RNS Number:2531X
10 Group PLC
01 April 2004

1 April 2004



Announcement



                          10 Group Plc (the "Company")

                           Results of the Open Offer



On 9 March 2004, the Board of the Company announced the terms of an open offer
of up to 48,964,136 New Ordinary Shares ("New Ordinary Shares") at 1p per share,
on the basis of 2 New Ordinary Shares for every existing ordinary share of 1p
each in the Company and a placing of 16,000,00 New Ordinary Shares of 1p each in
the Company at 1p per share, to raise in aggregate up to approximately #649,000
(before expenses). Additionally for every 2 New Ordinary Shares issued in the
open offer and placing each subscriber would receive 1 warrant to subscribe for
1 new ordinary share at 1p at any time up to the third anniversary of admission
to trading.



The Board of the Company is pleased to announce that by 11.00am on 30 March
2004, being the latest time and date for receipt of application forms and
payment in full under the open offer, 25,099,452 New Ordinary Shares had been
applied for pursuant to the open offer. The balance of New Ordinary Shares
offered under the open offer is being placed by Seymour Pierce Ellis Limited
under theterms of the underwriting agreement. A further 16,000,000 New Ordinary
Shares have been placed by Seymour Pierce Ellis Limited pursuant to the placing.



Accordingly, a total of 64,964,136 New Ordinary Shares and 32,482,068 warrants
have today been issued under the open offer and placing. A further 35,000,000
ordinary shares have been issued in consideration for the acquisition of Oakburn
Import/Export Limited with a further 21,500,000 New Ordinary Shares and
8,250,000 warrants having been issued pursuant to subscription agreements.



Application has been made for the enlarged issued ordinary share capital of the
Company and the warrants to be admitted to trading on the AIM market operated by
the London Stock Exchange plc.



Dealings are expected to commence at 8.00am on 2 April 2004.


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

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