PNX Phoenix It

RNS Number:9233T
ICM Computer Group PLC
28 March 2007


NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR
FROM THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN OR ANY OTHER JURISDICTION
WHERE IT WOULD BE UNLAWFUL TO DO SO.


Fawkes Limited

28 March 2007


Statement re: Cash and share offer by Phoenix IT Group plc ("Phoenix IT") for
ICM Computer Group plc ("ICM")


Fawkes Limited ("Fawkes") notes the announcement made by Phoenix IT regarding
its cash and share offer for ICM. Fawkes is considering its response and will
make a further announcement in due course.


Enquiries:

Fawkes                                                             01924 422 111
Steve Wainwright

Rothschild (Financial Adviser to Fawkes)                           0113 200 1900
David Forbes
David Wilton

Altium (Broker to Fawkes)                                          020 7484 4040
Nick Tulloch

Gresham                                                            020 7309 5000
Mike Henebery

Citigate Dewe Rogerson (PR advisers to Fawkes)                     020 7638 9571
Sarah Gestetner
Agnes Riousse


N M Rothschild & Sons Limited, which is authorised and regulated by the
Financial Services Authority in the United Kingdom, is acting for Fawkes and no
one else in relation to the Offer and will not be responsible to anyone other
than Fawkes for providing the protections afforded to clients of N M Rothschild
& Sons Limited nor for providing advice in relation to the Offer or any other
matters referred to in this announcement.


Altium Capital Limited, which is authorised and regulated by the Financial
Services Authority in the United Kingdom, is acting for Fawkes and no one else
in relation to the Offer and will not be responsible to anyone other than Fawkes
for providing the protections afforded to clients of Altium Capital Limited nor
for providing advice in relation to the Offer or any other matters referred to
in this announcement.


This announcement does not constitute an offer to sell or an invitation or
solicitation to purchase or subscribe for any securities.


Dealing Disclosure Requirements


Under the provisions of Rule 8.3 of the City Code, if any person is, or becomes,
"interested" (directly or indirectly) in 1 per cent. or more of any class of
"relevant securities" of ICM, all "dealings" in any "relevant securities" of ICM
(including by means of an option in respect of, or a derivative referenced to,
any such "relevant securities") must be publicly disclosed by no later than 3.30
pm (London time) on the London business day following the date of the relevant
transaction. This requirement will continue until the date on which the Offer
becomes, or is declared, unconditional as to acceptances, lapses or is otherwise
withdrawn or on which the "Offer Period" otherwise ends. If two or more persons
act together pursuant to an agreement or understanding, whether formal or
informal, to acquire an "interest" in "relevant securities" of ICM, they will be
deemed to be a single person for the purpose of Rule 8.3.


Under the provisions of Rule 8.1 of the City Code, all "dealings" in "relevant
securities" of ICM by Fawkes or ICM, or by any of their respective "associates",
must be disclosed by no later than 12.00 noon (London time) on the London
business day following the date of the relevant transaction.


A disclosure table, giving details of the companies in whose "relevant
securities" "dealings" should be disclosed, and the number of such securities in
issue, can be found on the Panel's website at www.thetakeoverpanel.org.uk.


"Interests in securities" arise, in summary, when a person has long economic
exposure, whether conditional or absolute, to changes in the price of
securities. In particular, a person will be treated as having an "interest" by
virtue of the ownership or control of securities, or by virtue of any option in
respect of, or derivative referenced to, securities.


Terms in quotation marks are defined in the City Code, which can also be found
on the Panel's website. If you are in any doubt as to whether or not you are
required to disclose a "dealing" under Rule 8, you should consult the Panel.




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

END
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