to
our existing portfolio of events. We recently announced a major
expansion of our E-business portfolio and the acquisition of
the Comtek brand will speed up our expansion plans for internet
and e-commerce in Russia and the CIS where there is tremendous
growth opportunities. Whilst our business has diversified
geographically over the last year Russia is still an important
market for us and these acquisitions demonstrate our ongoing
commitment to growing market share in key trade sectors.'

The company is also pleased to announce that trading for the
first six months of the current financial year is fully up to
the best expectations and the directors are confident that this
positive position will be sustained for the full financial

Company summary:
ITE Group Plc is one of the leading international exhibition
and conference organisers in Russia, CIS, Central and Eastern
Europe and the Transcaucasus, organising over 325 international
trade events in 25 countries each year.

For further information, please contact:

ITE Group Plc
Lawrie Lewis        -    Chairman              020 7596 5000
Steve Monnington    -    Group Chief Executive
Odette Jonkers      -    PR Manager            020 7596 5253

Buchanan Communications
Richard Oldworth/Isabel Petre                  020 7466 5000


a d v e r t i s e m e n t