Arnotts plc

Wednesday, 29 January 2003




Panel Announcement


 Arnotts plc (“Arnotts”) / Carrgran Limited (“Carrgran”)

 Following a request from Carrgran which was supported by the Board of Arnotts, the Panel consented on 17 January, 2003 to an extension of the deadline within which Carrgran was required to issue an announcement of a firm intention to make an offer for Arnotts or an announcement that it does not intend to make an offer in respect of Arnotts until 31 January, 2003. 

Following a request from the independent committee of the board of Arnotts to remove the 31 January deadline and having regard to the recent developments as outlined in the Arnotts announcement released earlier today, the Panel is of the view that the aforementioned deadline is no longer appropriate and should therefore no longer apply.

29 January, 2003