IWP Offer Talks Terminated

RNS Number:0119Q
NCB Stockbrokers
22 September 2003


22 September 2003



              TERMINATION OF OFFER TALKS FOR IWP INTERNATIONAL PLC


Mr Bernard Byrne and his consortium note with disappointment the announcement by
the Board of IWP International plc ("IWP") of 18 September rejecting their
proposed indicative offer of 44 cent per share. Mr. Byrne believes that the
proposed indicative offer was fair value for IWP, representing a premium of
approximately 91% over 23 cent, the average closing price of an IWP share in the
one month period prior to 25 August 2003, the last dealing day prior to the
announcement of a possible offer for IWP by members of management. As announced
by IWP on 18 September, discussions have now ended and the consortium has
withdrawn its proposal.


Bernard Byrne is being advised by Key Financial Capital Limited ("Key Capital")
and NCB Corporate Finance Limited ("NCB Corporate Finance").


Enquiries:


Key Capital
Liam Booth                                     Telephone: + 353 1 449 7900


NCB Corporate Finance
Fergus McLoughlin                              Telephone: + 353 1 611 5611


Bernard Byrne accepts responsibility for the information contained in this
announcement. To the best of the knowledge and belief of Bernard Byrne (who has
taken all reasonable care to ensure that such is the case), the information
contained in this announcement for which he accepts responsibility is in
accordance with the facts and does not omit anything likely to affect the import
of such information.


Key Capital and NCB Corporate Finance, which are authorised by the Irish
Financial Services Regulatory Authority under the Investment Intermediaries Act
1995, are acting exclusively for Bernard Byrne and for no one else in connection
with the matters described in this announcement and will not be responsible to
anyone other than Bernard Byrne for providing the protections afforded to
clients of Key Capital and NCB Corporate Finance or for providing advice in
relation to the matters described in this announcement.







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

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