Recommended Cash Offer

RNS Number:7929J
ReNeuron Holdings PLC
08 April 2003


8 April 2003

For immediate release


Not for release, publication or distribution in, into or from the United States,
Canada, Australia or Japan


                             RECOMMENDED CASH OFFER
                                      for
                       ReNeuron Holdings plc ("ReNeuron")


In connection with the Offer, being made by KPMG Corporate Finance on behalf of
St. James's MGP Limited ("St. James's"), the board of St James's announces that
the Offer Document and related Form of Acceptance are being posted today to
ReNeuron Shareholders and, for information only, to participants in the ReNeuron
Share Option Schemes.

As set out in the Offer Document, acceptances  of the Offer should be received
by no later than 3.00p.m. on the 30 April 2003.

Notice of an EGM of ReNeuron to be held on 29 April 2003 is set out in the Offer
Document.

Terms defined in the announcement dated 1 April 2003 relating to the Offer have
the same meaning in this announcement.


PRESS ENQUIRIES

For further information contact:


St. James's                                                     [phone]
Mark Clement, Chairman
Samantha Axtell

KPMG Corporate Finance                                          [phone]
Michael Higgins
Richard Barlow

Financial Dynamics                                              [phone]
David Yates
Ben Atwell

ReNeuron                                                         [phone]
Dr Martin Edwards, Chief Executive Officer
Michael Hunt, Chief Financial Officer


KPMG Corporate Finance, a division of KPMG LLP which is authorised by the
Financial Services Authority for investment business activities, is acting for
St. James's as financial adviser in relation to the Offer and is not acting for
any other person in relation to the Offer. KPMG Corporate Finance will not be
responsible to anyone other than St. James's for providing the protections
afforded to its clients or for providing advice in relation to the Offer or any
other matter referred to herein.

The availability of the Offer to persons who are not resident in the UK may be
affected by the laws of the relevant jurisdiction.  Persons who are not resident
in the UK should inform themselves about and observe any applicable
requirements.

The Offer is not being made, directly or indirectly, in, into or from, or by the
use of mails or any means or instrumentality (including, without limitation,
telephonically or electronically) of interstate or foreign commerce of, or any
facility of a national securities exchange of United States, Canada, Australia
or Japan and the Offer will not be capable of acceptance by any such use, means,
instrumentality or facilities from within the United States, Canada, Australia
or Japan. Accordingly, copies of this announcement are not being, and must not
be, directly or indirectly, mailed or otherwise forwarded, transmitted,
distributed or sent in, into or from the United States, Canada, Australia, Japan
and persons receiving this announcement (including custodians, nominees and
trustees) must not mail or otherwise forward, transmit, distribute or send it
in, into or from the United States, Canada, Australia or Japan.

This announcement does not constitute an offer or an invitation to purchase or
subscribe for any securities.

The contents of this announcement have been approved for the purposes of Section
21 of the Financial Services and Markets Act 2000 by KPMG Corporate Finance.
The address of KPMG Corporate Finance is 8 Salisbury Square, London, EC4Y 8BB.



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