RNS Number:4905Q
Marchpole Holdings PLC
03 October 2003


Embargoed until 8.00 am                                           3 October 2003


                     Marchpole Holdings plc (the "Company")

                              Capital reduction


On 1 September 2003 Marchpole Holdings plc announced that shareholders had
approved at an EGM of the same date a proposed reduction of share capital of the
Company and of amounts standing to the Company's share premium account in order
to eliminate in full the deficit on the Company's profit and loss account as at
31 March 2003. This process has been undertaken as part of the Board's
commitment to return to the payment of a dividend at the earliest practicable
opportunity.

The proposed reduction of share capital and amounts standing to the Company's
share premium account remain conditional on the approval of the High Court.  The
proposed reduction, if approved by the High Court, will comprise a reduction of
#22,696,368.11 by means of the cancellation of the entire class of 2,269,636,811
deferred shares of 1p each and the reduction of amounts standing to the
Company's share premium account by #14,070,000.  The number of ordinary shares
in issue and the amount paid up on each such share will not be affected by the
proposed reduction.

A hearing date at which the High Court will consider the proposed reduction has
been set for 15 October 2003.  If approved, the capital reduction is expected to
become effective shortly thereafter in October. A further announcement will be
made after the hearing.


Enquiries:

Marchpole Holdings
Justin Hampshire                                      020 7908 7777

Shore Capital
Simon Edwards                                         020 7408 4090


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