Etam PLC - Offer Uncondt.As to Acceptnce

RNS No 0111r
ETAM PLC
23rd December 1997
   
                                   
  Not for release or distribution in or into the United States of America,
                         Canada, Australia or Japan
                                      
                Etam Developpement SCA ("Etam Developpement")
 Recommended final* cash offer (the "Offer") for Etam Public Limited Company
                                  ("Etam")

                    Offer unconditional as to acceptances

Etam  Developpement announces that the recommended final* cash offer for Etam
has  been declared unconditional as to acceptances and will remain open until
further  notice. The Share Alternative to the Offer will not remain open  for
acceptance  after 3.00pm on 5 January 1998 at which time it will  then  close
unless Etam Developpement agrees to it being extended.

At  3.00pm  on  22  December 1997, valid acceptances of the  Offer  had  been
received  in respect of 58,185,654 Etam Shares representing approximately  88
per cent. of the issued share capital of Etam.  Included in these acceptances
are  acceptances received pursuant to irrevocable undertakings to accept  the
Offer  in  respect of over 31 million Etam Shares, representing approximately
48  per cent. in aggregate of Etam's existing issued share capital.  Included
in  these undertakings is an undertaking from a trust connected with Mr Henry
Lindemann  (a  shareholder  and  member of  the  supervisory  board  of  Etam
Developpement) in respect of 1.4 million shares.

On  12  November  1997  (the  date of the announcement  of  the  Offer)  Etam
Developpement acquired 4 million Etam Shares representing approximately 6 per
cent. of Etam's existing issued share capital.   Etam Developpement therefore
owns  or  has  received acceptances in respect of a total of 62,185,654  Etam
Shares  representing approximately 94 per cent. of the existing issued  share
capital of Etam.

Save as disclosed above, neither Etam Developpement nor any person deemed  to
be  acting in concert with Etam Developpement held any Etam Shares (or rights
over  such  shares) as at 14 October 1997, the day before  the  offer  period
commenced,  or  has otherwise acquired or agreed to acquire Etam  Shares  (or
rights over such shares) since then.

Etam  shareholders who have not yet accepted the Offer should despatch  their
Form of Acceptance as soon as possible.

Enquiries

Schroders        -  Nick Tinworth                 0171 658 6000
                 -  Marc Vincent                  00 331 44 20 65 65
                                                  
Credit Agricole  -  Jean-Marie Soubrier           00 331 41 89 26 62
Indosuez
                 -  Nick Bryan                    0171 971 4313


*     The  Offer is final and will not be increased, save in the event  of  a
competitive situation (as determined by the Panel) arising or otherwise  with
the consent of the Panel.

Schroders and Credit Agricole Indosuez, which are regulated in the UK by  The
Securities  and Futures Authority Limited, are acting for Etam  Developpement
and  no one else in connection with the Offer and will not be responsible  to
anyone  other than Etam Developpement for providing the protections  afforded
to customers of Schroders or Credit Agricole Indosuez or for providing advice
in relation to the Offer.


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