CSE Cross Shr Reg S

RNS No 0836t
CITY SITE ESTATES PLC
15th December 1998
                                                                              
                                                                              
  NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES,
       CANADA, AUSTRALIA, SOUTH AFRICA, JAPAN OR THE REPUBLIC OF IRELAND
                                       
                   Announcement by Woodvale Estates Limited
                                       
                 Regarding the Offer for City Site Estates plc
                                       
                          OFFER WHOLLY UNCONDITIONAL
                                       
Woodvale Estates Limited ("Woodvale") announces that its Cash Offer for the
Ordinary Shares of City Site Estates plc ("City Site") not owned by Woodvale
or Louis Goodman ("the Offer") has become unconditional in all respects.  The
Offer will remain open for acceptances until further notice.

The consideration payable to accepting City Site ordinary shareholders is
expected to be despatched by 29 December 1998 in respect of acceptances
received by 15 December 1998 which are valid and complete in all respects or
within 14 days of the date of receipt in respect of further acceptances which
are valid and complete in all respects.

Prior to the announcement of the Offer, Woodvale owned or had contracted to
purchase 4,499,460 Ordinary Shares, representing approximately 26.8 percent of
City Site's existing issued ordinary share capital.  In addition, persons
acting or deemed to be acting in concert with Woodvale owned 544,085 Ordinary
Shares, representing 3.2 percent of City Sites existing issued ordinary share
capital.  In addition since 18 November 1998 Woodvale has purchased 1,541,667
Ordinary Shares representing 9.2 percent of the existing issued ordinary share
capital of City Site.

As at 2.30pm on 15 December 1998, valid acceptances in respect of 2,252,859
City Site Ordinary Shares, representing approximately 13.4 percent of the
existing issued ordinary share capital had been received.  This includes
acceptances from persons acting or deemed to be acting in concert with
Woodvale totalling 20,500 Ordinary Shares representing 0.1 percent of the
existing issued ordinary share capital of City Site.

In total Woodvale and persons acting or deemed to be acting in concert with
Woodvale own, have purchased and have received valid acceptances, which, in
aggregate total 8,817,571 Ordinary Shares representing 52.5 percent of the
existing issued ordinary share capital of City Site.

In addition, prior to 18 November 1998, Woodvale had received irrevocable
undertakings for an additional 184,350 Ordinary Shares representing 1.1
percent of the existing issued ordinary share capital of City Site.  Formal
acceptances of the Offer will now be requested in terms of these undertakings.

City Site ordinary shareholders who have not yet accepted the offer should
despatch their forms of acceptance as soon as possible.

Enquiries:     Louis Goodman, Woodvale Estates Ltd
               Telephone:     0141 248 2534

               Michael Sandler, Hudson Sandler Limited
               Telephone:     0171 796 4133

The Directors of Woodvale Estates Limited, (being Louis Goodman and Richard
Gilliland) accept responsibility for the information contained in this
announcement.  To the best of the knowledge and belief of the Directors of
Woodvale Estates Limited (who have taken all reasonable care to ensure that
such is the case), the information for which they accept responsibility in
this announcement, is in accordance with the facts and does not omit anything
likely to affect the importance of such information.

END



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