RNS Number:1632S
Country & Metropolitan PLC
17 November 2003


              Country & Metropolitan plc ("C&M" or "the Company")


                              Result of Open Offer


Following the closing of the Open Offer, announced on 24 October 2003, at 3.00
p.m. on 14 November 2003, valid applications have been received for 1,434,302
open offer shares.


Certain directors and major shareholders irrevocably undertook to take up all or
part of their respective entitlements under the open offer in respect of 794,211
open offer shares, in aggregate, representing approximately 25.2 per cent. of
the open offer shares.


In addition, certain of the directors and major shareholders irrevocably
undertook not to take up all or part of their respective entitlements under the
open offer in respect of 849,461 open offer shares, in aggregate, representing
approximately 26.9 per cent. of the open offer shares. Accordingly, J M Finn, as
agent for the Company, placed these 849,461 open offer shares firm with
institutional and certain other investors at the issue price and conditionally
placed the remaining 1,512,949 open offer shares (which excludes those which are
the subject of irrevocable undertakings from existing qualifying shareholders to
subscribe for their entitlements under the open offer) with institutional and
certain other investors at the issue price, subject to recall to satisfy valid
applications by qualifying shareholders pursuant to the Open Offer.


Accordingly, the take-up under the Open Offer represents approximately 45.4 per
cent. of the total open offer shares and approximately 62.2 per cent. of the
open offer shares excluding the 849,461 open offer shares which certain of the
directors and major shareholders undertook not to take up.


Application has been made to the UK Listing Authority for the new C&M shares
issued pursuant to the Placing and Open Offer to be admitted to the Official
List and to the London Stock Exchange to trading on its market for listed
securities. It is expected that admission to listing will become effective and
dealings in the new C&M shares on the London Stock Exchange will commence on 19
November 2003.


Enquiries                                                             Telephone

Country & Metropolitan plc                                        01895 824 111
Stephen Wicks

Dawnay Day Corporate Finance Limited                              020 7509 4570
David Floyd
Bruce Garrow

JM Finn & Co.                                                     020 7628 9688
Leslie Kent
Sam Smith

Buchanan Communications Limited                                   020 7466 5000
Mark Edwards
Jeremy Garcia






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

END
ROINKOKBABDDNDD