Harvey Nash Group Regulatory News (HVN)

5 May 2006 08:00

Harvey Nash Group PLC05 May 2006 HARVEY NASH GROUP PLC ("Harvey Nash" or "the Group") Disposal of shareholding in Hong Kong company for £0.5m Harvey Nash is pleased to announce that its subsidiary has agreed to dispose ofits 10 per cent shareholding in the Hong Kong company St Georges Harvey NashLimited ("SGHNL"), for a cash consideration of £0.5m to STG Group ServiceLimited ("STGGSL"). Following the acquisition of the 10 per cent. shareholding in SGHNL from HarveyNash plc, STGGSL will sell the entire issued share capital of SGHNL to HaysInternational Holdings Limited, a subsidiary of Hays Plc, the specialist UKrecruitment group. Commenting on the disposal, Harvey Nash CEO, Albert Ellis, said: "Harvey Nash is focusing its investment in Asia on the core growth opportunitiesin its fast growing outsourcing and offshoring business in Vietnam where it is aleading provider of offshore software development services to its European andUS clients. The Group will also continue to work with strategic partners in theregion to provide executive search services to its international client base." 5 May 2006 ENQUIRIES: Harvey Nash Tel: 020 7333 0033 Albert Ellis, Chief Executive Richard Ashcroft, Finance Director College Hill Tel: 020 7457 2020 Mark Garraway Matthew Gregorowski This information is provided by RNS The company news service from the London Stock Exchange