RNS Number:2558T
East Surrey Holdings PLC
15 December 2003


PRESS ANNOUNCEMENT
15 December 2003
EAST SURREY HOLDINGS PLC ("EAST SURREY HOLDINGS" OR THE "COMPANY")
RESULT OF EGM

On 21 November 2003, East Surrey Holdings announced the proposed acquisition of
the 75.5 per cent. of Phoenix Natural Gas Limited that it did not already own
and a Placing and Open Offer by Hawkpoint Partners of 34,858,430 New Ordinary
Shares at 300 pence per share to raise approximately #97.6 million (net of
expenses).

At the Extraordinary General Meeting of East Surrey Holdings, which took place
earlier today, the Resolutions put to Shareholders relating to, inter alia, the
Acquisition and the Placing and Open Offer were duly passed.

The Placing and Open Offer remains conditional upon admission of the New
Ordinary Shares to the Official List and to trading on the London Stock
Exchange's market for listed securities becoming effective, which is expected to
occur on 17 December 2003. It is expected that Completion of the Acquisition
will occur later this week.

Certain terms used in this announcement are defined in the prospectus despatched
to Shareholders on 21 November 2003.

For further information contact:

East Surrey Holdings plc                                          01737 772000
Phil Holder, Managing Director
Nick Fisher, Finance Director

Phoenix Natural Gas Limited                                      028 9055 5500
Peter Dixon

Hawkpoint Partners Limited                                       020 7665 4500
Paul Baines
Graham Paton

Collins Stewart Limited                                          020 7523 8350
Stephen Roberts
Mark Connelly

City Profile                                                     020 7448 3244
Simon Courtenay

Web: www.eastsurreyholdings.com

The directors of East Surrey Holdings accept responsibility for the information
contained in this announcement. To the best of the knowledge and belief of the
directors of East Surrey Holdings (who have taken all reasonable care to ensure
that such is the case), the information contained in this announcement is in
accordance with the facts and does not omit anything likely to affect the import
of such information.

Hawkpoint Partners Limited, which is authorised and regulated in the United
Kingdom by the Financial Services Authority, is acting exclusively for East
Surrey Holdings and no one else in connection with the Acquisition and the
Placing and Open Offer and will not be responsible to anyone other than East
Surrey Holdings for providing the protections afforded to its customers or for
providing advice in relation to the contents of this announcement or any
transaction or arrangement referred to herein.

Collins Stewart Limited, which is authorised and regulated in the United Kingdom
by the Financial Services Authority, is acting exclusively for East Surrey
Holdings and no one else in connection with the Acquisition and the Placing and
Open Offer and will not be responsible to anyone other than East Surrey Holdings
for providing the protections afforded to its customers or for providing advice
in relation to the contents of this announcement or any transaction or
arrangement referred to herein.

The New Ordinary Shares to be issued in connection with the Placing and Open
Offer have not been nor will they be registered under the United States
Securities Act of 1933 (as amended) or under the securities laws of any state of
the United States, any possession or territory of Canada, Japan, Australia or
the Republic of Ireland.



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

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