Conclusion of the Middle East Investigation

19th February 2016

Sweett Group plc

("Sweett Group", the "Company" or the "Group")

Conclusion of the Middle East Investigation

Sweett Group plc (AIM CSG.L), the construction and property consultancy, announces that it has been sentenced today, with a confiscation of £851,152 and a fine of £1.4 million by Southwark Crown Court. The confiscation is to be paid within three months; 50% of the fine is to be paid by February 2017, with the remaining sum paid by February 2018. The Company has also been instructed to pay £95,000 to cover the prosecution's legal costs.

This is following the Company's admission of guilt on 02 December 2015 to Section 7(1) of the UK Bribery Act 2010 (failing to prevent an associated person from bribing another to attract or retain business for the Company).

As previously disclosed, this was regarding two related contracts within the Middle East entered into in 2013, identified by the Group, and reported to the SFO. Section 7(1) of the UK Bribery Act 2010 does not attract mandatory debarment from public sector tendering under EU/UK law.

Douglas McCormick, CEO of Sweett Group said:

"Sweett Group's Middle East legacy issue is closed and this marks an important step in the delivery of the Company's new strategy.

"Over the last year, the Company has been transformed with the appointment of a new leadership team, which has successfully addressed key issues facing the business. The Group has delivered on a number of strategic objectives including the sale of the APAC and India business, resolution of the SFO investigation, withdrawal from the Middle East market and the re-organisation of the business into five regions.

"We have strengthened our internal systems, controls and risk procedures, and refined our strategy, focusing on profitability and cash flow. We are excited by the opportunities we see ahead in our core markets the UK, Europe and North America, and we look to the future with confidence."

End

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