Update on Strategic Review

RNS Number:6681Q
Erinaceous Group PLC
25 March 2008



Erinaceous Group Plc
("Erinaceous" or "the Group")


Update on Strategic Review


Following the announcement of 14 January 2008, the Board wishes to update
shareholders with regard to progress made with the on-going strategic review
which is investigating a range of options to reduce the Group's unsustainable
debt levels.


The Group's banks have committed to provide on-going funding to the Group and
the Board is in the advanced stages of a plan to achieve a solvent financial
solution for the Group. As part of this plan, the Board also continues to review
whether a sale of Erinaceous Insurance Services would be in the best interests
of the Group.


As indicated in previous announcements, the Board has concluded that it is
highly unlikely that any value can be attributed to the Group's existing
ordinary shares, regardless of whether the plan is successful or not.


Further announcements will be made in due course.


25 March 2008


Ends


Enquiries


College Hill


+44 (0)20 7457 2020


Mark Garraway


Anthony Parker


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

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