RNS Number:5072O
Resurge PLC
8 August 2003

                              RESURGE PLC

               Possible Offer for London Forfaiting Company PLC

Shareholders of London Forfaiting Company PLC ("LFC") will be aware of the
announcement by Resurge Plc ("Resurge") that it was in discussions with the
Board of LFC which may or may not lead to an offer for LFC.

Resurge remains a potential bidder for LFC despite the imminent first closing 
date of the cash offer by FIMBank (UK) Limited ("FIMBank") for LFC.

Resurge is contemplating making a share offer for LFC at a value that would be
competitive with the offer by FIMBank. Resurge may also offer a partial cash
alternative to such a share offer. A share offer, if made, would provide LFC
shareholders with an opportunity to maintain an interest in LFC, which Resurge
believes has attractive opportunities going forward given appropriate capital
and management support. Resurge believes that LFC would represent an excellent,
complementary investment opportunity.

Resurge intends to continue its discussions with the Board of LFC, its advisers
and with its shareholders with a view to concluding negotiations as soon as
possible. In the interim, LFC shareholders are urged not to accept the FIMBank
offer.

It should be noted that this announcement does not constitute an announcement of
a firm intention to make an offer for LFC, as defined under Rule 2.5 of The City
Code on Takeovers and Mergers, and that it is not certain that a firm offer by
Resurge will be forthcoming.

This announcement, for which Resurge is responsible, has been approved by ARM
Corporate Finance Limited for the purposes of Section 21 of the Financial
Services and Markets Act 2000.

Enquiries:
Jamie Constable Joint managing director, tel : 020 7233 4270 
Jonathan Rowland, joint managing director, tel: 020 7233 4270



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

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