Notification of Claim relating to the sale of APAC

8 March 2016

Sweett Group plc

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

Notification of Claim relating to the sale of Asia Pacific and India businesses

Sweett Group (AIM:CSG.L), the provider of professional services for the construction and management of building and infrastructure projects, announced on 21 October 2015 the sale of its APAC and India businesses (the "Sold Businesses") to Currie & Brown Holdings Limited ("Currie & Brown"), the asset management and construction consultancy, for a total cash consideration of £9.3 million before transaction and separation costs of approximately £1.3 million (the "Sale").

Under the terms of the Sale, the consideration paid on completion was subject to adjustment in certain circumstances, including potential adjustment if the net asset value of the Sold Businesses as at 31 October 2015 was less than £9.3 million. Currie & Brown was required to prepare draft completion accounts as part of the process of determining whether any adjustment would fall to be made and, having done so, has notified the Company that it believes an adjustment of £1.8 million falls to be made in its favour.

The Company has reviewed the draft non-statutory accounts produced by Currie & Brown. Whilst it believes, and is advised, that an adjustment of approximately £540,000, the key driver being exchange rate movements, could be made in favour of the purchaser, it disputes a number of matters, including the treatment of client balances, in particular in China, the accounting policies and practices adopted by Currie & Brown and its interpretation of the Sale documents.

The Sale documents provide that in the event that the parties are unable to agree on any post-completion matters, those in dispute are to be referred for expert determination. As the Company is unable to agree Currie & Brown's figures and interpretations, the parties accept that the matters in dispute should be referred for expert determination and are seeking to agree a mutually acceptable independent firm of internationally recognised chartered accountants to undertake the expert's role.

The Company will provide further updates as appropriate.

Ends

For further information, call:

Sweett Group plc: +44 (0)20 7061 9000

Douglas McCormick

Patrick Sinclair

Stockdale Securities Limited: +44 (0)20 7601 6100

Tom Griffiths

Camarco: +44 (0)20 3757 4980

Billy Clegg

Georgia Mann

About Sweett Group

Sweett Group is a provider of professional services for the construction and management of building and infrastructure projects. We offer cost consulting and project management services supporting clients through every stage of the project life cycle based upon our international expertise and local knowledge.

Our strength is our people's world-class talent through which, we have time and again, delivered exceptional results. A modern, progressive company, Sweett Group sets itself apart through people, culture and aptitude to change. By collaborative practices and innovative thinking - supported at all levels - our clients receive an offering that is constantly evolving and improving in response to project needs.

www.sweettgroup.com