CMO Cmo Group Plc

RNS Number:5291N
Comino Group PLC
7 July 2000


               COMINO GROUP PLC: ACQUISITION OF REBUS LG LIMITED
                     EXTENDS CUSTOMER AND PRODUCT BASE IN
                           LARGER LOCAL AUTHORITIES

Comino Group plc ("Comino"), a leading provider of software solutions for  the
social  housing, occupational pensions and local government sectors, announces
that it has acquired 82% of Rebus LG Limited from the Rebus Group. The company
has  now  changed its name and will trade as Saffron Computer Services Limited
("Saffron"), based in Croydon. The remaining 18% of the shares are held by the
existing management of Saffron.

The  consideration comprises an initial cash payment of #1.77m with a  further
performance  related  payment of up to #0.9m in cash by  Comino  dependent  on
successful  collection of outstanding debtors. The net asset value of  Saffron
at  completion is #1.76m. Audited accounts to 31 March 1999 showed a  turnover
of #3.3m and a profit before tax of #256,000.

Saffron  has  50  Local  Authority customers and  has  a  particularly  strong
representation   within  the  London  metropolitan  authorities.  The  company
supplies  Housing and Revenue & Benefits software and services  plus  a  small
number of related FM contracts.

Performance based arrangements exist with the management of Saffron for Comino
to purchase management's shares. The maximum consideration on full performance
is  #3.75m  payable  in  cash and/or Comino shares at  Comino's  option.   The
maximum number of Comino shares that can be issued is 875,000.

Commenting,  Garth Selvey, Chief Executive of Comino Group said:  "Comino  and
Saffron  have  rarely  met in competition because of Saffron's  focus  on  the
larger  metropolitan authorities. The acquisition increases the group's  Local
Authority customer base and provides further opportunities for Comino's highly
successful   Revenue  &  Benefits  product.  Saffron's  FM  model  complements
developments  within  Comino and the recently announced  Comino  Montal  joint
venture will provide ASP facilities for the whole of the expanded group."


For further information contact:
Garth Selvey, Chief Executive, Comino Group plc   01628 - 525433

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