Placing, Dealings and Update

RNS Number:0110W
Griffin Group PLC
02 March 2004


FOR IMMEDIATE RELEASE 2 March 2004

                               Griffin Group plc
                       ("Griffin Group" or "the Company")

                                 Share placing
Director's dealings
                                 Trading update


The Board of Griffin Group is pleased to announce that it has today placed
6,000,000 new ordinary shares of 5p each ("New Ordinary Shares") with clients of
Seymour Pierce Ellis at a price of 5p each.

The Company also announces that it was informed today that Global Investments,
in which Stephen Dean, Director, has a beneficial interest, sold 5,300,000
ordinary shares of 5p each at a price of 3p each to the same clients. Following
the sale, and the increase in share capital, Global Investments' interest will
change to 3,500,000 ordinary shares or 8% of the issued and to be issued share
capital.

Application has been made for the New Ordinary Shares issued pursuant to the
placing to be admitted to trading on the Alternative Investment market of the
London Stock Exchange. The New Ordinary Shares will rank pari passu with all
existing ordinary shares and dealings are expected to commence on March 5 2004.

The funds which, net of expenses, amount to #289,500 will be used to expand the
New York Office. The Company plan to recruit additional brokers and research
analysts.

In the first 5 months of this financial year the fee income of Griffin Group has
already exceeded that of the whole of the previous year. In January and
February, for example, the Company received fees in both cash and warrants for
several equity fundraisings for clients.

The Company also announces thatits UK subsidiary Griffin Securities UK Ltd
moved to new premises at 80 Cannon Street London EC3.

Stephen Dean, Non-Executive Chairman reported"I am very pleased with Griffin
Group's progress this year to date and believe this funding can help further
strengthen the Company's prospects in the current market conditions"




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

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