Rule 8.3 - Incisive Media

FORM 8.3

                                                                               

   DEALINGS BY PERSONS WITH INTERESTS IN SECURITIES REPRESENTING 1% OR MORE    

                        (Rule 8.3 of the Takeover Code)                        

 

1.         KEY INFORMATION

 

Name of person dealing  (Note 1)               Caledonia     
                                               Investments   
                                               plc           
                                                             
Company dealt in                               Incisive Media
                                               PLC           
                                                             
Class of relevant security to which the        Ordinary 1p   
dealings being disclosed relate (Note 2)                     
                                                             
Date of dealing                                17 November   
                                               2006          
                                                             

 

2.         INTERESTS, SHORT POSITIONS AND RIGHTS TO SUBSCRIBE

 

(a) Interests and short positions (following dealing) in the class of relevant
security dealt in (Note 3)

 

                              Long             Short     
                                                         
                              Number     (%)   Number (%)
                                                         
(1) Relevant securities       21,024,997 20.56           
                                                         
(2) Derivatives (other than                              
options)                                                 
                                                         
(3) Options and agreements to                            
purchase/sell                                            
                                                         
Total                         21,024,997 20.56           
                                                         

 

(b) Interests and short positions in relevant securities of the company, other
than the class dealt in (Note 3)

 

Class of relevant security:        Long       Short     
                                                        
                                   Number (%) Number (%)
                                                        
(1) Relevant securities                                 
                                                        
(2) Derivatives (other than                             
options)                                                
                                                        
(3) Options and agreements to                           
purchase/sell                                           
                                                        
Total                                                   
                                                        

 

(c)        Rights to subscribe (Note 3)

 

Class of relevant security:                   Details     
                                                          
                                                          
                                                          

 

3.         DEALINGS (Note 4)

 

(a)        Purchases and sales

 

Purchase/    Number of           Price per unit (Note  
sale         securities          5)                    
                                                       
Purchase     2,566,000           1.948 GBP             
                                                       

 

 

(b)        Derivatives transactions (other than options)

 

Product      Long/short  Number of        Price per     
name, e.g.   (Note 6)    securities (Note unit  (Note 5)
CFD                      7)                             
                                                        
                                                        
                                                        
                                                        
                                                        

(c)        Options transactions in respect of existing securities

(i)         Writing, selling, purchasing or varying

 

Product   Writing,    Number of  Exercise Type,     Expiry Option  
name,e.g. selling,    securities price    e.g.      date   money   
call      purchasing, to which            American,        paid/   
option    varying     the option          European         received
          etc.        relates             etc.             per unit
                      (Note 7)                             (Note 5)
                                                                   
                                                                   
                                                                   

 

(ii)        Exercising

 

Product name, e.g.   Number of     Exercise price per   
call option          securities    unit (Note 5)        
                                                        
                                                        
                                                        

 

(d)        Other dealings (including new securities) (Note 4)

 

Nature of            Details Price per unit (if        
transaction (Note 8)         applicable) (Note 5)      
                                                       
                                                       
                                                       

 

4.         OTHER INFORMATION

 

Agreements, arrangements or understandings relating to options or derivatives

 

Full details of any agreement, arrangement or understanding between the person
disclosing and any other person relating to the voting rights of any relevant
securities under any option referred to on this form or relating to the voting
rights or future acquisition or disposal of any relevant securities to which
any derivative referred to on this form is referenced.  If none, this should be
stated.

 

……………………………………………………………………

 

……………………………………………………………………

 

 

Is a Supplemental Form 8 attached? (Note 9)
                                                 NO

 

 

Date of disclosure                            20 November
                                              2006       
                                                         
Contact name                                  G P Denison
                                                         
Telephone number                              020 7802   
                                              8080       
                                                         
If a connected EFM, name of offeree/offeror   n/a        
with which connected                                     
                                                         
If a connected EFM, state nature of           n/a        
connection (Note 10)                                     
                                                         

Notes

The Notes on Form 8.3 can be viewed on the Takeover Panel's website at 
www.thetakeoverpanel.org.uk