RNS Number:8636R
Honeygrove Group PLC
10 November 2003



                              Honeygrove Group plc
                        ('Honeygrove' or 'the Company')

                  Result of EGM and Completion of Fundraising

Honeygrove held its Extraordinary General Meeting today and all the resolutions
proposed were passed.

The Board is now able to complete its #3,000,000 fund raising through the
placing of 30,000,000 new Ordinary Shares at 10p per share. The money raised
will provide the Company with the flexibility to fund the entire or a
substantial part of one of its key development projects, the prime 68 acre
Swaylands estate in Penshurst, Kent.

Chris Johnson CEO of Honeygrove said: "The completion of the fundraising marks
another exciting step in the development of the Honeygrove Group. The potential
of the Swaylands project and our ability to capitalise on it has been recognised
by investors. We feel we have the opportunity to fully utilise the skills of the
Group and prove to our investors that we have an exciting future."

The 30,000,000 new ordinary shares are expected to be admitted to AIM on 11
November 2003.



Contacts:

Chris Johnson   Honeygrove Group Plc                 Tel: 01732 743 393

Hugo de Salis   St Bride's Media & Financial         Tel: 020 7242 4477

Or visit Honeygrove Group's website: www.pphweb.co.uk






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

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