EGM Statement

RNS Number:5751Q
Rugby Estates PLC
06 October 2003


Rugby Estates plc announces that at the extraordinary general meeting of the
Company held today each of the following resolutions was passed as an ordinary
resolution on a poll:

 (1) That the waiver by the Panel on Takeovers and Mergers (''Panel'') of the
obligation which might otherwise fall on the Concert Party (as defined in the
document sent to Shareholders of the Company dated 19th September 2003 (the ''
Circular")) to make a general offer pursuant to Rule 9 of the City Code on
Takeovers and Mergers (the ''Code'') as a result of an increase in the Concert
Party's deemed percentage shareholding to a maximum of 33.23 per cent. of the
issued share capital, represented by 3,217,429 Shares, pursuant to the exercise
in full of the Authority (as defined in the Circular), and the cancellation of
any Shares so acquired upon such exercise, be and is hereby approved.

(2) That, subject to the passing of resolution 1, the waiver by the Panel of the
obligation which might otherwise fall on the Concert Party to make a general
offer pursuant to Rule 9 of the Code as a result of an increase in the Concert
Party's deemed shareholding to a maximum of 3,264,929 Shares, representing 33.55
per cent. of the issued share capital, pursuant to the exercise in full of the
Authority and the cancellation of the Shares so acquired upon such exercise, and
the exercise of the David Tye Options (as defined in the Circular), be and is
hereby approved.

(3) That, subject to the passing of resolution 1, the waiver by the Panel of the
obligation which might otherwise fall on the Concert Party to make a general
offer pursuant to Rule 9 of the Code as a result of an increase in the Concert
Party's deemed shareholding to a maximum of 3,268,727 Shares, representing 33.59
per cent. of the issued share capital, pursuant to the exercise in full of the
Authority and the cancellation of the Shares so acquired upon such exercise, the
exercise of the David Tye Options and the acceptance by David Tye of the David
Tye AESOP Shares (as defined in the Circular), be and is hereby approved.



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