Acquisition
2007-08-28 00:00:00

28 August 2007

samedaybooks.co.uk plc (“samedaybooks” or “the Company”)

Update on acquisition of certain assets of Countrybookshop and proposed acquisition of AuctionAssist Limited

On the 23 of July the Company announced that it had agreed terms for the acquisition of certain assets of Country Bookshop Limited ("Countrybookshop").

During ensuing discussions between management of both companies, it was mutually agreed that while there are valuable business opportunities for both parties, an acquisition of Countrybookshop would not maximize shareholder value for either company. Therefore the Company will not be proceeding with the acquisition as originally intended and Mr. Siddegowa will not be joining the management team of the Company.

The Company would like to take the opportunity to thank Mr. Siddegowa and all those at Countrybookshop for their time and efforts.

On the 6 of August the Company announced that it had entered into heads of agreement and a period of exclusivity to acquire AuctionAssist Limited (“AuctionAssist”).

Due diligence on AuctionAssist is in progress. As Mr. Charles Denton is a significant shareholder of both samedaybooks (67.5%) and AuctionAssist (15.6%), pursuant to section 320 of the Companies Act 1985, shareholder approval is required before the Company can finalise the acquisition of all the issued shares of AuctionAssist. In addition this will be a related party transaction for the purposes of the AIM Rules. To proceed with the acquisition the Company requires in excess of 50% of shareholders to vote in favour of this resolution. A circular for shareholders is being prepared and will be circulated providing shareholders with further information and confirming the date of the required Extraordinary General Meeting.

The period of exclusivity originally agreed with AuctionAssist was due to expire on 31 August 2007 but this has now been extended to 30 September 2007.

A further announcement will be made in due course.

Enquiries:

samedaybooks.co.uk plc

Andrew Wells

Tel: 01932 460 101

Charles Stanley Securities

Nominated Adviser and Joint Broker

Russell Cook

Carl Holmes

Tel: 020 7149 6000