Compulsory Acqn of Shares

RNS Number:3626N
City & General Securities Limited
09 July 2003

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR
FROM AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES



                                                                    July 9, 2003


                        CITY & GENERAL SECURITIES LIMITED

                 RECOMMENDED CASH OFFER FOR COMPCO HOLDINGS PLC:

              COMPULSORY ACQUISITION OF OUTSTANDING COMPCO SHARES




The board of City & General Securities announced on July 7, 2003 that valid
acceptances of the Offer had been received in respect of more than 90 per cent.
of the Compco Shares to which the Offer relates and that the Offer had been
declared unconditional in all respects.



Accordingly, City & General Securities has issued notices under section 429 of
the Companies Act to those Compco Shareholders who have not already accepted the
Offer, informing them that it now intends to exercise its rights to acquire
compulsorily all the Compco Shares outstanding at the expiry of the requisite
notice period.



The Offer will remain open for acceptance until further notice.



Terms defined in the Offer Document have the same meanings in this announcement.



Enquiries:


TULCHAN                                               Telephone: [phone]
Andrew Grant
David Trenchard

Merrill Lynch                                         Telephone: [phone]
Bob Wigley
Simon Fraser



The Offer is not being made, directly or indirectly, in or into Australia,
Canada, Japan or the United States.  Accordingly, copies of this announcement
are not being, and must not be, mailed or otherwise distributed or sent in, into
or from Australia, Canada, Japan or the United States.  The availability of the
Offer to Compco Shareholders who are not resident in the United Kingdom may be
affected by the laws of relevant jurisdictions.  Compco Shareholders who are not
resident in the United Kingdom should inform themselves about and observe any
applicable requirements.



Merrill Lynch is acting exclusively for City & General Securities and no-one
else in connection with the Offer and will not be responsible to anyone other
than City & General Securities for providing the protections afforded to clients
of Merrill Lynch or for providing advice in relation to the Offer.



END


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