Statement re Initial Approach

RNS Number:4769N
Barlo Group PLC
11 July 2003


                                Barlo Group plc
                         Statement Re. Initial Approach


Barlo Group plc ("Barlo" or "the Company") announces that it has received an
approach from its Chief Executive, Dr. Anthony Mullins, which may or may not
lead to an offer being made for the Company.  Discussions are at a preliminary
stage and the Board has appointed a Committee comprising Mr. Niall Carroll,
Chairman, and Mr. John Farrell, the Senior Independent Director ("the 
Committee") to consider the approach.  The Committee has appointed AIB Corporate 
Finance Limited to provide it with independent financial advice.  A further 
announcement will be made in due course.

A holder of 1% or more of the shares of Barlo may have disclosure obligations
under Rule 8.3 of the Irish Takeover Panel Act, 1997, Takeover Rules, 2001,
effective from the date of this announcement.

Enquiries:

Mon O'Driscoll      Managing Director, AIB Corporate Finance    Tel:    + 353 1 667 0233

Mr. Niall Carroll   Chairman, Barlo Group plc                   Tel:    + 353 1 260 0966

Mr. Jim Milton      Murray Consultants Limited                  Tel:    + 353 1 632 6400
                                                                Mob: [phone]

Mr. Tom Byrne       Murray Consultants Limited                  Tel:    [phone]
                                                                Mob: [phone]


AIB Corporate Finance Limited, which is regulated in Ireland by the Irish
Financial Services Regulatory Authority under the Investment Intermediaries Act
1995, is acting for Barlo and for no one else in relation to the matters
described in this announcement and will not be responsible to anyone other than
Barlo for providing the protections afforded to clients of AIB Corporate Finance
Limited or for providing advice in relation to the matters described in this
announcement.

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

The Directors of Barlo accept responsibility for all the information contained
in this announcement.  To the best of the knowledge and belief of the Directors
of Barlo (who have each taken all reasonable care to ensure that such is the
case), the information contained in this announcement is in accordance with the
facts and does not contain anything likely to affect the import of such
information.


11th July, 2003


ENDS



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