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I was perusing this forum and found this thread so I thought I'd bump it. I actually bought that bike for £40 on the 1st October and bought some Schwalbe City Jets and some new brake blocks for it. I serviced everything and it really was all original, as was stated. The Muddyfox tyres would have blown out the sidewalls with any real pressure. It is a lovely bike to ride and intend to do my mile commute on it during the summer. I currently commute on my GT Outpost with Wald basket and mudguards.
Looks good and a good price too. These frames ride really nicely and deserve an upgrade to Full Mountain LX as the Exage County is a bit of a let down as are the hubs (I think these are cheapo joytech with 7 speed freewheel and long unsupported axle prone to snapping) and freewheel. I had one of these with full LX which wasn't in as good condition as yours but the geometry was spot on.