MFG Miller Fisher

RNS Number:1963D
Miller Fisher Group PLC
8 May 2001


For immediate release                                                8 May 2001




                           Miller Fisher Group plc

   announces completion of sale of insurance subsidiary Homecare (Holdings)
                                   Limited

The Board of Miller Fisher Group plc ("Miller Fisher"), the provider of
support services to the insurance and financial services industries, is
pleased to announce that all conditions to the contract for the sale of its
wholly owned subsidiary Homecare (Holdings) Limited ("Homecare") to CPP
Holdings Limited ("CPP") have now been satisfied and accordingly the
transaction has been completed.

Homecare is the parent company of Homecare Insurance Limited ("Homecare
Insurance"), an authorised insurance company which specialises in providing
theft and accidental damage insurance for mobile telephones and other
electrical products. Homecare Insurance also provides extended warranty
insurance.

The initial consideration of #2.2 million in cash has been received by Miller
Fisher. This amount will be increased or decreased by reference to the
consolidated net asset value (as adjusted) of Homecare and Homecare Insurance
as at 30 April 2001. In addition, CPP has repaid Homecare's bank debt of #2.25
million.


Commenting on the sale, Kevin Kenny, Chief Executive of Miller Fisher said:

"This disposal reflects Miller Fisher's intention to concentrate on its core
activities of third party administration and loss adjusting. We strongly
believe that the sale of Homecare demonstrates our commitment to reorganise
our group to maximise shareholder value. The proceeds from the sale will
reduce the Group's borrowings, helping to provide a strong foundation for
future developments."

For further information please contact:


Miller Fisher                                                     020 7398 8700
Kevin Kenny
Richard Horton

Grandfield                                         020 7417 4170 / 07961 433041
Clare Abbot
Kirsty Black

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