EVG Evgen Pharma Plc

RNS Number:0370E
Evolution Group PLC
05 June 2006



                            THE EVOLUTION GROUP PLC

                        ACQUISITION OF WILLIAMS DE BROE


The Evolution Group Plc ("Evolution" or the "Group") announces that on 3 June
2006, it entered into and completed an agreement to acquire Williams de Broe Plc
and its sister company, Williams de Broe Administration Limited (together
"Williams de Broe") from Williams de Broe Holdings Limited and ING Belgique S.A.
The transaction has received regulatory approval.


Williams de Broe is a specialist London-based financial services group which
provides corporate advisory, stockbroking and fund management services.


The consideration payable for Williams de Broe will comprise a cash payment of
#15 million which will become due once completion accounts for Williams de Broe
have been prepared. The consideration is subject to a pound for pound adjustment
to the extent that the net assets of Williams de Broe as at 31 May 2006 are
greater or less than #15 million, subject to a maximum consideration of #25
million. The consideration will be met from existing cash resources of
Evolution.


According to the information memorandum for the sale of Williams de Broe, the
business had an unaudited loss for the year ended 31 December 2005 of #3.1
million. Evolution expects the acquisition to be earnings neutral in 2006 and
earnings enhancing in 2007. The information memorandum also showed unaudited
gross assets of Williams de Broe as at 31 December 2005 of #118.4 million, the
majority of which were unaudited trade counterparty debtors of #104.2 million.


The acquisition of Williams de Broe will enable Evolution to expand its client
base and product offering, to extend the Group's UK geographic coverage and to
increase client funds under management.


Martin Gray, Chairman of Evolution, commented: "We are pleased to have concluded
our discussions of the last month. We look forward to working with the staff and
clients of Williams de Broe."


                                  --- ends ---


Enquiries:

The Evolution Group Plc                  020 7071 4300
Alex Snow, Chief Executive
Graeme Dell, Finance Director

Bell Pottinger Corporate & Financial     020 7861 3232
Charles Cook
Sarah Landgrebe

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

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