Offer Update

RNS Number:4351Q
Aspinalls Online PLC
01 October 2003



OFFER UPDATE



Not for release, publication or distribution in or into the United States of
America, Canada, Australia or Japan.



1 October 2003



                                 Cash Offer by

                                Damian Aspinall

                                      for

              Aspinalls Online plc ("Aspinalls" or "the Company")



                      Offer declared wholly unconditional



Damian Aspinall announces that as at 3:00 p.m. on Wednesday 1 October 2003, the
first closing date of the Offer, Damian Aspinall had received valid acceptances
of the Offer in respect of 215,223,842 Aspinalls Shares representing
approximately 73.66 per cent. of the entire issued share capital of Aspinalls.



Immediately prior to the commencement of the Offer Period, Damian Aspinall held
30,000 Aspinalls Shares, representing 0.01 per cent of the existing issued share
capital of Aspinalls, Warrants to acquire a further 3,005,000 Aspinalls Shares
and Options to acquire a further 4,000,000 Aspinalls Shares.  Parties deemed to
be acting in concert with Damian Aspinall held 227,486,338 Aspinalls Shares,
representing 77.86 per cent of the existing issued share capital of Aspinalls
and Warrants to acquire a further 1,583,333 Aspinalls Shares.  Damian Aspinall
has not acquired or agreed to acquire any Aspinalls Shares, Warrants or Options
during the Offer Period.



Damian Aspinall is pleased to announce that all of the conditions of the Offer
have now been satisfied or waived and, accordingly, the Offer has been declared
unconditional in all respects.



Damian Aspinall will also procure that Aspinalls will apply to the London Stock
Exchange for the cancellation of trading of Aspinalls Shares and Warrants on AIM
as from Wednesday 29 October 2003.



The Offer will remain open for acceptances until further notice. Forms of
Acceptance not yet returned should be completed and returned in accordance with
the instructions in the Offer document sent to Aspinalls Shareholders dated 10
September 2003 (the "Offer Document") and on the Forms of Acceptance so as to be
received as soon as possible.



Settlement in respect of valid acceptances received not later than the close of
business on 1 October 2003 will be despatched on or before 15 October 2003, and
within 14 days of the date of receipt in respect of further acceptances which
are complete and valid in all respects. Aspinalls Shareholders who wish to
accept the Offer and have not yet done so should despatch their Forms of
Acceptance as soon as possible.



This announcement does not constitute an offer or invitation to purchase any
securities or a solicitation of an offer to buy any securities, pursuant to the
Offer or otherwise. The full terms and conditions of the Offer (including
details of how the Offer may be accepted) are set out in the Offer Document and
the Form of Acceptance accompanying the Offer Document.



The expressions used in this announcement shall, unless the context otherwise
requires, bear the same meaning as set out in the Offer Document.



Damian Aspinall accepts responsibility for the information contained in this
announcement. To the best knowledge and belief of Damian Aspinall (having 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 omit anything
likely to affect the import of that information.





Enquiries:

Aspinalls Online plc

Daniel Taylor                      020 7529 2504



Daniel Stewart & Company PLC (Financial adviser to Aspinalls Online plc)

Dan Wilmott                        020 7374 6789

Alastair Cade




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