Further re Tender Offer

RNS Number:7905H
Mallett PLC
21 February 2003

21 February 2003

Mallett PLC

Statement re Tender Offer

The Board of Mallett PLC ("Mallett") notes that the tender offer made by Trefick
Limited for 7.4 per cent. of its shares has been accepted in respect of less
than 2 per cent. of Mallett's issued ordinary share capital.

This low level of take-up by shareholders endorses the Board's view that the
tender offer price of 225 pence undervalues Mallett's shares.


Enquiries:
Mallett PLC          Peter Dixon            020 7499 7411

Close Brothers       Mark Wrightson         020 7655 3100
                     Christopher Lewey


Close Brothers Corporate Finance Limited, which is regulated in the United
Kingdom for the conduct of investment business by the Financial Services
Authority, is acting exclusively for Mallett PLC in connection with the matters
described herein and no-one else and will not be responsible to anyone other
than Mallett PLC for providing the protections afforded to customers of Close
Brothers Corporate Finance Limited, nor for providing advice in relation to the
matters described herein nor on any other matter.


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