RNS Number:7510J
THB Group PLC
08 April 2003

Embargoed until 7am 8 April 2003



THB Group plc ("THB") acquires British Equestrian Insurance Brokers



Further to an announcement dated 20 February 2003, THB Group plc, the niche
insurance broker, today announces that it has completed the acquisition of BEIB
Equestrian Holdings Limited ("BEHL"), which owns British Equestrian Insurance
Brokers Limited ("BEIB").



BEIB is a niche Lloyd's broker, providing specialist insurance products for the
horse, rider and owner, both in the UK and overseas. BEIB has annual turnover of
#2.1 million and employs forty people in two offices in Tonbridge and London.
Acting on behalf of many of the equestrian affinity organisations, as well as
for individuals, BEIB has gained a strong reputation in its class of business.



BEIB also has a 50% interest in a US service company, Equisure Inc, which
provides insurance programmes primarily to equine affinity groups in the USA
and, in particular, to members of the USA Equestrian association.



THB has acquired 100% of the issued share capital of BEHL for an initial
consideration of up to #2.34 million in cash and a further #0.5 million in new
THB ordinary shares, #0.4 million of which is subject to a two-year lock-in. It
is expected that these new THB ordinary shares will be admitted to trading on
the Alternative Investment Market of the London Stock Exchange plc on 11 April
2003.



Additional consideration, not expected to exceed #0.5 million, will be payable
in THB shares on achievement of performance targets for the three financial
years following acquisition. Net assets of BEHL totalled #0.6 million at 30
September 2002 and consolidated pre-tax profits were #0.45 million in the year
then ended.



Vic Thompson, Chairman of THB, commented:

" We are delighted with the addition of BEIB to the THB stable of niche broking
businesses. When we floated THB on the AIM market, we stated our intention to
acquire well-run businesses capable of making a difference in their chosen
niches. We believe that BEIB is an ideal fit with these criteria."



Adrian Pratt, Managing Director of BEHL, said:

" We have been keen to expand our business with the right partner and believe
that this represents an excellent opportunity for all at British Equestrian to
grow with a progressive business that shares similar values to our own. We
anticipate that THB Group will extend BEIB's reach, particularly given their
strong presence in the Lloyd's market. "



Ends.




CONTACTS

Vic Thompson, Chairman, THB Group              01689 883523
Rob Wilkinson, Finance Director, THB Group     01689 883519



Information on THB Group plc



THB Group is a UK based niche insurance broking group. At its core is a Lloyd's
broking business, providing services to clients predominantly in the UK and US.
It acts as a wholesaler to other intermediaries both in the UK and abroad, as
well as providing broking services to a range of retail insurance clients, from
Formula One racing drivers to international corporate clients. The group has a
strong presence in certain niche areas of insurance in the Lloyd's market, such
as motorsport, motor fleet and North American property.



The company completed a successful flotation on the Alternative Investment
Market of the London Stock Exchange on 1 October 2002, raising #6 million,
largely by way of a placing to institutional investors and staff, at a price of
120p per share.



Profit before tax totalled #3.3 million in the year ended 30 April 2002 on
turnover, comprising brokerage and commission, of #15.3 million. The group
reported interim profits for the six months to 31 October 2002 of #1.64 million
before tax on turnover of #10.5 million.



Further information is available on the company's website at www.thbgroup.com.





Information on BEHL



BEHL is the holding company of BEIB and owns 50% of the issued share capital of
Equisure Inc.



BEIB was originally established in 1976 by Lloyd's broker Tennant Budd, becoming
a Lloyd's broker in its own right in 1992. It employs 40 staff and is based in
Tonbridge, Kent.



Equisure Inc. is a service company, providing insurance programmes primarily to
equine affinity groups in the USA. Equisure is based in Denver, Colorado.




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

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