DMD Diamond Life.

RNS Number:2557G
Chargeurs UK Limited
2 July 2001





  NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES,
                          CANADA, AUSTRALIA OR JAPAN

                    DRUMMOND GROUP PLC - RESULTS OF OFFERS


On 25 May 2001, Chargeurs UK announced Offers for the Ordinary Shares and 5.6%
Preference Shares of Drummond not already owned by Chargeurs UK. The board of
Chargeurs UK is pleased to announce that the condition to each of the Offers
has been satisfied and that each of the Offers are hereby declared
unconditional in all respects. The Independent Directors, being Michael D
Abrahams, Stefan M Simmonds and Brian S Levi, have today resigned from
Drummond.


As at 3.00 p.m. today, the first closing date of the Offers, valid acceptances
had been received by Chargeurs UK in respect of 14,042,354 Ordinary Shares and
222,225 5.6% Preference Shares, representing 83.8 per cent. and 99.7 per cent.
of the shares to which the Ordinary Offer and 5.6% Preference Offer
respectively relate. This includes acceptances in respect of the Drummond
Directors' entire beneficial holdings of 5,609,477 Ordinary Shares and
acceptances in accordance with the irrevocable undertakings received from The
Co-operative Insurance Society Limited, The Investment Company plc and State
Street Nominees Limited, in respect of their aggregate holdings of 160,705
5.6% Preference Shares.


Prior to the commencement of the Offer Period, Chargeurs UK was interested in
47,925,076 Ordinary Shares (representing 74.1 per cent. of the Ordinary Shares
in issue) and 2,050 5.6% Preference Shares (representing 0.9 per cent. of the
5.6% Preference Shares in issue). Taking into account the level of acceptances
of the Offers, Chargeurs UK now owns 61,967,430 Ordinary Shares and 224,275
5.6% Preference Shares, representing 95.8 per cent. and 99.7 per cent. of each
class respectively.


The Ordinary Offer will remain open for acceptances until further notice. If
Chargeurs UK receives acceptances under the Ordinary Offer in respect of 90
per cent. or more of the Ordinary Shares to which the Ordinary Offer relates,
Chargeurs UK will exercise its right pursuant to the provisions of Sections
428 to 430F of the Act to acquire compulsorily the remaining Ordinary Shares
to which the Ordinary Offer relates.


As soon as is practicable, Chargeurs UK intends to despatch compulsory
acquisition notices under Section 429 of the Act to the holders of the 5.6%
Preference Shares who have not yet accepted the 5.6% Preference Offer.


The listings of the Ordinary Shares and 5.6% Preference Shares on AIM will be
cancelled with effect from 8.00 a.m. on 3 July 2001.


Save as disclosed above, neither Chargeurs UK nor any person acting, or deemed
to be acting, in concert with Chargeurs UK, held any Drummond Shares (or
rights over Drummond Shares) prior to the commencement of the Offer Period,
nor has any such person acquired or agreed to acquire any Drummond Shares (or
rights over Drummond Shares) since that time and no acceptances of the Offers
have been received from such person.


Terms used in this announcement, unless the context requires otherwise, have
the same meaning as in the Offer Document dated 11 June 2001.


Enquiries:


Financial adviser to Chargeurs UK Limited:

N M Rothschild & Sons Limited:

David M Forbes /Greg Cant     Telephone: 0113 200 1900


Financial adviser to Drummond Group PLC:

Brown, Shipley & Co. Limited:

Philip Johnson      Telephone: 0161 214 6540


N M Rothschild & Sons Limited, which is regulated in the United Kingdom by The
Securities and Futures Authority Limited, is acting for Chargeurs and
Chargeurs UK and no-one else in connection with the Offers and will not be
responsible to anyone other than Chargeurs and Chargeurs UK for providing the
protections afforded to customers of N M Rothschild & Sons Limited nor for
giving advice in relation to the Offers.


Brown, Shipley & Co. Limited, which is regulated in the United Kingdom by The
Securities and Futures Authority Limited, is acting for Drummond and no-one
else in connection with the Offers and will not be responsible to anyone other
than Drummond for providing the protections afforded to customers of Brown,
Shipley & Co. Limited nor for giving advice in relation to the Offers.

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