RNS Number:8374Q
Absolute Capital Mgmt Holdings Ltd
07 February 2007


                                                                 
                  Absolute Capital Management Holdings Limited
                                    ("ACMH")

                Acquisition of Argo Capital Management Completed


Further to the announcement made on 18 January 2007, ACMH is pleased to announce
that following the approval of the UK FSA to the change of control of Argo
Capital Management Limited, it has obtained the approval of the Cyprus
Securities and Exchange Commission to the change in control of Argonaftis
Capital Management (Overseas) Limited and has completed the acquisition of Argo
Capital Management Limited, Argonaftis Capital Management (Overseas) Limited and
Argo Capital Management (Asia) Pte Limited ("collectively Argo Capital
Management") pursuant to the terms of the purchase agreements referred to in the
previous announcement.

Application has been made for the admission to AIM of the 12.3 million new
ordinary shares issued in consideration for the purchase of Argo Capital
Management. The consideration shares rank pari passu in all respects with ACMH's
existing ordinary shares.

ACMH now has 66,925,000 ordinary shares in issue. As a result of the issuance of
the consideration shares, ACMH has the following additional shareholders holding
on an individual basis in excess of 3% of ACMH's issued ordinary share capital:

     Andreas Rialas                -      3,075,000 ordinary shares (4.6%)
     Farkland Ventures Inc.        -      3,075,000 ordinary shares (4.6%)
     Kyriakos Rialas               -      6,150,000 ordinary shares (9.2%)



Enquiries:
 Solomon Hare Corporate Finance     Nick Reeve                  0117 933 3344
                                    David Abbott
 Cardew Group                       Tim Robertson               020 7930 0777
                                    Shan Shan Willenbrock




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

END
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