Further Acqn. of Interest

AUKETT ASSOCIATES PLC 4 October 1999 AUKETT ASSOCIATES PLC: ACQUISITION IN HOLLAND BALANCE OF INVESTMENT IN THE NETHERLANDS ACQUIRED FOR £580,000 IN CASH Aukett Associates, one of Europe's leading building design practices, has exchanged contracts to acquire the 50% shareholding which it did not already own of Aukett Kokon Beltman B.V. ('A+K'), an architectural practice based in Amsterdam. A+K was formed in 1993 by way of joint venture with Kokon Beltman Groep B.V. ('KB'), a privately-owned practice based in Rotterdam. Today, the business has 20 professional staff and is one of Aukett's most successful operations in its network of offices, joint ventures and partnerships which, including affiliated firms, covers 12 cities in 9 countries across Europe. The consideration is NLG 2 million (approximately £580,000) to be settled in cash, payable on completion on or before 1 November 1999, funded out of the Company's existing working capital resources. Audited net assets of A+K at 31 December 1998 were NLG 1,086,000 (approximately £315,000). The audited profits before tax for the two years ending 31 December 1997 and 1998 were NLG 737,000 and NLG 594,000, respectively (approximately £214,000 and £172,000). The name of A+K is being changed to Aukett B.V. Recent projects awarded to A+K include new office buildings for: * Nortel (telecoms equipment manufacturer) * Origin (computer software manufacturer) * Parke Davis (a pharmaceutical company, part of Warner Lambert) Other clients include Cisco Systems and Unisys. Commenting, Andrew Lett, Aukett Associates' Managing Director, said: 'Aukett Kokon was one of our first joint ventures outside the United Kingdom and has become a well established practice in the Netherlands. Recent discussions with our joint venture partners, Kokon Beltman, concluded that the business fitted better within our strategy. We are pleased to have concluded these arrangements so swiftly.' He added: 'The transaction is expected to enhance Aukett Associates' earnings per share in the current year to 30 September 2000.' For further information, please contact Aukett Associates PLC Tel: 0171 924 4949 Andrew Lett, Managing Director Robert Warner, Finance Director Binns & Co PR Ltd Tel: 0171 786 9600 Peter Binns / Paul Vann