MEG Mice Grp.

RNS Number:1439U
Mice Group PLC
30 March 2007





                                 MICE Group Plc

                       Disposal of Leisure Businesses and

                           Property Sale & Leaseback


MICE Group Plc ("MICE") or ("the Group") is pleased to announce that it has
unconditionally agreed to dispose of Grant Leisure Group Limited ("Grant
Leisure"), the holding company for the Group's three non-core leisure
businesses, to Parques Reunidos, S.A.U., one of Europe's leading operators of
leisure parks, for a total consideration of #10.4m payable in cash on
completion. Completion of the transaction is expected to take place in the
coming week.


The disposal of these assets is in line with MICE's strategy to dispose of
non-core businesses that fall outside the Group's focus on experiential
marketing services. The proceeds from this transaction will be used to reduce
the Group's debt. The businesses are being sold on a cash free and debt free
basis.


Grant Leisure is a 100% owned subsidiary of MICE and the leisure businesses
comprise three leading visitor attractions namely Blackpool Zoo, the Aquarium of
the Lakes on the shores of Lake Windermere and The Oceanarium in Bournemouth.


For the year ended 28 February 2006, the Grant Leisure group of companies had
sales of #6.1m, profit before exceptional items, interest and tax of #1.0m,
profit before interest and tax of #0.7m and gross assets of #14.5m.


The Group was advised by Clearwater Corporate Finance LLP.


Property Disposal


In addition, MICE has completed a sale and leaseback agreement on two freehold
properties at Arley near Coventry generating gross proceeds of #7.5m.


The properties subject to the sale and leaseback are occupied by the Group's UK
Division. The transaction involves the sale of a 999 year lease and simultaneous
leaseback of properties by MICE under a 20 year lease.


Both the leisure assets and the properties will be shown as assets held for sale
as at 28 February 2007 resulting in an exceptional non-cash impairment charge of
approximately #4.5m resulting from the difference between cash proceeds and book
value.

Brian Shepherd, Chief Executive of MICE said:

"In the past few years, the Board has initiated a co-ordinated plan of action to
create a more focused and streamlined experiential marketing services group.
The sale of the non-core leisure businesses is another step forward in this 
transformation process. The net proceeds of #17m generated from these two
transactions will help to reduce the Group's debt profile and we are continuing
to explore other avenues to reduce debt still further."


For further information


MICE Group Plc Tel: 0207 647 4150

Brian Shepherd, Group Chief Executive
Alison Leyshon, Group Finance Director


HeadLand Consultancy Tel: 0207 367 5222

Laura Hickman/Tom Gough




Notes to Editors


   *MICE Group Plc is an international marketing services group providing
    experiential marketing solutions for the world's leading brands.


   *The Group comprises 64 companies and employs 1,700 staff at more than 40
    locations worldwide including Europe, the Middle East and North America.


   *MICE listed on the London Stock Exchange in December 1994. Headquartered
    in the UK, it has annual turnover of #180million.


   *The company has specific skills in creative and brand communications;
    sponsorship and event marketing; conferences and exhibitions; training and
    sales promotions; workplace interiors and retail design; leisure
    environments and museums


   *MICE works for non-profit making organisations and governments as well as
    multinational corporations. It provides marketing services for 25 of the
    world's top 100 most valuable brands (as ranked in the Interbrand/ Business
    Week best global brands survey) on a regional, national and increasingly,
    global basis, driving brand leverage and measurable returns on marketing
    investment.


   *For further information visit: www.micegroup.com






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

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