AXN Alexon Grp.

RNS Number:0883O
Alexon Group PLC
18 December 2006


FOR IMMEDIATE RELEASE                                        18 December 2006


                  ALEXON GROUP PLC ("Alexon" or the "Company")
                                        
          Disposal of Dolcis Limited ("Dolcis") to Hamsard 3032 Limited
                                        
                                        
  The Board of Alexon is pleased to announce the disposal of Dolcis to Hamsard
3032 Limited, for #2.7 million in cash, on completion (the "Transaction").
Hamsard 3032 Limited is backed by a consortium of investors led by John
Kinnaird, a retail entrepreneur. Funds advised by Epic Private Equity have
provided senior debt facilities for this transaction and have taken a minority
stake in Dolcis.


Under the terms of the Transaction, Hamsard 3032 Limited will also pay Alexon
certain amounts, as they fall due, in respect of profits gained upon the sale of
certain of Dolcis' properties to third parties. These amounts are expected, in
aggregate, to amount to approximately #0.3 million.


Dolcis is a UK and European retailer of women's and men's footwear and
accessories. As at 29 July 2006, Dolcis traded from 67 UK shops, 132 UK
concessions and 6 European concessions. In the year ended 28 January 2006,
Dolcis made an operating loss of #0.7 million and had gross assets of #18.1
million, net assets of #6.7m. In the six months to 29 July 2006, Dolcis made an
operating loss of #2.4 million and had gross assets of #20.3m, net assets of
#5.1m.


Dolcis sales and margins have continued to decline in the second half of the
current year. This transaction allows management time and investment to be
focused on the remaining businesses, and the Board believes that this
transaction is in the best interests of the Alexon Group.

Contacts:
Buchanan Communications          Tel: 020 7466 5000
Richard Darby
Nicola Cronk

Cardew Group                     Tel: 020 7930 0777
Richard Spiegelberg
Eden Mendel




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

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