RNS Number:5028H
Christie Group PLC
18 January 2005






                               Christie Group plc

                  completes acquisition of West London Estates

                 and names David Larkin as Chairman of Pinders



Christie Group plc announced that Pinders today completed the purchase of West
London Estates (WLE).

WLE is a Reading-based firm of Chartered Building Surveyors providing a range of
services to a cross section of corporate, private and public sector clients.
The company had net assets of #265,000 at 31 October 2004.

The addition of WLE to Pinders' existing team of Building Surveyors and Project
Managers will serve to accelerate the Company's growth by broadening its
national client base and increasing the opportunities to target larger and more
varied work.



Following renegotiation of the terms of third party financing referred to in the
2004 interim accounts, Group borrowings were reduced by a net #2.4 million with
a commensurate exceptional credit.  After the acquisition of WLE the Group's
bank borrowings will total approximately #2.5 million.





                                      ***



In further news Christie Group plc today also announced that Mr David J W Larkin
has accepted an invitation to become Chairman of its subsidiary, Pinders, the
UK's leading independent business appraisal company.



Mr Larkin, who will take up the part-time role with immediate effect, takes up
the newly created position following a distinguished 29-year career in property
with Jones Lang Wootton, now Jones Lang LaSalle, a global leader in the delivery
of real estate professional services.



His senior executive roles included International Director and Chairman of Jones
Lang LaSalle Insurance Services, Chairman of Asset Management business group,
and Member of Jones Lang Wootton Finance and Administration Committee, which
managed the firm's global business interests and the financial management of its
European operation.



He has been involved in many significant property transactions and developments,
including Canary Wharf and Victoria Plaza in London, and Exchange Square and
Pacific Place in Hong Kong.



Aged 56, he is a Fellow of the Royal Institution of Chartered Surveyors.  He
also serves as Chairman of the Investor's Committee for the Property Income
Trust for Charities.



"We are delighted that David will be taking up the chairman's role in Pinders,"
said Christie Group CEO David Rugg.  "His experience will be invaluable as we
expand Pinders' leadership position and realise its full potential."

                                      Ends

18 January 2005

Contact



Christie Group plc

Philip Gwyn (Chairman)

David Rugg (CEO)

Robert Zenker (Finance Director)

 all on +44 20 7227 0707



Brunswick Group LLP

Ash Spiegelberg

+44 20 7396 5319



Notes to Editors



Christie Group plc is a business services and software group with three business
divisions: Professional Business Services, Software Solutions; and Stock and
Inventory Services.  The three complementary businesses focus on the leisure,
retail and care markets.  Christie Group has 30 offices across Europe - located
in the UK as well as in Belgium, France, Germany, Italy and Spain, and 1 office
in Canada.

Pinders is a subsidiary of the Christie Group focused on valuations,
consultancy, building survey, project management and professional services for a
broad range of clients in the leisure, retail and care sectors.


                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

ACQEALFPFFLSEFE
Christie (LSE:CTG)
Historical Stock Chart
From May 2024 to Jun 2024 Click Here for more Christie Charts.
Christie (LSE:CTG)
Historical Stock Chart
From Jun 2023 to Jun 2024 Click Here for more Christie Charts.