BWL Bridgewell

RNS Number:0800B
Bridgewell Group PLC
30 July 2007


The following replaces the "re Takeover by Landsbanki" announcement released at
07.00am under RNS number 0735B.

3.6888 New Landsbanki Shares has been replaced with 3.56888 New Landsbanki
Shares.

The full amended release appears below:

30 July 2007
                              Bridgewell Group plc
                 Recommended takeover by Landsbanki Islands hf
Consideration for each Scheme Share is 12.5p in cash and 3.56888 New Landsbanki
                                     Shares

On 17 May 2007 the boards of Bridgewell and Landsbanki announced the terms of a
recommended takeover of Bridgewell by Landsbanki 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 a circular containing the
Scheme to its shareholders (the "Scheme Document"). On 10 July 2007 the
necessary resolutions approving the Scheme were passed at a Court Meeting of
Bridgewell Ordinary Shareholders and at a Bridgewell EGM.
If the Scheme becomes effective, Bridgewell Ordinary Shareholders will receive:

for each Scheme Share      12.5 pence in cash

                     AND

                           3.56888 New Landsbanki Shares

The number of New Landsbanki Shares due for each Scheme Share stated above has
been calculated on the basis of (i) the ISK39.40 closing price for a Landsbanki
Share on 27 July 2007 and (ii) the fixed official ISK124.99/#1.00 mid rate for
that date published by the Central Bank of Iceland. New Landsbanki Shares
representing fractional entitlements (rounded down to the nearest whole number)
will be allotted and issued in the same way as other Landsbanki Shares allotted
and issued pursuant to the Scheme in respect of the same holding of Scheme
Shares.

The Court Hearing of Bridgewell's petition to sanction the Scheme is expected to
take place later today. Landsbanki has confirmed to Bridgewell that it has
waived all relevant conditions relating to the Scheme in paragraph 2 of Part 3
of the Scheme Document. The date on which the Scheme is expected to become
effective is 9 August 2007.

Press enquiries:
Landsbanki
Sigurjon Th. Arnason / Halldor J Kristjansson                    + 354 410 4015

Teather & Greenwood (financial adviser and broker to Landsbanki)
Nick Stagg                                                       020 7426 9000

Financial Dynamics (PR adviser to Landsbanki)
Andrew Walton                                                    020 7269 7204

Bridgewell
Paul Manduca / John Craven                                       020 7003 3000

N M Rothschild & Sons Limited (financial adviser to Bridgewell)
Jonathan Eddis                                                   020 7280 5000

Maitland (PR adviser to Bridgewell)
Neil Bennett                                                     020 7379 5151

Capitalised terms in this announcement have the meanings that they have in the
Scheme Document.

Teather & Greenwood, which is authorised and regulated in the United Kingdom by
the Financial Services Authority, is acting for Landsbanki and no one else in
relation to the matters referred to in this announcement and will not be
responsible to anyone other than Landsbanki for providing the protections
afforded to clients of Teather & Greenwood nor for providing advice in relation
to any such matter.

Rothschild, which is authorised and regulated in the United Kingdom by the
Financial Services Authority, is acting for Bridgewell and for no one else in
relation to the matters referred to in this announcement 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 any
such matter.



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

END
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