EGM Statement

Ascot PLC
8 May 2001





                                Result of EGM

                                  Ascot Plc



The Independent Ascot Board reports that at the Extraordinary General Meeting
held today the ordinary resolution to approve the disposal of Ascot Estates
Limited, Balmcrest Estates Limited, Ascot Properties Limited, Suter Estates
Limited and Pontin Mallorca S.A. (together 'the Property Subsidiaries') to the
Management Consortium was not passed. Accordingly, as detailed in the
announcement dated 30 April 2001, the agreement to dispose of the Property
Subsidiaries to Ashtenne Holdings PLC ('Ashtenne') is now conditional only on
the Recommended Cash Offer for Ascot, made by JPMorgan on behalf of Dow UK
plc, becoming or being declared unconditional in all respects.