BID Bidcorp

RNS Number:3053R
Bidcorp PLC
12 February 2002



                                  BIDCORP PLC

                         (Formerly Jacobs Holdings Plc)


Trading Update and Appointment of Chief Executive


Bidcorp Plc (the "Group") is re-evaluating the carrying values of its various
assets and liabilities and it is expected that this will result in a material
decline in its previously reported Net Asset Value.

Trading has been below expectation and the Group expects to make a loss for the
year ended 31 December 2001. Remedial action has been taken and the Board is
confident that operational improvements can be expected in the short term.

Rodger Graham, previously a non-executive director, has, with immediate effect,
assumed the role as Chief Executive of the Group.



12 February 2002




ENQUIRIES:

Bidcorp Plc                                                 Tel: (020) 7493 4733
Brian Joffe, Chairman
Rodger Graham, Chief Executive

College Hill                                                Tel: (020) 7457 2020
Gareth David                                 email: gareth.david@collegehill.com
Lisa Pearson                                 email: lisa.pearson@collegehill.com





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