ACN Advance Capital

RNS No 1071q
ACORN GROUP PLC
17th April 1998


Further to the previous announcements by Acorn Group plc concerning the
intention of its 38% associate ARM Holdings Plc ("ARM") to seek a listing on
the London Stock Exchange and a quotation for American Depositary Shares on
the NASDAQ National Market, ARM today announced the pricing of its initial
public offering at #5.75 per share.  

The total offering comprises 11,730,000 shares of which 5,865,000 shares are
being offered to investors in the United States and Canada and 5,865,000 are
being offered outside the United States and Canada.  The amount of global
equity offering is approximately #67.4 million, including a primary issue of
approximately #33.8 million and a sale of existing shares to raise
approximately #33.6 million for certain of ARM's shareholders, including #14.4
million for Acorn.  Based on the offering price, ARM's capitalisation will be
approximately #264 million.  The offering may be increased by up to 1,759,500
shares if the Underwriters' overallotment option is exercised in full.

Dealings on a conditional basis are expected to commence at 2.30pm today and
it is expected that unconditional dealings will commence on 24 April 1998. 

Acorn notes that due to strong investor demand the offering price has been
fixed at the upper limit of the indicative initial filing price range, which
itself has been increased twice during the book building process.  Acorn will
retain over 12 million shares in ARM post flotation, representing more than
25% of the issued share capital.

As previously announced, Acorn intend to use the proceeds to reduce borrowings
and to support the development of its core businesses, which are focused on
providing design consultancy services and specialist software components and
systems for the fast-growing digital interactive TV and information appliances
markets.

For further information:

David Lee, Acorn Group plc - 01223 725001
Stan Boland, Acorn Group plc - 01223 725003

Rollo Head, Shandwick - 0171 329 0096 

END

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