Woburn Ventures Limited
19 July 2007



The Waterline Group plc (the 'Company') - Potential offer

Woburn Ventures Limited ('Woburn'), a company incorporated and wholly owned by
Michael Lawrence, Steven Steel and Tim Hutchinson (together the 'Waterline
Management Team'), notes the announcement released earlier today, 19 July 2007
by the independent members of the Waterline Board, namely Peter Dicks and David
Rodgers (the 'Independent Directors').

The Waterline Management Team believes that the following additional information
regarding its approach to the Independent Directors should be drawn to the
attention of the Company's shareholders:

a) Woburn has indicated to the Independent Directors that any offer for the
Company by Woburn, if made, would be at a price of 65p per Company share.

b)  The Waterline Management Team between them are interested in approximately
63% of the issued share capital of the Company. Accordingly, any offer for the
issued share capital of Company by any third party would require the acceptance
of the Waterline Management Team in order to be successful.

Woburn and the Waterline Management Team will continue to work towards
formalising its proposals and will seek a recommendation of any firm offer it
may make from the Independent Directors. However, at this stage, there is no
certainty that an offer will be made.

Woburn will make a further announcement in due course.


Contact:

Woburn Ventures Limited
Michael Lawrence
Telephone                                  07936 101131

City Financial Associates Limited
Ross Andrews
Telephone                                  020 7090 7800


City Financial Associates Limited, which is authorised and regulated in the
United Kingdom by the Financial Services Authority, is acting for Woburn and no
other person in connection with the matters referred to in this announcement.
City Financial Associates Limited will not be responsible to anyone other than
Woburn for providing the protections afforded to its customers, or for providing
advice in relation to the matters referred to in this announcement.



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