Offer Update

RNS Number:2930Q
Full Circle Investments PLC
21 January 2002

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES,
CANADA, AUSTRALIA OR JAPAN




                  FULL CIRCLE INVESTMENTS PLC ("FULL CIRCLE")

       RECOMMENDED OFFER ("OFFER") FOR CAPITAL BARS PLC ("CAPITAL BARS").


               FINAL CLOSING: OFFER EXTENDED TO 5 FEBRUARY, 2002



By 3.00 p.m. on 21 January, 2002, Full Circle had received acceptances of the
Offer, which are valid in all respects, from the holders of 27,055,590 Capital
Bars Shares representing approximately 80.1 per cent. of the existing issued
share capital of Capital Bars. Of the total number of acceptances, elections for
the Loan Note Alternative have been received in respect of 4,638,461 Capital
Bars Shares representing approximately 13.7 per cent of the issued share capital
of Capital Bars


Taking into account the additional 23.5 million Capital Bars Shares which will
be issued this week under the terms of the 1999 agreement between Capital Bars
and William and Desmond O'Dwyer (the shareholders of Full Circle) and others,
Full Circle and its associates have an interest in approximately 87.3 per cent
of the enlarged share capital of Capital Bars. The enlarged share capital is
before the issue of 2.1 million Capital Bars shares due to be issued following
exercise of options under the Capital Bars Long Term Incentive Plan.


To afford Capital Bars Shareholders a final opportunity to accept the Offer, the
closing date for the Offer has been extended to 3.00pm on 5 February 2002, in
accordance with the Rules of the Takeover Panel. The Offer will not be extended
beyond that date.


Capital Bars has applied to the London Stock Exchange for trading in Capital
Bars Shares to be cancelled and to the UK Listing Authority and to the Irish
Stock Exchange for the Capital Bars Shares to be delisted, such cancellation and
delisting to take effect from 5 February, 2002.

Enquiries:

Ivan Murphy

Davy Corporate Finance Limited                         353 1 679 6363



The directors of Full Circle Investments take responsibility for the contents of
this announcement. To the best of the knowledge and belief of the directors all
of the information contained in this document is in accordance with the facts
and does not omit anything likely to affect the import of such information.


Davy Corporate Finance Limited, which is regulated in Ireland by the Central
Bank of Ireland, is acting exclusively for Full Circle Investments and no-one
else in connection with the Offer and will not be responsible to anyone other
than Full Circle Investments for providing the protection afforded to its
customers nor for providing advice in relation to the Offer.


The Offer is not being made, directly or indirectly, in or into, or by the use
of the mails of, or by any means or instrumentality (including, without
limitation, telephonically or electronically) of interstate or foreign commerce
of, or any facilities of a national securities exchange of, the United States,
or in or into Canada, Australia or Japan and the Offer should not be accepted by
any such use, means, instrumentality or facility or from within the United
States, Canada, Australia or Japan.




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