RNS Number : 9670G Mountfield Group plc 30 October 2008 Press Release 30 October 2008 Mountfield Group plc ("Mountfield", the "Group" or the "Company") First day of dealings on AIM Mountfield Group plc, a provider of integrated specialist construction support services, today announces the commencement of dealings in its Ordinary Shares on the AIM market of the London Stock Exchange plc ("AIM"). The stock market EPIC is MOGP. Daniel Stewart & Company plc is acting as Nominated Adviser and Broker to Mountfield Group plc. Statistics Number of Ordinary Shares in issue at Admission 169,558,520 Issue Price of Ordinary Shares at Admission 10 pence Market Capitalisation of the Company on Admission at the £16.96 million Admission Price Mountfield's three integrated subsidiaries deliver a range of construction and property services to the private sector. The principal businesses specialise in the design, installation and fitting out of commercial office buildings and data centres. The Group intends to acquire additional businesses that will add further complementary services and cross selling opportunities. Graham Read, Chief Executive of Mountfield Group plc, said: "There is great value for us in joining the AIM market so I am delighted at this successful admission which will enhance our commercial profile in the sectors in which we operate. It provides us with a means to acquire complementary businesses and being quoted on AIM will provide a way in which to incentivise both existing and prospective subsidiary company managers. Such acquisitions will be a fundamental component of our strategy. We are seeing an increased demand for secure data centres in the UK and elsewhere and so we are well placed to maximise on this growth." - Ends - For further information: Mountfield Group plc Peter Jay, Executive Chairman Tel: +44 (0) 20 7398 7714 Graham Read, Chief Executive Officer www.mountfieldgroupplc.com Daniel Stewart & Company Plc Paul Shackleton / Oliver Rigby Tel: +44 (0) 20 7776 6550 oliverr@danielstewart.co.uk www.danielstewart.co.uk Media enquiries: Abchurch Stephanie Cuthbert / Jack Ballantyne Tel: +44 (0) 20 7398 7714 jack.ballantyne@abchurch-group.com www.abchurch-group.com Notes to Editors: Mountfield Group is a provider of specialist construction and property services to the private sector. The Group's principal activity is the internal construction and fit out of data centres for a number of industry sectors including telecoms and IT. Mountfield consists of three integrated businesses employing approximately 70 specialist tradesmen. The current subsidiaries that trade under the parent Company, Mountfield Group plc, are; Mountfield Building Group Limited, Mountfield Land Limited and Connaught Access Flooring Limited. The Group intends to acquire additional businesses that will add further complementary services and cross-selling opportunities to both the private and public sectors. At Admission the Group's activities comprise: · Design and nationwide installation of environmentally controlled data centres. · Builderswork packages on commercial IT facility buildings. · Installation of specialist access flooring to data centres, disaster recovery centres and commercial office buildings. · Fitting out and refurbishment of commercial office buildings, hospitals and education facilities. · Specialist bespoke hard flooring finishes including timber, stone and ceramics. · Site assembly for residential and commercial developments. Mountfield Building Group Established in 1987, the company has two divisions; direct contracting and trade contracting services. The direct contracting division works as the main contractor with the end user clients such as Cable and Wireless. This division specialises in the nationwide installation of data centres for large companies. The trade contract division delivers specialist building work and multi-trade packages and refurbishment for main development contractors including ISG PLC and Skanska. Connaught Access Flooring ("Connaught") Formed in 1992, Connaught is a provider of flooring systems to both main contractors and corporate end users. The company has established itself as one of the few recognised specialists for fitting commercial office space for corporate end users. It has delivered fit out and refurbishment projects for end users such as Standard Chartered Bank, and Unilever plc. Mountfield Land Mountfield Land sources and enhances the value of land before selling its interest to developers. The company develops brownfield sites and residential gardens and/or private dwellings to create residential development opportunities. It does not purchase the sites, instead it seeks an option over the site and a share of the completed value of the land before it assigns the options to a developer, housing association or registered land owner. Financials For the year ended 31 December 2007, Mountfield Building Group generated revenues of £11.3 million and a profit before tax ("PBT") of £1.1 million and for the six months ended 30 June 2008 generated revenues of £10 million and PBT of £1.2 million. For the year ended 31 March 2008, Connaught Access Flooring Holdings Limited generated revenues of £8 million with PBT of £1.4 million. Mountfield Land Limited was incorporated in February 2008 and is yet to contribute to the Group. Market and strategy The Group's principal companies have extensive and recognised experience in the installation of data centres and associated specialist works. The Directors believe that this is a marketplace that is growing rapidly and that the Group is well placed to benefit from such growth because of its established client base and its reputation for delivering quality work within agreed contractual times. In addition, the Group intends to identify target