Re: Recommended Cash Offer

RNS Number:1290N
Neil List & Mike Backs
03 July 2003


This announcement is not for release, publication or distribution in or into the
                   United States, Canada, Australia or Japan


For immediate release                                                3 July 2003


  In relation to the Recommended Cash Offer from Phoenix Acquisitions Limited
   ("PAL") for the entire issued and to be issued share capital of Chesterton
                        International plc ("the Offer")

Neil List and Mike Backs, formerly the Chief Executive Officer and Chief
Operating Officer of Chesterton International plc ("Chesterton"), note the
announcement by PAL on 27 June 2003, declaring that the Offer for Chesterton has
been declared unconditional in all respects.

In view of PAL's plans to cancel the listing of Chesterton's shares, and
following discussions with the Board of PAL, Messrs. List and Backs now
recommend those shareholders who have not already accepted the Offer to do so,
as they intend to do in respect of their own shareholdings amounting in total to
200,000 Chesterton shares representing 0.24% of the current issued ordinary
share capital of Chesterton.

ENQUIRIES:

Neil List                                                   Tel: [phone]

Numerica Capital Markets Limited                            Tel: [phone]
Shirin Gandhi
James Hannon

College Hill                                                Tel: [phone]
Gareth David
Matthew Gregorowski


This announcement has been approved solely for the purpose of section 21 of the
Financial Services and Markets Act 2000 by Numerica Capital Markets Limited of
66 Wigmore Street, London W1U 2HQ. Numerica Capital Markets Limited is acting
exclusively for Neil List and Mike Backs, as directors of the Company, and no
one else in connection with the Offer and will not be responsible to anyone
other than Neil List and Mike Backs for providing the protections afforded to
customers of Numerica Capital Markets Limited or for providing advice in
relation to the Offer or any other matter referred to in this announcement.

This announcement does not constitute, or form part of, an offer or invitation
to purchase any securities.

Neil List and Mike Backs accept responsibility for the information contained in
this announcement. To the best of the knowledge and belief of Neil List and Mike
Backs (who have taken all reasonable care to ensure that such is the case) the
information contained in this announcement is in accordance with the facts and
does not omit anything likely to affect the import of such information.



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

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