Change of Acccounting Reference Date (6689F)

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RNS Number : 6689F

MWB Group Holdings PLC

28 April 2011

MWB Group Holdings Plc

Second Interim Report and Change of Accounting Reference Date

MWB Group Holdings Plc (the "Group"), ultimate parent company of the leading boutique hotel group Malmaison and Hotel du Vin and MWB Business Exchange Plc, the AIM quoted serviced office provider, today announces it has changed its accounting reference date from 31 December to 30 June and it has issued second interim accounts for the 6 month period to 31 December 2010. The accounting reference date of all the Group's subsidiaries will also be changed from 31 December to 30 June. Accordingly, the 12 month accounting period which would have ended on 31 December 2010 has been extended to an 18 month accounting period ending on 30 June 2011. The Group intends to publish audited accounts for the 18 month period ending 30 June 2011 by 31 October 2011.

The reason for changing the accounting reference date is that, whilst the principal terms have been agreed for the extension of all the Group's banking facilities, which currently expire at the end of December 2011, the detailed facility documentation is still being finalised. The Board believes that the extension of the accounting reference date to 30 June 2011 will enable new or revised facility documentation to be entered into before the publication of our full financial statements in October 2011. The Board also believes shareholders will benefit from the additional clarity of the Group's financial position once these new facilities have been finalised. We would emphasise, however, that the Group continues to operate within the terms of its existing facilities.

In accordance with Listing Rule 9.6.21, and in order to keep shareholders informed of the Group's progress, the Group is today issuing a second interim report for the 6 month period to 31 December 2010.

Contacts

MWB Group Holdings Plc

020 7706 2121

Richard Balfour-Lynn, Chief Executive

Jagtar Singh, Finance Director

Panmure Gordon

020 7459 3600

Hugh Morgan

Adam Pollock

Baron Phillips Associates

020 7920 3161/07767 444193

Baron Phillips