CMO Cmo Group Plc

RNS Number:4178B
Comino PLC
25 November 1999

                                  COMINO PLC:
                 #3.85M DISPOSAL OF SUBSIDIARY COMPANY VIA MBO
                   AND APPOINTMENT OF NEW FINANCIAL ADVISER

The  board  of Comino plc ("Comino" or the "Group"), the provider of  computer
systems  for  occupational pensions, housing and local  authority  revenues  &
benefits,  has  today completed the sale of Prologic Computer Consultants  Ltd
("Prologic"),  a  wholly-owned subsidiary, to a company incorporated  for  the
purpose of acquiring Prologic, owned by Lloyds TSB Development Capital and the
senior management of Prologic, for a total consideration of #3.85m in cash.

Prior to the sale, Prologic also paid a dividend of #284,000 to Comino.  #3.7m
of  the  consideration will be paid on completion with a further unconditional
cash  payment  of  #150,000  to  be  paid on  the  first  anniversary  of  the
transaction.

Prologic provides computerised solutions to the fashion and clothing industry.
Its  audited results for the year ended 31 March 99 showed a profit before tax
of  #404,000 and net assets of #497,000. Prologic, contributed 14 per cent. of
the  operating  profit of the Comino Group for the year ended 31  March  1999.
Prologic is based in Berkhamsted, Hertfordshire.

Commenting on the disposal, Garth Selvey, Chief Executive of Comino said:

"Prologic  has contributed significantly to the growth of Comino  albeit  that
its  business has been regarded as non-core for some time. Its sale will allow
Comino  to  focus  entirely on growth within its 'Business to  Public'  model,
developing  and implementing information technology solutions,  and  providing
ongoing support for, Occupational Pensions, Social Housing and Local Authority
Revenue  Administration.  The proceeds of the sale  will  assist  the  Group's
expansion and acquisition strategy."

Appointment of Financial Adviser

The  Board  of Comino is also delighted to announce the appointment  of  Close
Brothers  Corporate  Finance Limited as the company's financial  adviser  with
immediate effect.  Williams de Broe will continue to act as broker to Comino.


For further information please contact:
Garth Selvey, Chief Executive                   Tel: 01628 525 433
Paul Clifford, Finance Director                 

END

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