RNS No 8630a
CRAIG & ROSE PLC
22 July 1999


         CRAIG & ROSE PLC ("Craig & Rose" or "the Company")
                                  
                  Possible offer by A S Perloff Esq


On  14th  July, 1999 it was announced that Mr Alaster Cunningham,  a
director  of Craig & Rose had made recommended mandatory offers  for
all  the  issued Ordinary Stock that he does not already  own  at  a
price of 135p per stock unit and for all the Preference Stock of the
Company  at  a  price of 100p per stock unit.  At the  time  of  the
publication of the offer document, Alaster Cunningham owned 30.3 per
cent.  of Craig & Rose's existing issued ordinary capital.   Certain
other Craig & Rose stockholders, who are considered to be acting  in
concert  with Alaster Cunningham for the purposes of the City  Code,
own  23.2  per  cent.  of  Craig & Rose's existing  issued  ordinary
capital.   Accordingly, the Concert Party hold in excess of  50  per
cent.  of the issued ordinary capital of the Company and the  Offers
are fully unconditional.

Andrew  Perloff announces that he intends to approach the  Board  of
Craig  &  Rose and Bell Lawrie Wise Speke, the independent financial
adviser to the Board of Craig & Rose, to seek discussions with  them
and the other members of the Concert Party to ascertain whether cash
offers of 180p per Ordinary Stock unit and 100p per Preference Stock
unit would be recommended by Bell Lawrie Wise Speke and undertakings
to  accept such an offer would be received from sufficient  Ordinary
Stockholders to allow an acceptance condition of 50 per cent. of the
issued  ordinary stock to be satisfied.  If such offers were  to  be
made,  the  earliest date that they could be made would be  the  day
after the current mandatory offers made by Alaster Cunningham close,
which would be 19th August, 1999 at the earliest.

Andrew  Perloff intends to discuss with Alaster Cunningham  and  the
Rose  family the possibility of Craig & Rose disposing of the  paint
business  to some or all of the members of the Concert  Party  at  a
fair and reasonable price, although the sale of such business is not
a pre-condition of the making of any offer.  If such a disposal were
to  be  contemplated, under the Rules of the City Code, Bell  Lawrie
Wise  Speke,  as independent adviser to the Board of Craig  &  Rose,
would  be required to confirm that in its opinion the terms  of  the
transaction are fair and reasonable and the transaction  would  have
to be approved at a general meeting of Craig & Rose.

Andrew Perloff has agreed with the Panel on Takeovers and Mergers to
seek to enter into discussions with the relevant parties immediately
and to announce the outcome of the discussions as soon as possible.

As   the  Offers  by  Alaster  Cunningham  are  unconditional,   any
acceptances  are  irrevocable and not capable  of  being  withdrawn.
Accordingly,  Ordinary Stockholders and Preference Stockholders  are
urged  not  to accept the Offers until the conclusion of  the  above
mentioned discussions.

Enquiries

Andrew Perloff                                         0171 278 8011

John East & Partners
David Worlidge                                         0171 628 2200


Andrew  Perloff accepts responsibility for the information contained
in  this  announcement.   To the best of his  knowledge  and  belief
(having  taken all reasonable care to ensure that this is the  case)
such  information  for  which  he  accepts  responsibility  in  this
announcement  is  in accordance with the facts  and  does  not  omit
anything likely to affect the import of such information.

John  East & Partners Limited of Crystal Gate, 28-30 Worship Street,
London  EC2A  2AH, has approved this announcement as  an  investment
advertisement solely for the purposes of Section 57 of the Financial
Services Act 1986.  John East & Partners Limited is regulated by The
Securities and Futures Authority Limited.


END

OFFQLFFLKDKXBKB
Corin Group Rfd (LSE:CRGR)
Historical Stock Chart
From Apr 2024 to May 2024 Click Here for more Corin Group Rfd Charts.
Corin Group Rfd (LSE:CRGR)
Historical Stock Chart
From May 2023 to May 2024 Click Here for more Corin Group Rfd Charts.