Panel Stmt: Woolworths Group

RNS Number:9612J
Takeover Panel
18 March 2005

                                                                         2005/19


                              WOOLWORTHS GROUP PLC

                                 ("WOOLWORTHS")

                          APAX PARTNERS WORLDWIDE LLP

                                    ("APAX")


On 22 February, the Panel Executive announced that it had ruled that Apax must,
by 12 noon on Monday, 21 March, either announce a firm intention to make an
offer for Woolworths under Rule 2.5 of the Code or announce that it does not
intend to make an offer for Woolworths.

Following representations made by the advisers to Woolworths, and having
consulted with the advisers to Apax, the Panel Executive has ruled that the
deadline by which Apax must either announce a firm intention to make an offer
for Woolworths under Rule 2.5 of the Code or announce that it does not intend to
make an offer for Woolworths should be extended from 12 noon on Monday, 21 March
to 12 noon on Friday, 6 May. No extension to the revised deadline will be
granted, except with the consent of the Panel Executive.

In the event that Apax announces that it will not proceed with an offer for
Woolworths, Apax and any person acting in concert with it will, except with the
consent of the Panel Executive, be bound by the restrictions contained in Rule
2.8 of the Code for six months from the date of such announcement.


18 March 2005


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