RNS Number:4171Y
Mallett PLC
15 June 2007

                                                                    15 June 2007



This announcement should not be transmitted, distributed or released in or into
any jurisdiction in which such an act would constitute a violation of the
relevant laws of such jurisdiction.



Teather & Greenwood Limited ("Teather & Greenwood")



Mallett PLC ("Mallett") - Initial Repurchase Offer for B Shares



Mallett has appointed Teather & Greenwood to make the Initial Repurchase Offer
in accordance with the Circular to Shareholders dated 14 May 2007.



Teather & Greenwood hereby makes the Initial Repurchase Offer, acting as
principal, to purchase the 6,836,577 B Shares in respect of which valid
elections in respect of the Initial Repurchase Offer have been received and not
withdrawn from Shareholders on the terms set out in the Circular to
Shareholders. Accordingly, such offer is to purchase B Shares for 58 pence each,
free of all dealing expenses and commissions, in an off-market transaction on
the terms set out in the Circular.



With respect to Shareholders, cheques and sale advices are expected to be
despatched and assured payments made through CREST on 29 June 2007 in respect of
B Shares purchased under the Initial Repurchase Offer.



Notes:



All definitions used in the Circular to Shareholders dated 14 May 2007 apply to
this announcement.



This announcement has been issued by Teather & Greenwood which is authorised and
regulated in the United Kingdom by the Financial Services Authority.



Enquiries:



Teather & Greenwood: James Glancy / Tom Hulme

                                    Telephone +44 (0) 20 7426 9593


Teather & Greenwood Limited is acting as broker to Mallett PLC and is acting for
no one else in connection with the Return of Cash and will not be responsible to
anyone other than Mallett PLC for providing the protections afforded to
customers of Teather & Greenwood Limited nor for providing advice in connection
with the Return of Cash or the contents of this announcement or any other matter
referred to herein.

This announcement does not constitute an invitation to underwrite or subscribe
for any securities or investment advice in any jurisdiction.

Nothing in this announcement should be taken as constituting an offer of shares 
in Mallett PLC.

This document should not be transmitted, distributed or released in or into any
jurisdiction in which such an act would constitute a violation of the relevant
laws of such jurisdiction. This announcement does not constitute an offer to
sell or issue, or the solicitation of an offer to buy or subscribe for,
securities in any jurisdiction in which such offer or solicitation is unlawful.

The distribution of this announcement in or into jurisdictions other than the
United Kingdom may be restricted by local law and therefore persons into whose
possession this announcement or the Circular come should inform themselves about
and observe such restrictions. Any failure to comply with these restrictions may
constitute a violation of the securities laws of any such jurisdiction.

None of the B Shares have been or will be registered under the US Securities
Act, as amended or the securities laws of any other United States jurisdiction,
and none of them may be offered or sold in the United States unless pursuant to
an exemption from or in a transaction not subject to the registration
requirements of the US Securities Act or unless pursuant to a transaction that
has been registered under the US Securities Act and the securities laws of any
other relevant United States jurisdiction.

Neither the B Shares nor this announcement have been approved, disapproved or
otherwise recommended by the SEC or any United States state securities
commission or any non-United States securities commission or regulatory
authority nor have such authorities confirmed the accuracy or determined the
adequacy of this announcement or the Circular. Any representation to the
contrary is a criminal offence in the United States.




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

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