RNS Number:9690Z
Parkwood Holdings PLC
6 March 2001

                            Parkwood Holdings Plc

                         ("Parkwood" or "the Group")


                    Acquisition / Notice of Final Results


Acquisition

Parkwood has today agreed terms for the acquisition of the trade and assets of
the National Ambulance Service ("NAS") by Parkwood Healthcare Ltd.

The NAS is an unincorporated business involved in the provision of Non
Emergency Patient Transport Services ("NEPTS") in the Greater London area. The
Group intends to combine the business with its existing NEPTS contract in
Essex and should achieve annualised turnover of over #1m. It is expected that
the experience and know-how of the vendors of the NAS, who will continue to
work for Parkwood, will assist Parkwood in bidding for further work in this
sector.


The total agreed consideration is #300k, of which #40k is payable in cash on
completion, with the balance of #260k settled by loan notes, which are
redeemable in 3 instalments over the 12 months to March 2002. The price paid
is subject to an adjustment relating to Net Assets at the date of completion,
with this amount being determined on agreement of Completion Accounts.


As at 31 December 2000, the NAS showed net assets of #266k and management
accounts showed a profit before tax of #84k in the year to 31 December 2000.
Audited results for the year ended 31 December 1999 showed a profit before tax
of #19k and closing net assets of #182k.


Tony Hewitt, Group Chairman and Chief Executive, stated that: "This
acquisition represents a step forward for the business of Parkwood Healthcare.
The NEPTS market is a large market, in which the private sector has not yet
made significant inroads. I believe that we will now be well placed to benefit
from the opportunities available to us here".


Results for the Year Ending 31 December 2000 and Current Trading


As previously reported, results for the year ending 31 December 2000, the
preliminary announcement of which will be released on 2 April 2001, have been
severely affected by the closure of the loss making Landscape Construction
business in August 2000.


However, I am pleased to report that results for the year are likely to be in
line with current market expectations and that the Group has returned to
profit in the second half of the year. In addition, strong cashflows have
resulted in a 32% reduction in Net Debt during the year.


The Group can also announce that it has won two further contracts with
Portsmouth City Council, with a combined annual value of c#850k, which takes
our total business with this client to over #1.5m per annum. These new
contracts have started well, building a strong relationship with an existing
customer.


Trading in the first 2 months of the year 2001 is in line with budgets,
although a further update on trading will be provided at the AGM on 1 May
2001.


For further information please contact:

Tony Hewitt, Chairman and Chief Executive                    01772 627111
Doug Eadie, Group Finance Director                           01772 627111
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