RNS Number:9924P
PM Group PLC
22 September 2003


For Release                          7:00am                  22nd September 2003

                           PM GROUP PLC ("PM Group"):
                            ACQUISITIONS IN EUROPE

               Acquisitions of MD Techniek BV ("MDT Holland") and
                        MD Technik GmbH ("MDT Germany")


PM Group, a leader in the design, manufacture and service of on board vehicle
weighing systems for the bulk haulage and waste management industries, announces
that it has completed the acquisitions of 100 per cent. of the issued share
capital of MDT Holland and MDT Germany (together "the MDT companies"). The total
maximum consideration payable for the MDT companies will be Euro825,000
(approximately #575,000), to be satisfied half in cash and half by the issue of
up to 177,470 PM Group shares at 162p per share, being the average closing
middle market price for the five business days immediately prior to the
announcement of this acquisition. Stockbroker and nominated adviser to PM Group
is Williams de Broe Plc.


The consideration payable is subject to confirmation of the MDT companies' net
asset position as at 22 September 2003. To the extent that net assets are less
than Euro150,000 the consideration will be reduced Euro for Euro. The vendors have
agreed to retain the new PM Group shares for a period of 3 years. In addition,
the vendors will continue working within PM Group.


The MDT companies, based in Holland and Germany, supply and fit weighing
equipment. In the year ended 31 December 2002, the MDT companies reported a
total pre-tax profit of Euro30,000 on turnover of Euro783,000, with net assets of
Euro58,000.


Application will be made to London Stock Exchange plc for the new PM Group
ordinary shares to be admitted to trading on the Alternative Investment Market
following the issue of shares to the vendor on confirmation of the net asset
position of the MDT companies.


Commenting, Geoff Mountain, Chief Executive, said: "These acquisitions are in
line with our stated strategy to increase penetration into mainland Europe, in
the bulk haulage and waste management industries, both organically and by
acquisition.


As stated in our preliminary results, announced on 17 September 2003, continued
acquisitions will further strengthen our growing position in our core markets.
Our strategic objectives are to continue to increase and improve our product
range and manufacturing facilities and achieve overall growth. Excluding
acquisitions, organic growth in the past financial year ended 30th June 2003 was
47%."


The two acquisitions announced today are the third and fourth by PM Group since
they went public on AIM, in May 2002. In February and March this year, PM Group
acquired 75% of Waste Collection Systems Belgium NV ("WCS Belgium") and Waste
Collection Systems BV ("WCS Holland") for #272,000 and #218,000 respectively. PM
Group will post its Annual Report and Financial Statements for the financial
year ended 30 June 2003 on Monday 22nd September to shareholders.

ENDS

For further information, please contact:

PM Group Plc                      Tel: 01274 771 177
Geoff Mountain, Chief Executive
David Hartley, Finance Director   Mobile: 07802 973 524

Binns & Co PR Ltd                 Tel: 020 7786 9600
Peter Binns/Sam Allen

Williams de Broe Plc              Tel: 0113 243 1619
Joanne Lake


ABOUT PM GROUP PLC

PM Group comprises five subsidiaries operating in the UK, France, Holland and
Belgium. The Group's shares were admitted to trading on AIM in May 2002.
Preliminary results were announced on 17 September 2003. Financial and corporate
highlights were as follows:


Financial highlights

  * Group turnover up 74% to #10.0m (2002: #5.8m)
  * Excluding acquisitions, organic turnover growth was 47%
  * Operating profit up 14% to #1.191m (2002: #1.049m)
  * Profit before tax up 15% to #1.178m (2002: #1.025m)
  * Basic earnings per share up 12% to 5.99p (2002: 5.34p)
  * Maiden final dividend of 1.6p per share
  * Dividends thereafter envisaged on an interim and final results basis.


Corporate highlights

  * Acquisitions of 75% of Waste Collection Systems businesses in Belgium and
    Holland
  * Euro5m order from IVVO in Belgium to supply bins, identification tags,
    weighing systems
  * IVVO contract provides a further reference point for future tenders and
    contracts
  * Environmental legislation continues to drive UK and European sales
  * Stated strategy to increase penetration into mainland Europe waste
    management sector continues
  * New larger premises in Bradford.


Regarding the future, Chief Executive, Geoff Mountain, said in his statement:

"I am extremely positive about the future. The waste management sector,
particularly in Ireland and continental Europe, has developed quicker than we
expected, with significant growth still to come. The UK market is emerging and
when the identification and weighing projects currently being trialled by local
authorities are concluded, I am confident that PM Group will be well placed to
take advantage of the opportunities presented to us. I expect growth in all
sectors of our business."








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