HPS Hercules Props.

RNS No 2170c
HERCULES PROPERTY SERVICES PLC
28th August 1997

  
                HERCULES PROPERTY SERVICES PLC
      RECOMMENDED OFFER FOR DAVID GLASS ASSOCIATES PLC 
           ACCEPTANCE LEVEL: UNCONDITIONAL IN ALL 
                  RESPECTS SAVE FOR ADMISSION
  
  It was announced by Hercules Property Services PLC
  ("Hercules" or the "Company") on 13 August 1997 that by the
  first closing time and date of the Offer by Hercules for
  David Glass Associates plc ("David Glass") of 3.00 pm on 12
  August 1997, valid acceptances of the Offer had been
  received in respect of 3,276,139 David Glass Shares,
  representing 60.49 per cent. of David Glass' issued share
  capital.
  
  Prior to the offer period which commenced on 9 July 1997
  (the "Offer Period"), Hercules held 335,000 David Glass
  Shares (representing approximately 6.18 per cent. of the
  issued share capital of David Glass).  Hercules has not,
  other than pursuant to the Offer, acquired or agreed to
  acquire any further David Glass Shares during the Offer
  Period. 
   
  Prior to the announcement of the Offer on 22 July 1997,
  Hercules had received undertakings to accept the Offer from
  Eaglet Investment Trust plc in respect of 1,076,000 David
  Glass shares (representing approximately 19.86 per cent. of
  the issued share capital of David Glass), and from David
  Glass, Mr D A Boothman and Mrs B M Boothman in respect of an
  aggregate of 180,000 David Glass Shares (representing
  approximately 3.1 per cent. of the issued share capital of
  David Glass).  Valid acceptances had been received by the
  first closing date in respect of all of the shares subject
  to these undertakings and are included in the above total.
  
  In addition, Safeland plc ("Safeland"), which is deemed to
  be acting in concert with Hercules for the purposes of the
  Code, undertook to accept the Offer in respect of its
  holding of 1,217,833 David Glass Shares, representing 22.48
  per cent. of the issued share capital of David Glass. 
  
  As at 5.00pm on 27th August 1997 valid acceptances had been
  received in respect of 4,778,367 David Glass Shares,
  representing approximately 88.22 per cent. of David Glass'
  issued share capital. These included valid acceptances
  pursuant to the undertaking referred to above in respect of
  1,192,833 David Glass shares beneficially owned by Safeland.
  It is expected that a valid acceptance will be received in
  respect of the balance of Safeland's shareholding (being
  25,000 shares) in due course.
   
  The Offer has been declared unconditional in all respects,
  save for Admission.  It is anticipated that the new Hercules
  Shares to be issued pursuant to the Offer and to the
  associated placing and open offer will be admitted to
  trading on AIM at 8.30am on Tuesday 9th September 1997. The
  Offer will remain open for acceptance until further notice. 
  At least fourteen days' notice will be given before the
  Offer is closed.  The Cash Alternative remains open for
  acceptance until 3.00pm on 3rd September 1997 and will close
  at that time.
  
  It is expected that cheques will be posted to those David
  Glass shareholders who have elected for the cash
  alternative, and share certificates will be posted to those
  David Glass shareholders who have accepted the share for
  share offer as at 16th September 1997 by no later than 23rd
  September 1997.  Thereafter, share certificates will be
  posted to shareholders accepting the offer after 16th
  September 1997 on a weekly basis.
  
  ENQUIRIES:
  
  Larry Lipman / Paul Davis
  Hercules Property Services plc                0181 203 9099
  
  Jagjit Mundi
  Guinness Mahon & Co.  Limited              0171 623 9333
  
  Oliver Hemsley
  Raphael Zorn Hemsley                       0171 776 1500
  
  Baron Phillips
  BP Associates                              0171 224 1302
  
  
  END

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