AWI Award Int

RNS Number:0056X
Award International Holdings PLC
29 March 2004


For immediate release, 7 a.m. Monday, 29 March 2004

                             First Day of Dealings

         #2.25m raised via placing of 22,500,000 Ordinary Shares at 10p

                        New contract win worth #270,000

Award International Holdings PLC ("AIH" or "the Company"), a full service
promotional incentives company that provides merchandise, live events and
travel, has today been admitted to tradingon AIM. A placing at a price of 10p
per ordinary share raised #2.25m for the Company.

Admission Statistics

Admission Price                                                      10p
Number of new Ordinary Shares being placed                    22,500,000
Estimated net proceeds of the Placing to be received by
the company                                                       #1.65m
Percentage of enlarged issued share capital being placed          69.23%
Number of Ordinary Shares in issue at Admission              332,500,000
Market capitalisation at Admission at the Placing Price           #3.25m

New Contract

AIH also announces today that it has recently won a contract from the Football
Association of Ireland ("FAI") worth approximately #270,000. AIH will supply
22,000 football kits including shirts, shorts, socks, sports bottles and
footballs, as well as 1,500 goalkeeper kits to the FAI, all of which will be FAI
and Pepsi branded. These will be used for the annual FAI Summer Soccer School
this year which is being sponsored by Pepsi.

About AIH

AIH is a profitable, full service promotional incentives group with a number of
"blue chip" clients including Pepsi, Britvic, Axa and Buena Vista and an
experienced board. It operates in a diverse and growing market in which there is
potential for expansion and the Company intends to take full advantage of this
opportunity.

Commenting on the flotation, Managing Director, Vic Bussey said: "The cash that
we have raised will be used to improve our working capital position and allow us
to take advantage of the expanding market for promotional incentives. The funds
will also allow us to develop new premiums and promotions, especially bespoke
merchandise. The funds giveus the flexibility to grow the business faster, by
securing larger orders that have previously been beyond our reach and by
expanding our existing customer base and targeting other "blue chip" companies.
This new contract with the FAI is an illustration of the increased flexibility
that we have to undertake these larger contracts."

For further information please contact:

Award International Holdings plc   Tavistock Communications  Seymour Pierce
Vic Bussey, Managing Director      Katy Pratt                Louise Carpenter
Pete Gilbert, Sales &              Lulu Bridges              Tel: 020 7107 8000
Marketing Director                 Tel:  020 7920 3150       
Tony Searles, Finance Director     Email:
Tel: 01843 295555              kpratt@tavistock.co.uk  
www.awardplc.com                

This information is derived from and should be read in conjunction with the full
text of the prospectus dated 16 March 2004

Notes to editors

AIH is a holding company that owns (or will own, immediately after Admission)
two principal trading subsidiaries, Award International Limited ("Award") and
Flexibreaks Travel Service Limited ("Flexibreaks"). The Award Group is engaged
in:

      + *providing its clients with promotionalgoods and services designed to
        increase brand awareness among consumers (currently offered by Award);

      + *corporate hospitality, event management and corporate travel
        (currently offered by Award);

      + *supplying promotional goods and services exclusively in connection
        with travel and holiday accommodation (currently offered by
        Flexibreaks).

AIH announced its intention to float on 1 March 2004

Reasons for the placing

The nature of the paymentterms imposed by customers and suppliers involved in
the merchandise aspect of the business places significant demand on the Group's
working capital resources. Award frequently has to fund the cost of sourcing
merchandise well in advance of recouping costs from clients. The Directors
believe that in the last year, the lack of working capital available to Award
has limited its ability to fulfil its growth potential. The fundraising will
enable the Group to expand as it will be able to accept newclients and larger
contracts. It also intends to pursue a growth strategy primarily involving the
development of existing client networks and also the targeting of other "blue
chip" companies.

The proceeds of the Placing will be utilised as working capital to facilitate
the growth of the Group as outlined above and also to streamline the Group's
supplier base and reduce its cost of sales. It is intended that the Group will
appoint new key staff to achieve this, including a purchasing managerto take
charge of sourcing goods in the Far East.




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

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