RNS Number:1087S
Swan Hill Group PLC
14 November 2003



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


For immediate release                                          14 November 2003


               Swan Hill Group plc ("Swan Hill" or the "Company")
                                        
      Statement re. level of acceptances by Raven Mount plc ("Raven Mount")


The Board of Swan Hill notes the announcement made by Raven Mount on 13 November
2003 that valid acceptances of the Offer had been received in respect of
30,787,685 Swan Hill shares, representing approximately 51.6 per cent. of the
issued share capital of Swan Hill, and that the Offer has been declared
unconditional as to acceptances.

The Board of Swan Hill is disappointed that Swan Hill shareholders representing
a majority of Swan Hill's issued share capital have accepted the Offer before
the Company has had an opportunity to set out its views on value or to explore
alternative routes that may have delivered greater value and certainty to all of
Swan Hill shareholders than is represented by Raven Mount's Offer.

The Company is seeking further information from the Board of Raven Mount
regarding its plans for the business and the remaining timetable for its Offer.
According to the City Code on Takeovers and Mergers, the Offer must remain open
for acceptance until at least 17 December 2003. A further announcement will be
made in due course.

Press enquiries:

Citigroup                       020 7986 4000
Sam Small
Dimitrios Georgiou

Weber Shandwick Square Mile     020 7067 0700
Terry Garrett
Nick Dibden

Citigroup Global Markets Limited ("Citigroup") is acting for Swan Hill and no
one else in connection with the Offer and will not be responsible to anyone
other than Swan Hill for providing the protections offered to clients of
Citigroup nor for providing advice in relation to the Offer.




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

END
OUPZGMMMVDVGFZM