Statement re Alliance Boots

RNS Number:2351V
The Wellcome Trust
20 April 2007

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


For immediate release                                 20 April 2007


           Statement Regarding Alliance Boots plc ("Alliance Boots")

Following the announcement this morning by AB Acquisitions Limited of a
recommended offer for Alliance Boots at 1090p per share in cash, Terra Firma,
the Wellcome Trust and HBOS (the "Consortium") have provided the board of
Alliance Boots with the terms of an indicative proposal at 1126p per share in
cash reduced by the break fee agreed with AB Acquisitions Limited resulting in
an offer price per share to shareholders of 1115p in cash.  The Consortium
awaits a response from Alliance Boots on additional due diligence and urges
shareholders in Alliance Boots to take no action.


No decision has been made by the Consortium regarding the merits of making an
offer for Alliance Boots and as a consequence there can be no certainty that an
offer will be forthcoming.  A further announcement will be made in due course.


For enquiries:


Andrew Dowler


Financial Dynamics


0207 831 3113


Lehman Brothers Europe Limited, which is authorised and regulated in the United
Kingdom by the Financial Services Authority, is acting as financial adviser to
the Consortium and no one else in connection with the possible offer referred to
in this announcement and will not be responsible to anyone other than the
Consortium for providing the protections afforded to clients of Lehman Brothers
Europe Limited nor for providing advice in relation to this announcement or any
matter referred to herein.


Gleacher Shacklock LLP, which is authorised and regulated in the United Kingdom
by the Financial Services Authority, is acting as financial adviser to the
Consortium and no one else in connection with the possible offer referred to in
this announcement and will not be responsible to anyone other than the
Consortium for providing the protections afforded to clients of Gleacher
Shacklock LLP nor for providing advice in relation to this announcement or any
matter referred to herein.


Dealing Disclosure Requirements


Under the provisions of Rule 8.3 of the Takeover Code (the "Code"), if any
person is, or becomes, "interested" (directly or indirectly) in 1% or more of
any class of "relevant securities" of Alliance Boots, all "dealings" in any
"relevant securities" of that company (including by means of an option in
respect of, or a derivative referenced to, any such "relevant securities") must
be publicly disclosed by no later than 3.30 pm (London time) on the London
business day following the date of the relevant transaction.


This requirement will continue until the date on which the offer becomes, or is
declared, unconditional as to acceptances, lapses or is otherwise withdrawn or
on which the "offer period" otherwise ends. If two or more persons act together
pursuant to an agreement or understanding, whether formal or informal, to
acquire an "interest" in "relevant securities" of Alliance Boots, they will be
deemed to be a single person for the purpose of Rule 8.3.


Under the provisions of Rule 8.1 of the Code, all "dealings" in "relevant
securities" of Alliance Boots, or by any of its "associates", must be disclosed
by no later than 12.00 noon (London time) on the London business day following
the date of the relevant transaction.



A disclosure table, giving details of the companies in whose "relevant
securities" "dealings" should be disclosed, and the number of such securities in
issue, can be found on the Takeover Panel's website at
www.thetakeoverpanel.org.uk.



"Interests in securities" arise, in summary, when a person has long economic
exposure, whether conditional or absolute, to changes in the price of
securities. In particular, a person will be treated as having an "interest" by
virtue of the ownership or control of securities, or by virtue of any option in
respect of, or derivative referenced to, securities.



Terms in quotation marks are defined in the Code, which can also be found on the
Panel's website. If you are in any doubt as to whether or not you are required
to disclose a "dealing" under Rule 8, you should consult the Takeover Panel.



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

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