RNS Number:6979H
Sigma Technology Group PLC
19 February 2003

Sigma Technology Group plc

19 February 2003



NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES,
CANADA, AUSTRALIA OR JAPAN



For immediate release


19 February 2003





                      Sigma Technology Group plc ("Sigma")



                       Recommended cash and share offer



                        for Lionheart plc ("Lionheart")


                         Update on level of acceptances



The Board of Sigma announces that by 3.00pm on 18 February 2003, valid
acceptances of the Offer had been received in respect of 3,872,551 Lionheart
Shares, representing approximately 53.75 per cent. of the existing share capital
of Lionheart.



The Offer has been extended until 3.00pm on Monday 3 March 2003.



Prior to making the Offer, Sigma received irrevocable undertakings to accept the
Offer from the Independent Director of Lionheart and M&G Investment Management
Limited in respect of a total of 2,172,998 Lionheart Shares, representing
approximately 30.1 per cent. of the issued ordinary share capital of Lionheart.
As at 3.00pm on 18 February 2003, valid acceptances in respect of a total of
2,172,998 Lionheart Shares, representing approximately 30.1 per cent. of the
issued share capital of Lionheart, had been received pursuant to these
undertakings and are included in the valid acceptances above.



Save as disclosed above, neither Sigma nor any persons acting or deemed to be
acting in concert with Sigma for the purpose of the Offer owned or controlled
any Lionheart Shares or any rights over such Lionheart Shares prior to the
commencement of the Offer Period; and neither Sigma nor any person acting or
deemed to be acting in concert with Sigma for the purposes of the Offer has
acquired or agreed to acquire any Lionheart Shares (or rights over Lionheart
Shares) during the Offer Period.



Definitions used in the Offer Document dated 27 January 2003 have the same
meaning when used in this announcement, unless the context requires otherwise.





Enquires:



Sigma Technology Group plc
Graham Barnet                         Tel: 0131 220 9444
Neil Crabb
Tel: 020 7653 3200


Oriel Securities Limited              Tel: 020 7710 7600
(Financial adviser to Sigma)



Andrew Edwards
Natalie Fortescue





Oriel Securities Limited, which is regulated by the Financial Services
Authority, is acting exclusively for Sigma and no-one else in connection with
the Offer and will not be responsible to anyone other than Sigma for providing
the protections afforded to its customers, nor for providing advice in relation
to the Offer, the contents of this announcement or any other matters referred to
herein.



The availability of the Offer to persons not resident in the United Kingdom may
be affected by the laws of the relevant jurisdictions. Such persons should
inform themselves about and observe any applicable requirements of those
jurisdictions.



The Offer is not be made, directly or indirectly, in or into, or by use of the
mails of, or by means or instrumentality (including, without limitation,
telephonically or electronically) of interstate or foreign commerce of, or any
facilities of a securities exchange of, the United States, Australia, Canada or
Japan, and the Offer will not be capable of acceptance by any such use, means or
instrumentality or facilities or from or within the United States, Australia,
Canada, or Japan. Accordingly, copies of the announcement and any other
documents related to the Offer are not being, and must not be, directly or
indirectly, mailed or otherwise forwarded, distributed or sent in or into the
United States, Australia, Canada or Japan and persons receiving this
announcement (including custodians, nominees and trustees) must not mail or
otherwise forward, distribute or send it in or into the United States,
Australia, Canada or Japan. Doing so may render invalid any purported acceptance
of the Offer.



The New Sigma Shares to be issued pursuant to the Offer have not been, and will
not be registered under the United State Securities Act of 1933 (as amended) or
under any of the relevant securities laws of Canada, Australia, Germany or
Japan. Accordingly, the New Sigma Shares may not be offered, sold, resold or
delivered, directly or indirectly, in or into the United States, Canada,
Australia, or Japan.



This announcement does not constitute an offer or invitation to purchase or
subscribe for any securities.



The Sigma Directors accept responsibility for the information contained in this
announcement. To the best of the knowledge and belief of the Sigma Directors
(who have taken all reasonable steps to ensure that such is the case) the
information contained in this announcement for which they have accepted
responsibility is in accordance with the facts and does not omit anything likely
to affect the import of such information.


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