RNS Number:7587N
SWP Group PLC
21 July 2003


                                 SWP GROUP PLC


ISSUE OF EQUITY


SWP Group Plc ("the Company") announces that following the conversion of some
convertible loan stock, it has issued a total of 7,878,400 new ordinary shares
of 2 pence each. These shares will rank pari passu with all other ordinary
shares now in issue. Application for these shares to be admitted to trading on
AIM has been made and admission is expected to occur on 25 July 2003.


Following admission, the enlarged issued share capital of the Company will be
341,319,028 ordinary shares of 2p each.







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