Acquisition

19 Dec 2008 16:14



ENERGISER INVESTMENTS PLC

("Energiser" or the "Company")

The Company is pleased to announce that it has today completed the acquisition of Gramm Partnership Housing Limited ("GPHL") for a consideration of £5,000.

GPHL is the owner of a substantially completed development of 20 houses in Wellingborough, Northants.

Engeriser intends to complete the development, retaining most of the homes for letting whilst selling others to reduce GPHL's outstanding bank loan to Barclays Bank, which currently stands at approximately £1.35m.

Energiser will be spending approximately £350,000 to complete the development.

The Board anticipates the completed development will be worth approximately £2.75m.

Contacts:

Billam PLC

Nish Malde +44 (0) 1923 713600

Libertas Capital

Sandy Jamieson +44 (0) 207 569 9650