HICH Hichens Harr.

    For Immediate Release: Thursday 01 November 2007

                          Hichens, Harrison & Co. plc                          

                     ("Hichens Harrison" or "the Company")                     

       Acquisition of ARM Corporate Finance Limited and issue of equity        

Hichens Harrison, the City of London's oldest firm of stockbrokers, is pleased
to announce that it today completed the acquisition of the entire issued share
capital of ARM Corporate Finance Limited (the "Acquisition") for a combined
cash and share consideration.

In reaction to positive indications of future business outlook, Hichens
Harrison has decided to accelerate its intended plan for integration and to
transfer the business operations of the Company's subsidiary Blomfield Street
Securities Limited (BSS) into ARM Corporate Finance Limited (ARM) which has
changed its name to Blomfield Corporate Finance Limited (BCF). Consequently,
BSS has requested that its status as nominated adviser be removed. Two
representatives of Hichens Harrison will join the Board of BCF.

BCF is appointed nominated adviser to 19 AIM-quoted companies (including the
clients of both BCF and BSS) and additionally is a member of the London Stock
Exchange and a UK Listing Authority registered sponsor.

In the 12 months to 30th April 2007 ARM reported profits before tax of �
342,405. As at 30 April 2007 ARM had net assets of �779,945.

The consideration for the Acquisition is 832,192 ordinary shares in the Company
and staged cash payments totalling �1.36 million. The shares have been allotted
fully paid as follows: 777,192 at �3.33 per share and 55,000 at �3.66 per
share. The cash payments are staged as follows: �650,000 on completion,
approximately �450,000, 6 months from the date of completion and �460,000 12
months from the date of completion. The second cash payment has increased by �
200,000 since the announcement made on 08 August 2007 due the increase in ARM's
net asset value. Based on the closing mid market share price of the Company of
277.5p on 31 October 2007 the value of the consideration is �3.87 million.
Application has been made for the 832,192 ordinary shares to be admitted to
trading on AIM and it is expected that such admission will become effective at
8am on 7 November 2007.

Additionally there is an earn out provision whereby additional consideration
will be payable if the business operations of BCF (excluding the business
operations from BSS) achieve profit before tax that exceeds �330,000 for the 12
month period to 30 April 2008. In the event that this level is achieved the
vendors will receive �4 of earn out consideration for each additional �1 of
profit before tax over �330,000 up to a maximum additional payment of �
1,880,000 in respect of profit before tax of �800,000. The earn out
consideration is to be satisfied at the option of Hichens, Harrison either by
the issue of ordinary shares in Hichens, Harrison or by the issue of an agreed
form loan note. In the event that the earn out consideration is satisfied by
the issue of shares they will be issued at the average closing mid market price
for the five business days preceding 30 April 2008. In the event that the earn
out consideration is settled by the issue of a loan note, the terms of the loan
note will be 9 months until redemption, with annual interest at 6% over the
Bank of England Base Rate, and early redemption after 6 months at the option of
Hichens, Harrison.

                                    -Ends-                                     

For further information, please contact:

Hichens, Harrison& Co. plc

Adam Wilson

Tel. 020 7382 4450

Ruegg & Co Ltd

Brett Miller

Tel. 020 7584 3663

Hansard Group

Adam Reynolds / Chris Roberts

Tel. 020 7245 1100



END

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