Statement re: Chorion

RNS Number:5534T
Takeover Panel
22 December 2003

                                                                         2003/27



                                  CHORION PLC
                                  ("CHORION")


                            ENTERTAINMENT RIGHTS PLC
                            ("ENTERTAINMENT RIGHTS")


Following recent representations made by Chorion and its advisers, and
discussions with the parties' advisers, the Panel Executive has ruled that
Entertainment Rights must, by 12 noon on Wednesday, 4 February 2004, either
announce an offer for Chorion under Rule 2.5 of the Code or announce that it
will not proceed with an offer for Chorion.  No extension to this deadline will
be granted, except with the consent of the Panel Executive.  In the event that
Entertainment Rights announces that it will not proceed with an offer for
Chorion it will, except with the consent of the Panel Executive, be bound by the
restrictions contained in Rule 2.8 of the Code for six months from the date of
such announcement.


Each of the parties has accepted this ruling.



22 December 2003


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