Statement re Chelsea Village

RNS Number:9051N
Financial Services Authority
24 July 2003


For immediate release

24 July 2003

FSA statement re shareholdings in Chelsea Village plc

The Financial Services Authority (FSA) today issued the following statement:

        "The FSA is conducting enquiries into the nature and status of certain
        shareholdings in Chelsea Village plc in the period preceding the
        announcement of the bid on behalf of Chelsea Limited. This follows the
        receipt of information from a number of sources suggesting that the
        publicly disclosed shareholdings of certain parties may have been
        inaccurate. The FSA is concerned that as a consequence the market may
        have been misled as to the true ownership of Chelsea Village plc. The
        FSA attaches great importance to the timely and accurate disclosure of
        information to ensure that markets operate in an efficient, orderly and
        clean manner.

        "These enquiries are separate from and in addition to the ongoing
        enquiries into various dealings in the shares of Chelsea Village plc
        ahead of the announcement of the recommended mandatory cash offer on
        behalf of Chelsea Limited.

        "The FSA is making this announcement in view of the widespread public
        interest in Chelsea Village plc. We do not expect that our enquiries
        will affect the offer timetable."


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