sectors in the commercial field into which it can extend its current business model including the fitting out and refurbishment of office buildings and general builderswork packages. The Group will also seek to develop and grow new businesses organically by the creation of new internal divisions that do not require external funding. The Directors intend to create a labour supply/site logistics service which would benefit all companies within the Group and to also seek opportunities to provide labour to major projects such as the London 2012 Olympic and Paralympic Games and King's Cross Central development. Further information on Mountfield Group plc can be found at www.mountfieldgroupplc.com Directors Peter Harry Jay - Executive Chairman (aged 63) Peter qualified as a solicitor in 1970 and was a partner in Ingledew Brown Bennison & Garrett from 1974 until 1985 when he left to become a founding partner of Stein Swede Jay & Bibring, which later became Finers Stephens Innocent. Peter was senior partner of the firm between 1999 and 2002 and in that capacity was responsible for undertaking a number of mergers and acquisitions for the practice. As a lawyer, Peter has specialised in corporate work and, in particular, on AIM and PLUS Market listings. Between 2003 and April 2007 Peter was a partner in Beachcroft LLP where he was responsible for building its AIM presence. In April 2007 he retired as a partner and a solicitor and is now a consultant to that firm. Peter has held a number of directorships with both private and public companies, including Sportingbet plc, Top Ten Holdings plc and is currently non-executive director of YCO-Deuxmil plc and Interactive Publications Plc. His executive role within the Group will include responsibility for its corporate finance functions. Graham Read MCIOB, RICS - Group Chief Executive (aged 51) Prior to the acquisition of Mountfield by the Company, Graham was the chief executive and sole shareholder of Mountfield. He started his career in 1976 as a Quantity Surveyor for Taylor Woodrow Construction Limited ("Taylor Woodrow"). By 1986, when he left the company, he had become Commercial Manager for Taylor Woodrow's management contracting division where his responsibilities included: · Cost/value reports on projects; · Board statement/guidance/training of surveying members of staff; · Client negotiation and settlement of contracts; and · Financial agreement of final accounts with clients cost consultants In 1986 he founded Mountfield as a trade contractor specialising in brickwork and plastering subcontracts. In the following year he identified the need for specialist builderswork contracts to operate on fitting out projects and the company offered multi trade services to the leading main contractors. Andrew Collins - Executive Director (aged 44) Andrew's background is in surveying and he has held a number of senior posts with companies specialising in refurbishing and fast track fit outs. In 1989 he joined ISG Plc, which specialises in commercial fit outs and refurbishment services, as a senior quantity surveyor. When he left the company in 2004 he held the post of divisional financial director. Andrew became Managing Director of Connaught in June 2004 where he has developed the reputation of the company such that it is now regarded as recognised specialists in the supply and installation of raised access flooring, primarily for commercial offices and data centres. Rakesh Patel, BA Econ, FCCA, CF - Finance Director (aged 44) Rakesh joined Gerald Edelman, a firm of chartered accountants in London in 1988 and qualified as a Chartered Certified Accountant in 1991. In 1992 he formed the corporate finance division, dealing with acquisitions, disposals, mergers, private placings and stock market flotations. Rakesh was involved in advising on the acquisition of Ryman the Stationer and left the firm in 1996 to become Group Financial Controller of Chancerealm Limited, a group including Ryman Limited and Contessa Ladieswear Limited. Rakesh returned to Gerald Edelman in 1997 as a partner to head the firm's corporate finance division until 15 leaving in March 2003 to join Adler Shine LLP, chartered accountants as a Partner. Rakesh is on the board of two AIM listed investing companies. The Rt Hon Sir Jeremy Hanley KCMG- Non-Executive Director (aged 62) A Chartered Accountant, Sir Jeremy has carried on a wide-ranging commercial life since retiring from politics in 1997. Previously he was Member of Parliament for Richmond and Barnes from 1983-97, and a Government Minister for over seven years. His posts included: Cabinet Minister without Portfolio whilst Chairman of the Conservative Party, Minister of State for Foreign Affairs (responsible for Hong Kong and the Middle East), Minister of State for the Armed Forces at the Ministry of Defence and Under Secretary for State for Northern Ireland as Minister for Health & Social Services, Minister for Agriculture and for Education and Political Development. He qualified as an FCA (1969), FCCA (1980) and FCIS (1980) and was Senior Lecturer in Law with the Financial Training Co. for 21 years, becoming Deputy Chairman. He now serves on the Boards and Audit Committees of a number of quoted and unquoted companies, including currently Willis Group Holdings Inc, Lottomatica SpA., Nymex London Ltd, Langbar International plc, Onslow Suffolk Ltd and Blue Hackle Ltd after serving with Credit Lyonnais, Nymex Europe, CSS Stellar (and PFD) Ltd and Gtech Inc. He is a consultant to ITE Group plc, and having led 17 high level trade missions in recent years to eight countries; he is a consultant on trade in the Middle East and Asia and a director of the Arab British Chamber of Commerce. This information is provided by RNS

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