Enfranchisement of Shares

Bulgin PLC 15 February 2000 Bulgin PLC ('the Company') Publication of proposals for the enfranchisement of The 'A' Non-Voting Ordinary Shares of 5p each Further to the announcement on 27 January 2000, Bulgin PLC has published a circular, which is being sent to shareholders, containing proposals for the enfranchisement of its 'A' Non-Voting Ordinary Shares of 5p each ('A' Ordinary Shares). The proposals are for the 'A' Ordinary Shares to be converted into voting Ordinary Shares of 5p each ('Ordinary Shares') ranking pari passu with the existing Ordinary Shares and for a scrip issue to be made to the existing Ordinary Shareholders on the register as at Thursday 6 April 2000 on the basis of 8 new Ordinary Shares for each Ordinary Share then held. The proposals are in accordance with advice received from Beaumont Cornish Limited. Mr J A D Skailes, a Non-Executive Director of Bulgin PLC, as a consequence of being a trustee of the A F Bulgin Settlements which hold more than 10% of the Ordinary Shares, is deemed to be a substantial shareholder for the purposes of these enfranchisement proposals and consequently interested in them. He is therefore abstaining from the recommendation. The Directors of the Company (excluding Mr J A D Skailes for the reason set out above), having consulted the Company's Nominated Adviser, Teather and Greenwood Limited and who have been advised by Beaumont Cornish Limited, consider that the terms of the enfranchisement proposals are fair and reasonable so far as the shareholders of the Company are concerned. An Extraordinary General Meeting of the Company and Separate Class Meetings of the holders of the 'A' Ordinary Shares and the Ordinary Shares will be held on Thursday 16 March 2000 to consider the Resolutions necessary to effect the enfranchisement proposals. For further information please contact: Brian Emerson Bulgin PLC, Chief Executive 0181 594 5588 Roland Cornish Beaumont Cornish Limited 0171 628 3396 Richard Thompson Teather and Greenwood Limited 0171 426 9073 Hamish McFall / Ana Nogales Tavistock Communications Limited 0171 600 2288 Further copies of the circular are available from the Company's registered office at Bypass Road, Barking, Essex, IC11 0AZ for the period of 14 days from the date hereof.