ARP Ashcourt Rowan

RNS Number:6984G
AMCO Corporation PLC
10 July 2001

AMCO CORPORATION PLC ("Amco " or "the Company")

RELATED PARTY TRANSACTION

The Company announces that its wholly-owned subsidiary Amco Properties
Invesments plc ("API") has today entered into an agreement to acquire 50 per
cent of the entire issued share capital of Checkhire Limited ("Checkhire") for
#750,000 in cash from Mr Stephen Best who is also a director of Checkhire. The
remaining 50 per cent of the issued share capital of Checkhire is held by T
Holdings Limited which is a wholly-owned subsidiary of Tolent plc ("Tolent").

Checkhire is a non-trading company set up to hold a single asset; that asset
being an option to purchase development land at Swillington, West Yorkshire
(the "Option"). The Option has been valued at #1.5 million following an arms
length commercial negotiation.

Following completion of the acquisition of the Option, Mr Best will cease to
be a director and shareholder of Checkhire nor will he be a director or
shareholder of any company within the Amco or Tolent groups of companies.

The directors of Amco believe that the subsequent planned development of the
Swillington site will contribute to Amco's profits in the year ended 31
December 2002.

The directors of Amco consider, having consulted with its nominated adviser,
that the terms of the transaction are fair and reasonable insofar as the
shareholders in Amco are concerned.

ENDS

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