RNS No 6446m
POLICY MASTER GROUP PLC
20 July 1999


POLICY MASTER GROUP PLC
ACQUISITION OF MEDIA MAKER LIMITED
AND PLACING OF 424,617 NEW ORDINARY SHARES AT 235p PER SHARE

Policy  Master Group Plc ("the Company" or "Policy Master"),
the  insurance software provider, announces the  conditional
acquisition  of Media Maker Limited ("Media  Maker")  for  a
maximum  consideration  of #3.4 million  and  a  placing  of
424,617  new ordinary shares ("the Placing Shares") at  235p
per  share.  The acquisition and placing are conditional  on
the new ordinary shares being admitted to trading on AIM.

Media   Maker has emerged as a leader in the design of intranet
and internet solutions and multi-media communications for a 
client base which includes Bass Brewers, Boots Plc and Softlab 
- the software arm of BMW.  

Of  the  total  maximum consideration payable,  #515,000  is
payable  on completion and will be satisfied by the  payment
to  the  vendors of #15,000 in cash and the issue of 212,766
ordinary  shares.  These shares have been renounced  by  the
vendors   and   are   included  in  the  placing.   Deferred
consideration is payable on a formula basis dependent on the
profits  of  Media  Maker over the next  three  years.   The
maximum  deferred  consideration of  #2.9  million  will  be
payable if the aggregate profits before interest and tax  of
Media  Maker for the 3 financial periods ending 31  December
2001  reach  #1.2 million. The audited accounts  of  Media
Maker  for the year ended 30 November 1998 recorded  profits
before  taxation  of #242,000 (after non-recurring  employee
and directors' bonuses) and net assets of #11,000.

As   part   of   the  placing  Policy  Master   is   raising
approximately #500,000, before  expenses through  the  issue
of 211,851 new ordinary shares for cash at 235p. The proceeds 
of the placing will be used for working capital purposes, and 
to fund the Company's recent acquisition of the MediQuote
business.  MediQuote is the industry's only Private Medical
Insurance comparative quotation software.

Application  has  been made for new ordinary  shares  to  be
admitted  to trading on AIM and it is expected that  trading
in these shares will commence on 23 July 1999.

Commenting   on   the  acquisition,  Steve  Verrall,   Chief
Executive of Policy Master said:

"The  acquisition of Media Maker will give us an  integrated
skill  set  and will complete our offering in the  ecommerce
field,  where we are becoming a key player.  We are  already
generating  revenue  from internet-and  digital  television-
related development contracts.

The  combination of Policy Master's software product  engine
and Media Maker's front-end skills will enable the Group  to
develop  turnkey,  end-to-end solutions  for  insurance  and
financial services, from interface design through to  legacy
system integration.

The  acquisition will add value to our existing applications
such  as GeminiNet and PM Online.  It will also allow us  to
exploit opportunities to deliver high-value solutions to our
existing  user  base and to other organisations  wishing  to
exploit electronic channels to market."


END

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