Etam PLC - Offer Wholly Unconditnl, etc

RNS No 5728h
ETAM PLC
12th January 1998


  Not for release or distribution in or into the United States of America,
                         Canada, Australia or Japan
                                      
                Etam Developpement SCA ("Etam Developpement")
 Recommended final* cash offer (the "Offer") for Etam Public Limited Company
                                  ("Etam")

                Offer declared unconditional in all respects

Etam Developpement has declared the Offer unconditional in all respects.  The
Offer will remain open for acceptances until further notice.

Pierre Milchior, Chief Executive Officer of Etam Developpement, said:

"I  am  delighted that the Offer has been successfully completed.  We welcome
the  employees of Etam and look forward to working with them to create a pan-
European fashion retail group"

As  at 3.00pm on 12 January 1998, Etam Developpement had received acceptances
in respect of 60,721,173 Etam shares, representing approximately 92 per cent.
of  the existing issued share capital of Etam.  On 12 November 1997 (the date
of  the announcement of the Offer) Etam Developpement acquired 4 million Etam
Shares representing approximately 6 per cent. of Etam's existing issued share
capital.   Etam  Developpement therefore owns or has received acceptances  in
respect  of  a total of 64,721,173 Etam Shares representing approximately  98
per  cent.  of the existing issued share capital of Etam.  Etam Developpement
therefore  intends  to  implement the procedure  under  Section  429  of  the
Companies  Act  1985  to  acquire compulsorily all of  the  outstanding  Etam
Shares.  A letter, together with a statutory notice pursuant to Section  429,
will be posted shortly to Etam shareholders who have not accepted the Offer.

Enquiries

Schroders        -  Alan Jacobs                   0171 658 6000
                 -  Marc Vincent                  00 331 44 20 65 65
                                                  
Credit Agricole  -  Jean-Marie Soubrier           00 331 41 89 26 62
Indosuez
                 -  Nick Bryan                    0171 971 4313


*The  Offer  is  final and will not be increased, save  in  the  event  of  a
competitive situation (as determined by the Panel) arising or otherwise  with
the consent of the Panel.

Schroders and Credit Agricole Indosuez, which are regulated in the UK by  The
Securities  and Futures Authority Limited, are acting for Etam  Developpement
and  no one else in connection with the Offer and will not be responsible  to
anyone  other than Etam Developpement for providing the protections  afforded
to customers of Schroders or Credit Agricole Indosuez or for providing advice
in relation to the Offer.


END


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