RNS Number:0106T
Tellings Golden Miller Group PLC
08 December 2003

8 December 2003
                        Tellings Golden Miller Group plc

          Acquisition of Burtons heralds expansion into East Anglia

The Board of Tellings Golden Miller Group plc (the "Group") is pleased to
announce that it has today acquired the remaining 62.7% interest in Burtons
Coaches Limited ("Burtons") it does not already own.  Burtons operates a bus and
coach fleet comprising 42 vehicles, made up of 21 buses which operate local bus
services for Suffolk and Cambridgeshire County Councils and 2 commercial bus
services. The remainder of the fleet is comprised of luxury coaches operating
private hire and tours throughout Great Britain and the rest of Europe. The
Board's intention will be to use the acquisition as a basis for expanding the
Group's bus operations in East Anglia.



In the year ended 31 December 2002 Burtons had turnover of #3,703,419 and made a
loss before tax of #24,933.  Net assets at 31 December 2002 were #270,804.
Following management corrective action, the company has returned to profit in
the current financial year. In the 6 months to 30 June 2003, Burtons made a
pre-tax profit of  #61,759.



Consideration for the 62.7% of Burtons not already owned totals #421,544, split
as to #84,137 in cash with the balance being satisfied by the issue of 219,095
new ordinary shares in the Group (the "Consideration Shares") at an issue price
of 154p each, being the mid market price of an ordinary share in the Group at
the close of business on 5 December 2003.  The vendors, Paul Cooper and Barry
Richardson, have agreed not to dispose of their Consideration Shares for a
period of 1 year and, for a further period of 2 years, they are only permitted
to dispose of an agreed percentage of their holdings.



In addition, Paul Cooper has agreed to subscribe for 48,701 new ordinary shares
in the Group at a price of 154p per share. These shares will be subject to the
same restrictions on sale as are referred to above.



Application is being made to the London Stock Exchange for the admission of the
Consideration Shares and the 48,701 new ordinary shares in the Group being
subscribed for by Paul Cooper to trading on AIM, which is expected to take place
on 12 December 2003.



Paul Cooper will remain as managing director of Burtons. Stephen Telling,
chairman and chief executive of the Group, will also remain as a director of
Burtons.  Bob Hodgetts, finance director of the Group, will strengthen the board
of Burtons as its finance director.



Stephen Telling, chairman and chief executive of the Group said: "We are pleased
to have brought in Burtons as a wholly owned member of the group.  The business
has been acquired on attractive terms and is expected to be earnings enhancing.
The fact that the vendors have agreed to retain their Consideration Shares
reflects their confidence in the long term performance of the enlarged Group".



Enquiries:

Tellings Golden Miller                           Tel: 020 8755 7050
Stephen Telling, Chairman and Chief Executive
Bob Hodgetts, Finance Director

City Financial Associates                        Tel: 020 7090 7800
Tony Rawlinson
James Caithie

College Hill                                     Tel: 020 7457 2020
Gareth David
Crawford Burden




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