PGI Pgi Grp

RNS Number:7036G
Plantation & General Investmnts.PLC
21 December 2004


                    PLANTATION & GENERAL INVESTMENTS PLC

Plantation & General Investments Plc ("PGI") announces that its newly formed
Zambian subsidiary Chalimbana Fresh Produce Ltd (Chalimbana) has agreed to
acquire certain agricultural properties and related assets in Zambia from
Agriflora Ltd, a company in receivership. Agriflora Ltd was engaged in
producing, packing and selling for export fresh vegetables and roses.

The total consideration amounts to US$2.5 million payable in cash of which
US$0.5 million has been paid as a deposit and US$2 million will be paid on
completion, which is expected to be by the end of December 2004.

Chalimbana will grow, process and pack vegetables for export to leading UK food
retailers. The rose production assets will be transferred to the PGI group's
neighbouring subsidiary, Khal Amazi Ltd, which exports cut roses to Europe. This
acquisition will, over the next two years, double Khal Amazi's output to about 3
million stems per week.

For further information please contact:

R J Clothier - Group Chief Executive ) 020 7246 0207
G Moores - Group Finance Director    )







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

END
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