49IP Landsbanki.6.25

RNS Number:9752Z
Bridgewell Group PLC
10 July 2007


                             Bridgewell Group plc

        Recommended takeover for cash and shares of Bridgewell Group plc
                            by Landsbanki Islands hf

                 Results of Court Meeting and Bridgewell EGM

On 17 May 2007, the boards of Bridgewell Group plc ("Bridgewell") and Landsbanki
Islands hf ("Landsbanki") announced that they had reached agreement on the terms
of a recommended cash and share takeover of Bridgewell by Landsbanki (the
"Acquisition") to be effected by way of a scheme of arrangement under section
425 of the Companies Act 1985 (the "Scheme"). On 16 June 2007 Bridgewell
despatched to Bridgewell shareholders a circular (the "Scheme Document")
containing the terms of the acquisition.

Bridgewell and Landsbanki are pleased to announce that, at the Court Meeting
held earlier today, the Scheme was approved by the requisite majority.
Subsequently, at the Bridgewell EGM, the special resolution required to
implement the Scheme was also passed by the requisite majority.

Completion of the Acquisition remains subject to the satisfaction or, if
permitted, waiver of the conditions to the Acquisition set out in the Scheme
Document including, inter alia, the sanction of the Scheme by the Court. The
Court Hearings of Bridgewell's petitions to sanction the Scheme and to confirm
the reduction of Bridgewell's share capital are still expected to take place on
30 July 2007 and 8 August 2007, respectively, as set out in the Scheme Document.

The Effective Date of the Scheme is expected to be 9 August 2007, as set out in
the Scheme Document. If this position changes, a further announcement will be
made.

Press enquiries:

Bridgewell Group plc                         Telephone: +44(0)20 7003 3000
Paul Manduca
John Craven

N M Rothschild & Sons Limited 
(financial adviser to Bridgewell)            Telephone: +44(0)20 7280 5000
Jonathan Eddis

Maitland                                     Telephone: +44(0)20 7379 5151
Neil Bennett
Charlotte Walsh

Capitalised terms have the same meanings set out in the Scheme Document.

Rothschild, which is authorised and regulated by the Financial Services
Authority in the United Kingdom, is acting for Bridgewell and for no one else in
relation to the Acquisition and will not be responsible to anyone other than
Bridgewell for providing the protections afforded to clients of Rothschild nor
for providing advice in relation to the proposed transaction.



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

END
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