CALA Capital & Regional Plc

RNS No 0714j
CALA PLC
1 June 1999

                                  CASH OFFER
                                       
                         on behalf of Miller 1999 plc
                                       
                                 for CALA plc

Miller  1999  plc  ('Miller')  notes  weekend  press  comment  regarding   the
possibility of an offer in excess of 200p per share being made by or on behalf
of  institutional shareholders in CALA plc ('CALA') in order  to  counter  the
effect  which  any  matching  offer of 200p  per  share  by  Dotterel  Limited
('Dotterel')  (the  MBO vehicle of CALA executive management)  would  have  in
frustrating the possibility of Miller making a higher offer.

Such  a response from institutional shareholders would be consistent with  the
overwhelming   support   which  Miller  received  from   major   institutional
shareholders  for the objectives of its unsuccessful appeal  to  the  Takeover
Panel  to  allow  Miller to increase its offer to up  to  210p  per  share  if
Dotterel made a matching offer.  Miller would welcome such a move in order  to
break the deadlock which may well be created as a result of two equal bids.

As a consequence, Miller wishes to advise CALA shareholders that, in the event
that an offer in excess of 200p and up to and including 209p per CALA ordinary
share  is  announced by Dotterel or another offeror, Miller will increase  its
offer to 210p per CALA ordinary share.

Given  the reports of the possibility of an offer in excess of 200p per  share
being announced by or on behalf of institutional shareholders, Miller strongly
encourages  CALA shareholders to take no action in the meantime in respect  of
any 200p offer from Dotterel.

CALA  shareholders should be aware that Miller has now advised the Independent
Directors of CALA that Miller's offer will be conditional only upon receipt of
acceptances  which,  together with shares already owned by  Miller,  represent
over  50%  of  CALA's ordinary share capital (ie all other conditions  of  the
offer will be waived).

CALA  shareholders should also be aware that, in Miller's view, a  200p  offer
from  Dotterel  is  not  in  the  best interests  of  CALA  shareholders.   In
particular:

-   in the  absence of a higher offer from a third party, it would not  enable
    Miller to increase its offer to 210p;

-   it  would  create  a  real  prospect of  stalemate  with  neither  offeror
    achieving its acceptance condition and both offers being forced to  lapse.
    There is then the risk that the CALA share price would fall back to nearer
    107.5p, being  the price  of a CALA  ordinary share  on 12 March 1999 (the
    last business day prior to the announcement of proposals for a management 
    buy-out of CALA) ;

-   it adds nothing that the Miller 200p offer is not already offering;

-   given that Dotterel's  reported gearing  at its previously announced offer
    level  of  190p per share  was some 2,272%, it  is  difficult to see how a
    Dotterel offer  at  200p per  share would create enhanced career prospects
    for  CALA  employees  or lead  to employment  opportunities  arising  from
    further  growth by   acquisition, compared  with the  prospects of joining
    Miller which, after the acquisition  of  CALA,  would  be the UK's largest
    private  housebuilder  headquartered in Scotland.

Miller  will  be posting its offer document to CALA shareholders  shortly  and
will make a further announcement in due course.


Enquiries:
Steve   Jacobs/Nicola  Marsden,  Financial Dynamics  Tel: 0171 831 3113
(PR advisers to Miller)

Deloitte  &  Touche  Corporate Finance is a division  of  Deloitte  &  Touche.
Deloitte & Touche of Stonecutter Court, 1 Stonecutter Street, London, EC4A 4TR
is  authorised by the Institute of Chartered Accountants in England and  Wales
to  carry on investment business.  Charterhouse Securities is regulated in the
UK  by  The  Securities  and  Futures Authority Limited.   Deloitte  &  Touche
Corporate  Finance and Charterhouse Securities are acting for Miller  and  its
parent  company, The Miller Group Limited, and no one else in connection  with
the  Offer,  and will not be responsible to anyone other than Miller  and  The
Miller  Group  Limited for providing the protections afforded to customers  of
Deloitte  &  Touche  Corporate  Finance and  Charterhouse  Securities  or  for
providing advice in relation to the Offer.

The  directors of The Miller Group Limited (James Miller, Keith  Miller,  John
Richards, Robert Clarke, Philip Miller, Geoffrey Potton, Hew Balfour,  Malcolm
Gourlay  and John Mather) accept responsibility for the information  contained
in  this  announcement.   To  the best of the  knowledge  and  belief  of  the
directors of The Miller Group Limited (who have taken all reasonable  care  to
ensure  that such is the case), the information contained in this announcement
is  in  accordance with the facts and does not omit anything likely to  affect
the import of such information.

Deloitte  & Touche Corporate Finance and Charterhouse Securities have approved
this  announcement as an investment advertisement solely for  the  purpose  of
Section 57 of the Financial Services Act 1986.

END

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