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  • Analysts' Briefing

12th December 2007

Mears Group PLC 12 December 2007 Mears Group PLC ("Mears" or "the Company") 12 December 2007 Analysts' Briefing The Company will be holding a briefing for sector analysts at 10.30am this morning at the offices of Investec, 2 Gresham Street, London EC2V 7QP. At the briefing, Bob Holt, David Robertson and Andrew Smith will report that trading for the year ending 31 December 2007 is in line with management's expectations and give a presentation on the Company's activities. They will make reference to two recent additions to the Company's Care Division, namely the acquisitions of Complete Care and Pooks Care Ltd. The Complete Care business operates from offices in the Wirral servicing contracts with Wirral Borough Council and Cheshire County Council as well as private clients. Pooks Care Ltd operates from 7 offices in the Midlands and Home Counties providing care services to 13 Local Authorities, 12 of which are new to Careforce. These 2 acquisitions were acquired from private individuals for a total consideration up to a maximum of 5.9 million in cash payable from existing resources. This comprises initial payments of 4.2 million followed by deferred payments of up to 1.7 million conditional upon the achievement of agreed performance targets over the 18 months following completion. The addition of these 8 branches has increased the volume of hours delivered per week by 10,500 and introduced an additional 410 carers to the Group. The Company is pleased to announce that it intends to appoint Peter Dicks (65) to the Board as Deputy Chairman. Peter has been active in the venture capital and investments fields for a number of years. He is currently a director of several quoted and unquoted companies including Private Equity Investor PLC of which he is Chairman, Polar Capital Technology Trust PLC, Graphite Enterprise Trust PLC and Standard Microsystems Inc., a US NASDAQ quoted company. Peter is beneficially interested in 23,298 ordinary shares in Mears Group PLC. A further announcement relating to Peter's appointment will be made in due course. The Company is also pleased to announce that it intends to appoint David Hosein (43) as a non-executive Director. David is a partner in OC&C Strategy Consultants where he is head of their Services & Technology Practice. He has over 17 years consulting experience, the last five of which have been at OC&C. David has worked extensively in the support services sector for corporate and private equity clients. Previously, he was a partner in Arthur Andersen. David does not hold any shares in Mears Group PLC. A further announcement relating to David's appointment will be made in due course. As is customary, the Company will release its pre-close trading update in early January 2008. Enquiries: Mears Group PLC Bob Holt, Chief Executive 07778 798 816 David Robertson, Finance Director 07887 705 357 Andrew Smith, Executive Director 07712 866 461 Threadneedle Communications Trevor Bass 020 7936 9666 Alex White Nominated adviser to Mears Group PLC Investec Keith Anderson/Michael Ansell 020 7597 5970 This information is provided by RN