RNS Number:8956O
fountains PLC
21 August 2003


                             

21 August 2003

                                    fountains

                                New contract award


fountains plc the environmental support services company quoted on the
Alternative Investment Market has been awarded a new US management contract
which is expected to contribute from 2004. This will increase the US management
base by some 20%.


The US subsidiary of fountains plc has been selected by GMO Renewable Resources,
LLC to provide management services for the 71,500 acre Grasse River Forest,
northern New York State, USA. GMO recently purchased the property from Hancock
Timber Resource Group.


The total acreage managed by the company is now approximately 425,000 acres in
the USA and 625,000 acres worldwide.     


Welcoming this new mandate, President, Bruce Jacobs said: "Hardwood forests are
increasingly recognised as an asset class providing diversity from more volatile
markets elsewhere. We are delighted to be assuming responsibility for managing
this further investment for GMO.


For more information contact:

Bruce Jacobs, President                   Barry Gamble, Chairman
Fountain Forestry Inc                     fountains plc
14 Leavitt Road, Suite 2, P O Box 25      P O Box 307, Malthouse Walk
Pittsfield, NH 03263, USA                 Banbury, Oxon OX16 8PU

Tel: (001) 603 435 8234                   Tel: 01295 750000
Fax: (001) 603 435 7274                   Fax: 01295 753253
email:                                    email: barry.gamble@fountainsplc.com
bruce.jacobs@fountainforestry.com




Note for editors: A wholly owned subsidiary of fountains plc, Fountain Forestry
Incorporated is a forest management and consulting firm providing services to
private landowners, investors and the forest products industry in New Hampshire,
Vermont, New York State, West Virginia and Tennessee. Services include forest
management, planning and implementation, forestry investment analysis, timber
valuation and marketing, forest property appraisal and sales. The company
specialises in the management of hardwoods, the principal species of which have
shown price appreciation of 300 - 400% since the mid 1980s.


                                   * * * * *


fountains - utility services and grounds maintenance, landscaping, forestry
services.

                              www.fountainsplc.com



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

END
CNTURUNROURWUAR