RNS Number:6466O
London Forfaiting Company PLC
13 August 2003


Not for release, publication or distribution in or into the United States of
America, Australia or Canada


For immediate release 13th August 2003


                 London Forfaiting Company PLC (the "Company")

                          Update on Offer discussions


The Board of the Company notes the announcement by FIMBank, that as at 3.00pm on
12th August 2003 valid acceptances of the Offer had been received from the
holders of, in aggregate, 67,040,410 London Forfaiting Shares representing
approximately 64.0 per cent of the London Forfaiting Shares to which the Offer
relates.


The Board continues to recommend acceptance of the Offer made by FIMBank on 22nd
July 2003. The revised closing date for the Offer from FIMBank is 3.00pm on 19th
August 2003.


In the event that Resurge PLC indicates a firm intention to make an offer for
the Company, the Board will re-assess its recommendation in the prevailing
circumstances.


Shareholders who are in any doubt about the action they should take should
consult immediately their stockbroker, bank manager, solicitor, accountant or
other independent financial advisor authorised under the Financial Services and
Markets Act 2000.


Contacts:


London Forfaiting                                    020 7481 3410
Jack Wilson / Stathis Papoutes

Kinmont                                              020 7493 8488
Gavin Kelly / Fraser Shand

Hogarth Partnership                                  020 7357 9477
Nick Denton / Andrew Jaques


Terms defined in the announcement of the Offer for the Company by FIMBank bear
the same meaning when used in this announcement.


In relation to matters set out herein and all matters related thereto, Kinmont
Limited ("Kinmont") and Intelli Corporate Finance Limited ("ICF"), who are
authorised and regulated in the United Kingdom by the Financial Services
Authority are acting as financial advisors to the company and will not regard
any person other than the Company as their customer or be responsible to anyone
other than the company for providing the protections afforded to customers of
Kinmont and/or ICF, or advice in relation to matters set out herein or the
preparation and distribution of this document and all matters related thereto.




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