RNS Number:0912M
Magnum Power PLC
09 June 2003


ANNOUNCEMENT to RNS                                           9  JUNE  2003



                  MAGNUM POWER PLC ("Magnum" or the "Company")


         Approval of Proposals relating to a refinancing of the Company


The Company is pleased to announce that, an Extraordinary General Meeting of the
Company held today, resolutions in connection with the following Proposals were
duly passed:

   *A subscription of, in aggregate, #200,000 for new Ordinary Shares in the
    Company by a group of investors, namely Edward Adams, Nicholas Lebetkin and
    Laurence Selman (" the Investor Group")
   *A waiver by the Panel on Takeovers and Mergers of the obligations on the
    Investor Group under Rule 9 of the City Code
   *A share capital reorganisation
   *Alterations to the Company's Articles of Association
   *A change of the Company's name to RAM Investment Group plc


The resolution approving the waiver of the obligations on the Investor Group
under Rule 9 of the City Code was taken on a Poll (as required by the City Code)


Following the Extraordinary General Meeting a total of 4,000,000 new Ordinary
Shares of 1p each (resulting from the share capital reorganisation) will be
issued and allotted to the Investor Group.


Trading in the new Ordinary Shares will commence on 10 June 2003.


The following table shows the respective individual holdings of Edward Adams,
Nicholas Lebetkin and Laurence Selman following the issue and allotment of the
new Ordinary Shares:

                                                                  Percentage of
                               Number of New                    enlarged issued
                              Ordinary Shares            Ordinary Share Capital
Edward Adams                        1,000,000                               20%
Nicholas Lebetkin                   1,500,000                               30%
Laurence Selman                     1,500,000                               30%
                                   ------------                  ---------------
                                    4,000,000                               80%
                                   ------------                  ---------------



For further information please contact:

Edward Adams                    Magnum Power plc               020 7209 1324
Roland Cornish/ Rod Venables    Beaumont Cornish Limited       020 7628 3396







                      This information is provided by RNS
            The company news service from the London Stock Exchange

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