Takeover Update

RNS Number:9975Z
Range Cooker Company PLC
15 August 2002


FOR RELEASE                   7.01 AM                            15 August  2002


                          THE RANGE COOKER COMPANY PLC
                                ("the Company")
       (One of the largest suppliers of quality domestic cookers in the UK)

                  The Range Cooker Company PLC (the "Company")

                             Takeover talks update


Further to previous announcements, the Company confirms that discussions have
made good progress and are continuing with Mr Robin Russell and certain
directors of the Company (backed by funds managed by Graphite Capital Management
Limited) (together, the "Existing Potential Offeror"), which may or may not lead
to an offer being made for the entire share capital of the Company.


The undertakings previously entered into by John Armstrong (Chairman of the
Company) and Nigel Wray have now expired. These undertakings committed them to
enter into irrevocable undertakings to accept an offer if made by the Existing
Potential Offeror at or around 20p per share before 13 August 2002, and
committed them not to take part in any talks or negotiations with any third
party for the sale of shares in Range at a lower value than that envisaged by
the heads of terms agreed between the Company and the Existing Potential
Offeror.


The Company confirms that it has been approached by an other party, and that
discussions have additionally now commenced with that party which may or may not
lead to an offer being made for the entire share capital of the Company. John
Armstrong has again agreed to waive part of his entitlement if such an offer is
made and in the event that he accepts a third party competing offer, he would
personally, under these circumstances, re-imburse certain costs incurred up to a
value of #350,000. Whilst this agreement has been entered into in place of the
previous agreement with the Existing Potential Offeror, the Company remains
positive that talks with the Existing Potential Offeror will continue to make
good progress.


A further announcement will be made in due course, when appropriate.


ENDS

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

END

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