IGR Ig Design Group Plc

RNS Number:8171H
International Greetings PLC
26 January 2005


International Greetings purchases business of Napier Industries

International Greetings plc ("International Greetings"), the leading designer
and manufacturer of private label greetings products and licensed stationery,
announced today that it has agreed to acquire, from the receivers of Napier
Industries Limited ("Napier"), the business, goodwill, stock and debtors of
Napier.

Napier manufactures the well known "Tom Smith" brand of Christmas crackers, and
also supplies many of the UK's supermarket groups with own label products.

The consideration for the acquisition is approximately #4.8 million, payable in
cash, and is being satisfied from International Greetings' own resources.
Unaudited management accounts of Napier for the eleven months to 30 November
2004 show turnover of #13.0m and an operating profit of #1.2m. The book value of
the assets now being acquired is approximately #3.7m.

International Greetings believe that the acquired business will be an excellent
fit with its own cracker operations, which were recently expanded with the
acquisition of Krakajack. Due to the seasonality of the business, it is
anticipated that Napier will make a small loss from the date of acquisition to
31 March 2005, but will make a positive contribution to profits in future years.

Commenting on the acquisition Nick Fisher, joint chief executive of
International Greetings, said:

"This deal met all our acquisition criteria, enhances our business in this
specific area and reinforces our position as the key consolidator within our
industry."

For further information, please contact:

Tavistock Communications                            020 7920 3150
Richard Sunderland

Arden Partners Limited                              0121 423 8960
Graeme Cull

End
January 26th, 2005


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

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