SPHE Spearhead

RNS Number:1566Y
Takeover Panel
09 February 2006

                                                                          2006/3



                                PARITY GROUP PLC

                                   ("PARITY")



                               SPEARHEAD LTD INC

                                 ("SPEARHEAD")

Following recent representations made by the advisers to Parity, the Panel
Executive has been considering the application of Rule 2.4(b) of the Code to the
approach by Spearhead to Parity.  Following discussions with both parties'
advisers, the Panel Executive has ruled that Spearhead must, by 12.00 noon on 3
March 2006, either announce a firm intention to make an offer for Parity under
Rule 2.5 of the Code or announce that it does not intend to make an offer for
Parity.  No extension to this deadline will be granted, except with the consent
of the Panel Executive.  In the event that Spearhead announces that it does not
intend to make an offer for Parity, Spearhead and any person acting in concert
with it will, except with the consent of the Panel Executive, be bound by the
restrictions contained in Rule 2.8 of the Code for six months from the date of
such announcement.

Each of the parties has accepted this ruling.



9 February 2006


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