Completion of acquisition

BEALE PLC

("Beale" or the "Company")

Completion of Acquisition

The board of directors of Beale (the "Board") is pleased to announce that, on 22 May 2011, JE Beale plc (the principal trading subsidiary of the Company) ("JEB") completed the acquisition of the trade and assets of 19 of the 23 department stores previously owned and operated by ARCS, a UK regional department store operator and co-operative society, for a total initial consideration of £7.5 million payable wholly in cash (the "Acquisition").

The consideration payable in respect of the Acquisition is being financed entirely by ARCS. Total cash funding from ARCS received on Completion after payment of the initial consideration will amount to £5.8 million, which the Company will receive during the course of today. Further details on the financing arrangements are set out in the Prospectus sent to shareholders on 21 April 2011.

The Company's shares will be cancelled and readmitted to listing on the Official List and to trading on the main list of the London Stock Exchange. This is scheduled to take place at 08:00 BST on Tuesday 24 May 2011.

Further information

Beale PLC

Tony Brown, Chief Executive

Ken Owst, Finance Director

Tel: 01202 552022

Shore Capital (Sponsor and Financial Adviser)

Andrew Raca

Anita Ghanekar

Edward Mansfield

Tel 0207 408 4090