Circ re reduction in share premium account (Network)

    Network Group Holdings plc                           

                                (the "Company")                                

                Circular re reduction of share premium account                 

Network Group Holdings plc announces that it is today posting a circular to
shareholders containing proposals for a reduction of the Company's share
premium account, and convening a general meeting to consider this proposal at
11.00 am on 17 November 2008.

The circular is available on the Company's website at
www.networkgroupholdings.co.uk

For further information please contact:

Network Group Holdings plc                     01676 525 000                 
Christopher Ross, Chairman                                                   
www.networkgroupholdings.co.uk                                               
                                                                             
Nominated Adviser                              020 7492 4777                 
Dowgate Capital Advisers Limited                                             
Tony Rawlinson                                                               
                                                                             
Broker                                         01293 517 744                 
Dowgate Capital Stockbrokers Limited                                         
Neil Badger                                                                  

END