Parkwood Holdings plc                             


15 May 2007

                         Acquisition of IMDAC Limited                          

Parkwood Holdings plc the support services specialist, ("the Company"), is
pleased to announce that its wholly-owned subsidiary, Parkwood Project
Management Limited ("Parkwood Projects"), has purchased the entire issued share
capital of IMDAC Limited ("IMDAC") from Innisfree M&G PPP LP ("the Vendor").

As a result of this transaction the Company now controls 100% of the issued
share capital of DAC Support Services Limited (DAC) and its 100% owned
subsidiary Realm Services (DAC) Limited ("Realm").

Realm is a Special Purpose Vehicle formed in 2002 to finance, design, build,
operate and maintain facilities at the Defence Animal Centre for the Ministry
of Defence under a Private Finance Initiative (PFI) agreement, which runs until
November 2026.

The Defence Animal Centre, based in Melton Mowbray, Leicestershire, has gained
a reputation as one of the world's leading training establishments for working
military animals and their handlers.

The consideration for the acquisition totalled �828,716, which was settled in
cash on completion.. In addition, a loan from the Vendor of �1,571,283 was
repaid on completion.

For the period from 2 March 2005 till 31 March 2006, the latest period for
which IMDAC has produced audited accounts, IMDAC reported profits before tax of
�280,008, and as at 31 March 2006 had net assets of �1.

Tony Hewitt, Executive Chairman, commented:

"We are pleased to announce our 100% ownership of this successful and
profitable PFI contract, which has enabled the Defence Animal Centre to become
one of the world's leading military animals training facilities.

"As well as earning potential dividends, each of our seven PFI/ PPP projects
gives Parkwood the opportunity, at the right time, to realise further
underlying value by refinancing the senior debt or by disposing of subordinated
loans in the PFI/PPP secondary market."

For further information, please contact:

Tony Hewitt, Executive Chairman - 01772 627111

Terry Bowman, Group Finance Director - 01772 627111

Norah Burns, Company Secretary - 01772 627111

Neil Baldwin, Brewin Dolphin Securities Limited - 0113 241 0126

Neil Boom, Gresham PR Limited - 0207 404 9000


Notes to editors:

About Parkwood Holdings plc:

Parkwood Holdings plc - specialises in providing outsourced and support services,
predominantly to the public sector across England and Wales under long term
contracts. Its four main areas of operation are as follows:

Glendale - Provides amenity horticulture, grass cutting, arboriculture and care
of sports pitches, parks and open spaces. The division also includes golf
course management, recycling, environmental consultancy, tree moving and
horticulture.

Parkwood Leisure - manages a diverse range of public and private leisure
facilities, including swimming pools, sports halls, gyms, health-suites and
catering operations.

Project Management - Undertakes PFI, PPP and similar bids on behalf of joint
ventures and the Group. Parkwood Project Management is also responsible for
project management of contracts and the management of other funds such as the
lifecycle funds associated with the project agreements.

Healthcare - A nursing agency and ambulance and patient transport business,
dealing both with the NHS and the private sector.

15 May 2007



END
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