Statement re. Press Comment

RNS Number:0400P
C.I. Traders Limited
26 August 2003

For Immediate Release





                              C.I. Traders Limited

                          Announcement - Eldridge Pope







The Board of C.I. Traders Limited ("CIT") , the retail and leisure group based
in the Channel Islands  notes the recent press comments regarding informal
discussions between CIT and Eldridge , Pope & Co p.l.c. ("Eldridge Pope") .



CIT can confirm that at the invitation of  Eldridge  Pope such discussions have
recently taken place with a view to exploring whether acceptable terms could be
agreed upon for a possible offer by CIT  for Eldridge Pope. No such agreement
has to date  been reached and active discussions are  not  at the present time
ongoing.



The Board of CIT is also aware of a tender offer for ordinary shares in Eldridge
Pope launched on 7 August 2003 and which it understands closes on 28 August
2003. The Board of CIT will evaluate the outcome of this tender offer . This
evaluation will form part of the overall commercial determination to be made  by
  the  Board of CIT  in deciding  whether it wishes to make an offer for
Eldridge Pope .



There can be no certainty that an offer from CIT will be forthcoming. A further
announcement will be made if  appropriate .





26 August 2003

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