RNS Number:8039S
Cedar Group PLC
20 October 2000

Cedar Group Plc ("Cedar" or the "Company")

Completion of Acquisition of Enterprise Solutions Group ("ESG")

On 21 September 2000 the Board of Cedar Group Plc announced a conditional
agreement with Renaissance Worldwide Inc. to acquire ESG for US$72 million
(equivalent, at the time of announcement, to #50.9 million) (the
"Acquisition").  At the same time, the Board announced a 1 for 6 rights issue
to raise approximately #65.8 million (the "Rights Issue").

In accordance with the timetable set out in the circular to shareholders in
connection with the Acquisition and Rights Issue, the Board of Cedar is now
pleased to announce that, following the approval of the Acquisition by Cedar
shareholders on 9 October 2000, completion of the Rights Issue and the
fulfilment of certain other conditions, the acquisition of ESG has now been
completed.

Accordingly, conversion of the 10,964,126 units of Redeemable Convertible
Unsecured Loan Stock in Cedar Funding Plc into an equivalent number of New
Ordinary Shares in Cedar Group Plc has taken place this morning and dealings
in such New Ordinary Shares will commence on the London Stock Exchange at 8.00
am today.


Enquiries:

Cedar Group Plc
Telephone: 01932 584 000

Mike Harrison, Managing Director
Mike Hosie, Group Finance Director
Matt O'Donnell, Investor Relations


Merrill Lynch Investment Banking
Telephone: 020 7628 1000

Richard Snow, Director


Merrill Lynch Corporate Equity Advisory
Telephone: 020 7772 1000

Stephen Pull, Managing Director
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