CLI Cls Holdings Plc

RNS No 539e
CITADEL HOLDINGS PLC
11 May 1999



                    CLS INCREASES ITS SHAREHOLDING IN CITADEL

The  board  of  CLS  Holdings plc ("CLS") announces  that  it  has  purchased
1,679,074 ordinary shares in Citadel Holdings plc ("Citadel") at a  price  of
124.5  pence  per  share (the "Purchase").  These shares were  acquired  from
Bengt Mortstedt, a non-executive director of CLS, who now no longer holds any
shares  in  Citadel.   CLS  now  owns 5,756,684 ordinary  shares  in  Citadel
representing 17.4 per cent. of its issued ordinary share capital.
As  disclosed in the prospectus dated 25 June 1997, CLS is acting in  concert
with  Sten Mortstedt and Bengt Mortstedt.  Immediately prior to and following
the Purchase, the aggregate shareholding of this concert party was 12,888,698
shares, representing approximately 38.9 per cent. of the issued share capital
of Citadel.    Upon the exercise by CLS of its entire holding of warrants  in
Citadel,  the  aggregate  shareholding of this  concert  party  would  remain
unchanged at 20,888,698 shares, representing approximately 50.8 per cent.  of
the  enlarged  issued share capital of Citadel, although  CLS's  shareholding
would  increase  to  13,756,684  shares or  approximately  33.5  percent.  of
Citadel's enlarged share capital.

As  stated  in the 1998 Chairman's Statement, CLS is keen to exploit  further
investment  opportunities outside the United Kingdom.  Citadel's  performance
has been encouraging and the French property market is continuing to recover.
CLS is therefore increasing its exposure to this market.


ENQUIRIES


CLS Holdings plc
Glyn Hirsch 
0171 582 7766


END

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