BWL Bridgewell

RNS Number:7583B
Bridgewell Group PLC
08 August 2007

8 August 2007

                              Bridgewell Group plc

                 Recommended takeover by Landsbanki Islands hf

                   Court confirmation of reduction of capital

Bridgewell is pleased to announce that the Court has confirmed the reduction of
capital which forms part of the scheme of arrangement under section 425 of the
Companies Act 1985 relating to its proposed recommended takeover by Landsbanki
(the "Scheme").

It is expected that the Scheme will become effective on Thursday 9 August 2007
and that the admission to trading on AIM of Bridgewell Ordinary Shares will be
cancelled at 7.00 a.m. (London time) on that date.

Following the Scheme becoming effective, Bridgewell Ordinary Shareholders will
receive:
           for each Scheme Share     12.5 pence in cash

                                     AND

                                     3.56888 New Landsbanki Shares

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.  Satisfaction of the consideration due to holders
of Scheme Shares is expected to be effected by 23 August 2007.

Capitalised terms in this announcement have the meanings that they have in the
document sent to Bridgewell shareholders containing the Scheme dated 16 June
2007.

Press enquiries:
Bridgewell
Paul Manduca / Darren Ellis                                       020 7003 3000

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

Brewin Dolphin Securities Limited (NOMAD)
Ken Fleming                                                       0845 213 1120




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