RNS Number:4347N
Soldier Limited
10 July 2003

Not for release, publication or distribution in, into or from the United States,
Canada, Australia or Japan

                                    Offer by

KPMG Corporate Finance

                                  on behalf of

                          Soldier Limited ("Soldier")

                                      for

                            Hamleys plc ("Hamleys")



        First closing date - level of acceptances and extension of Offer

The board of Soldier announces that the Offer to acquire the entire issued and
to be issued ordinary share capital of Hamleys not otherwise acquired or
contracted to be acquired by Soldier has been extended and remains open for
acceptance until 3.00 p.m. on 25 July 2003. Since the posting of the Original
Offer Document, Soldier has announced that the Offer will be revised and
increased. The Revised Increased Offer announced on 3 July 2003 will be kept
open for at least 14 days following the date on which the Revised Increased
Offer Document is posted to Hamleys Shareholders.

As at 3.00 p.m. on 10 July 2003, valid acceptances of the Original Offer had
been received in respect of, in aggregate, 556,031 Hamleys Shares, representing
approximately 2.4 per cent. of the entire existing issued ordinary share capital
of Hamleys. This total includes valid acceptances received from certain
Independent Directors in respect of 53,000 Hamleys Shares, representing
approximately 0.2 per cent. of the entire existing issued ordinary share capital
of Hamleys.

Further to the announcement of the Revised Increased Offer, A Holding S.A., a
subsidiary of Baugur and a party acting in concert with Soldier, purchased
2,531,264 Hamleys Shares, representing approximately 11.0 per cent. of the
entire existing issued ordinary share capital of Hamleys, at a price of 254
pence per Hamleys Share. On 7 July 2003, A Holding S.A. purchased a further
25,000 Hamleys Shares, representing approximately 0.1 per cent. of the entire
existing issued ordinary share capital of Hamleys, at a price of 254 pence per
Hamleys Share.

Soldier has received irrevocable undertakings to accept (or to take steps within
the undertaker's power to cause acceptance of) the Revised Increased Offer from
certain Hamleys Shareholders in respect of, in aggregate, 2,845,175 Hamleys
Shares, representing approximately 12.3 per cent. of the entire existing issued
ordinary share capital of Hamleys. Of these, irrevocable undertakings in respect
of 1,752,175 Hamleys Shares will cease to be binding in the event that a higher
competing offer is made which, including any future dividend paid by Hamleys, is
equal to or greater than 267 pence in cash per Hamleys Share.  Irrevocable
undertakings in respect of 1,093,000 Hamleys Shares will cease to be binding in
the event that any higher competing offer is made.

Soldier has also received irrevocable undertakings to accept (or to take steps
within the undertaker's power to cause acceptance of) the Revised Increased
Offer from each of the Independent Directors in respect of their entire
beneficial holdings of Hamleys Shares comprising, in aggregate, 62,250 Hamleys
Shares, representing approximately 0.3 per cent. of the entire existing issued
ordinary share capital of Hamleys (acceptances in respect of 53,000 of these
shares have already been received, as described above). These irrevocable
undertakings will lapse only in the event of the Revised Increased Offer lapsing
or being withdrawn.

In addition, by virtue of the Hamleys Management Share Exchange Agreement (which
was amended by a supplemental agreement dated 27 June 2003), Soldier has
conditionally contracted to acquire, in aggregate, 36,585 Hamleys Shares from
Hamleys Management, representing approximately 0.2 per cent. of Hamleys' entire
existing issued ordinary share capital, together with a further 439,741 Hamleys
Shares upon exercise of certain options held under the Hamleys plc Unapproved
Executive Share Option Scheme.

Accordingly, as at 3.00 p.m. on 10 July 2003, Soldier and its concert parties
have acquired or conditionally contracted to acquire, or have received
acceptances of, or undertakings to accept (or to take steps within the
undertaker's power to cause acceptance of) the Revised Increased Offer in
respect of, in aggregate, 6,003,305 Hamleys Shares currently in issue,
representing approximately 26.0 per cent. of Hamleys' entire existing issued
ordinary share capital. In addition, Soldier has conditionally contracted to
acquire 439,741 Hamleys Shares upon exercise of certain options under the
Hamleys plc Unapproved Executive Share Option Scheme.

Prior to the Offer Period, Hamleys Management held an interest in 36,585 Hamleys
Shares, representing approximately 0.2 per cent. of the entire existing issued
ordinary share capital of Hamleys. In addition, prior to the Offer period, the
Hamleys Management held options to subscribe for, in aggregate, a maximum of
515,819 Hamleys Shares under the Hamleys Share Schemes.

The Revised Increased Offer Document and Revised Form of Acceptance will be
dispatched to Hamleys Shareholders and (for information only) to participants in
the Hamleys Share Schemes as soon as is practicable.

Words and expressions defined in the Original Offer Document dated 19 June 2003
and set out in the Revised Increased Offer announcement dated 3 July 2003 shall
apply for the purposes of this announcement.


Enquiries:
Gavin Anderson & Company                                     Tel: 020 7554 1400
Neil Bennett
Halldor Larusson


Soldier                                                      Tel: 020 7479 7313
John Watkinson

KPMG Corporate Finance                                       Tel: 020 7311 1000
David McCorquodale
Michael McDonagh



This announcement does not constitute an offer or an invitation to purchase or
subscribe for any securities.

KPMG Corporate Finance, a division of KPMG LLP which is authorised in the United
Kingdom by the Financial Services Authority for investment business activities,
is acting exclusively for Soldier as financial adviser in relation to the Offer
and is not acting for any other person in relation to such Offer.  KPMG
Corporate Finance will not be responsible to anyone other than Soldier for
providing the protections afforded to its clients or for providing advice in
relation to the contents of this announcement or any transaction or arrangement
referred to herein.


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