Water Hall Group Plc
06 September 2007



Further to the Offer of 285p per ordinary share for Premier Asset Management plc
('Premier') from Harvard Bidco Limited ('Harvard') being declared wholly
unconditional on 28 August 2007, the board of Water Hall Group plc 
('Water Hall') has decided reluctantly to accept the Offer for its shareholding 
of 1,187,850 ordinary shares of Premier representing approximately 6.65% of 
Premier's issued ordinary share capital as enlarged following the exercise of 
options over 2,483,252 Premier shares, as detailed in the announcement of 
28 August 2007.



Proceeds from the sale, estimated to be £3,385,372 which are due to be paid on
25 September 2007, will, given that Water Hall has no bank debt, for the time
being be held on deposit.  After costs associated with the share purchases and
related matters, the net profit on the investment in Premier will be in the
region of £650,000.



Water Hall has unrelieved capital tax losses and therefore does not anticipate
capital gains tax being payable on this gain.



Due to the selling broker being unable to provide delivery in respect 133,063
non assented Premier ordinary shares acquired in good faith through the market
by Water Hall on 20 August 2007 (and as announced on 21 August 2007), with the
consent of the Takeover Panel and by agreement with the selling broker, the
board of Water Hall has agreed that the contract relating to these shares should
be cancelled. In addition, delivery is awaited in respect of a further 1,407 non
assented Premier ordinary shares, again acquired through the market in good
faith, and will not therefore be assented to the Offer until delivery is
received.



As a consequence, for reasons outside of the control of the board of Water Hall,
acceptance of the Offer will only be made in respect of 1,187,850 ordinary
shares of Premier.



Water Hall's interim results for 2007 will be announced on Tuesday 25 September
2007.



Commenting on the sale, Raschid Abdullah, Chairman of Water Hall Group plc said:



 'While a significant profit for Water Hall shareholders will be realised on its
investment in Premier, the board was firmly of the view that the Offer failed to
reflect the achievements of Premier's management of the past two years in
particular or the current prospects for that business. However, Harvard has
received sufficient acceptances to enable its Offer to be declared unconditional
and has further stated its intention to cancel Premier's AIM listing. The board
of Water Hall concluded that its shareholders' best interests would now be best
served by accepting the Offer.'



'The board considers Water Hall is in a strong position to seek selective
acquisition and investment opportunities and will keep its shareholders informed
of further progress as appropriate.'





END



Contact:



Raschid Abdullah, Chairman, Water Hall Group plc

Tel: 01483 452 333 / 07768 905 004 (Mobile)



John Wakefield, Director of Corporate Finance, Blue Oar Securities Plc

Tel: 0117 933 0020


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