RNS Number:7174G
Hercules Property Services PLC
11 July 2001


                  HERCULES PROPERTY SERVICES PLC ACQUIRES 
                   WINKWORTH'S RESIDENTIAL AUCTION HOUSE 


Hercules Property Services PLC ("Hercules"), the property management,
insurance and consultancy group, announces it has signed a definitive
agreement to acquire Mainguild Limited ("Mainguild"), the franchised
residential auction house of Winkworth, a leading estate agency with more than
40 offices across the UK, for a maximum consideration of #500,000.

The acquisition is another step for the Group as it continues to build on its
impressive record of growth.  The acquisition of this residential
auctioneering business is in line with Hercules' strategy to provide a
comprehensive service to both the residential and commercial property markets.
 

Under the terms of the agreement, the consideration comprises an initial
element of #300,000, which will be satisfied as to #200,000 in cash and
#100,000 through the issue of 14,347 ordinary shares of 5p each ("New Ordinary
Shares").  In addition, there is a deferred element of up to #200,000, which
is dependent upon certain performance criteria. 

Application has been made to the UK listing authority and to the London Stock
Exchange for the admission to (i) the Official List and (ii) trading on the
London Stock Exchange's market for listed securities of the New Ordinary
Shares ("Admission").  It is expected that Admission and commencement of
dealings in the New Ordinary Shares will take place on 12 July 2001.

Mainguild was established in 1991 and provides residential auctioneering to
private individuals across the UK. In the year to 30 June 2000, it achieved
turnover and profit before tax of approximately #1,100,000 and #145,000
respectively.  

Larry Lipman, Chairman of Hercules said:

"This transaction is an important step for us as we strengthen and broaden our
auction business.  Combined with Harman Healy, our successful commercial
auction and property management business, Mainguild adds a residential
offering to our existing auction business. 

"As Winkworth's residential auction house, Mainguild has a strong brand and is
a leader in the residential auction market. We are confident that the combined
commercial and residential business will generate significant opportunities in
the market. "

Robin Wilson, Managing Director of Mainguild said:

"We look forward to joining Hercules and moving forward to build on our
success in the residential auction market.  This transaction will enable us to
leverage off a highly successful property services group.  I look forward to
working with the Hercules team."


For further information:

Paul Davis              Hercules Property Services PLC                        
Finance Director        020 8202 7276

Kate O'Sullivan /       GCI Financial Group                           
Caroline Massey         020 7398 0800



Notes to editors:

Hercules Property Services PLC (HPS.L) is a leading property insurance,
management and consultancy group.  It provides a comprehensive range of
specialised services, including: insurance to the commercial and residential
property sectors; buying and selling properties; property management; and
advice on commercial developments. More information can be found on the
Internet at www.hercules-group.co.uk.
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