PKW Parkwood Hldgs.

    FOR RELEASE 10th May 2004

                             Parkwood Holdings plc                             

("Parkwood" or "the Company")

                      ACQUISITION OF CCL LEISURE LIMITED                       

Parkwood is pleased to announce that it has now completed its acquisition of
CCL Leisure Limited and its subsidiaries ("CCL Group"), a business involved in
the management of 26 leisure facilities, from Clear Channel Entertainment
(Theatrical) UK Limited ("CCE").

The conditional agreement with CCE to acquire the CCL Group was announced on
16th April 2004 and, in accordance with the Acquisition circular to
shareholders dated 22nd April 2004, an Extraordinary General Meeting of the
Company was held this morning at which the acquisition was approved.

Information on the CCL Group

The business of the CCL Group is the management of leisure facilities for local
councils in England, which fit well into Parkwood's existing geographic regions
of operations. Based on the current expiry dates of the contracts for the 26
Leisure facilities and without any renewals, the number of facilities will have
fallen to 13 by the end of 2006. The then remaining contracts have expiry dates
between 2007 and 2028.

In the year ended 31 December 2003, the CCL Group reported a pre-tax loss of �
0.9million on turnover of �23.7million. A number of the CCL Group contracts are
loss making. It is Parkwood's intention to pursue extensions on those contracts
where an appropriate level of return can be made in the future. The CCL Group
does however have a number of operating contracts which are expected by the
Company to provide attractive returns for several years. This, when coupled
with the fact that the incremental costs of operating the business within the
Parkwood Group are expected to be lower than those currently incurred by the
CCL Group within its current structure, is expected to result in an improvement
to the CCL Group's profitability.

Current trading

As noted in the Acquisition circular dated 22nd April 2004, "*. the Group has
made a better start to the current financial year. This, when combined with the
Directors' expectation of a modest contribution to earnings from the CCL Group
following the acquisition, enables the Directors to be optimistic about the
financial and trading prospects of the Enlarged Group for the current financial
year."

Chairman's comment

Tony Hewitt, Executive Chairman commented "We are very pleased to have
completed the Acquisition of CCL which brings increased opportunity for the
enlarged group. We welcome the CCL Group employees and clients to the Parkwood
Group and look forward to a successful future together."

For further information please contact:

Parkwood Holdings plc

Tony Hewitt, Executive Chairman 01772 627111

Charles Bithell, Group Finance Director 01772 627111

Notes for Editors:

Parkwood Holdings plc and its subsidiaries specialises in providing outsourced
service to the public sector across England and Wales under long term
contracts. Its three main areas of operation are as follows:

  * Glendale - The management of parks and open spaces for a predominantly
    local authority client base. This operation is currently being expanded
    into related "green" businesses, for example, under the "Think Green -
    Think Glendale" strapline.
   
  * Parkwood Leisure - The management of a diverse range of leisure facilities,
    again predominantly for local authority clients. This division is also the
    operator or provider of services under most of the Parkwood Group's
    contracts won under the PFI/PPP procurement process.
   
  * Parkwood Healthcare - The provision of non-emergency patient transport to
    NHS Trusts under the "National Ambulance Service" banner, together with the
    provision of nurses on an agency basis to both NHS Trusts and the private
    sector.
   
  * Parkwood PFI Projects - The entering into of PFI or PPP and other similar
    contracts or joint ventures on behalf of the Parkwood Group, generating
    long term operating business. This division is also responsible for the
    project management of contracts on behalf of the Parkwood Group's
    associates and joint ventures to which members of the Parkwood Group are a
    party and management of other funds such as the lifecycle funds associated
    with the PFI project agreements.
   



END

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