SIR Secure Income Reit Plc

RNS Number:2895U
Sirius Financial Solutions PLC
10 April 2002

Sirius Financial Solutions plc

Acquisition of Media Maker Limited

On 20 July 1999, Sirius Financial Solutions plc ("Sirius" and "the Company")
(previously Policy Master Group plc) announced the acquisition of Media Maker
Limited ("Media Maker") for a maximum consideration of £3.4 million based on the
prevailing market price at completion.  This was subsequently increased to £4.5
million following the rise in the share price in the period from completion to
the first earn out payment.

Consideration of £515,000 was paid at completion, with the balance payable over
the period to 31 December 2001 dependent on trading performance.  The earn out
for the first trading period from the date of acquisition to 31 December 1999
was linked to the trading performance of Media Maker in that period.  This
liability was satisfied by the allotment on 25 January 2000 of 421,053 ordinary
shares in the Company at the prevailing share price at completion of 237.5p per
share. Further consideration of £950,000 was payable in respect of the profit
for the year ended 31 December 2000 and was satisfied by the issue of 304,000
shares at the then market price of 312.5p.

The final element of the earn out consideration amounting to £950,000 and
determined by reference to the profits of Media Maker for the year to 31
December 2001 is now due for payment.  It has been agreed by the Company and the
vendors that a proportion of the final earnout consideration payable to one
vendor will be satisfied in cash.  Accordingly, Sirius announces that 898,649
ordinary shares in the Company have been issued to the vendors of Media Maker
and a payment of £118,750 has been made in cash in satisfaction of the final
earnout liability.  Application has been made for the new ordinary shares to be
admitted to Official List of the UK Listing Authority and to London Stock
Exchange plc for their admission to reading.  It is expected that dealings in
the new ordinary shares will commence on 16 April 2002.


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