PRSC Pressac

    PRESSAC PLC
                                                 
For immediate release                                                                17 March 2005

                 UPDATE ON DISCUSSIONS WITH PRINCIPAL LENDERS AND STRATEGIC REVIEW
                                                 
Following its trading update announcement on 8 December 2004, Pressac plc ("Pressac") has been  in
discussions  with its principal lenders ("the Principal Lenders") regarding the extension  of  its
credit  facilities  (the "Credit Facilities") which are due to expire on 30 June  2005.   At  this
time,  the  Company  continues  to  make payments in respect of  amounts  owed  under  the  Credit
Facilities  as  they  fall due, but is operating under the terms of a waiver relating  to  certain
covenants under the Credit Facilities.
To  date,  discussions with the Principal Lenders have been constructive and the  Company's  Board
remains  confident  that  an extension of the Credit Facilities will be  agreed  significantly  in
advance  of  expiry on 30 June 2005.  In light of these discussions, and the potential  conditions
which  may  be  required  to secure the ongoing support of the Principal  Lenders,  the  Board  is
currently  undertaking a review of the Group's ongoing strategy including a consideration  of  its
ongoing listing status.
A  further update on the outcome of the discussions with the Principal Lenders will be made in due
course.
                                               ENDS

Enquiries:

Pressac plc                                       
Chris Woodwark,                                   
Chairman and Chief Executive                      Tel: 01332 821 340
                                                  
Jane Aikman,                                      
Group Finance Director                            Tel: 01332 821 340
                                                  
IKON Associates                                   Tel: 01483 535102
Adrian Shaw                                       Mobile: 0797 9900733
                                                  E-mail: adrian@ikonassociates.com


                                                                
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