Offer for Southnews - Part 1

Trinity Mirror PLC
27 October 2000


PART 1


NOT  FOR  RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO  THE
UNITED STATES, CANADA, JAPAN OR AUSTRALIA

                      Trinity Mirror plc

           Recommended Cash Offer for Southnews plc


SUMMARY

The  boards of Trinity Mirror and Southnews announce that they
have  reached  agreement on the terms of  a  recommended  cash
offer,  to  be  made by Greenhill & Co. on behalf  of  Trinity
Mirror Regionals, a wholly-owned subsidiary of Trinity Mirror,
for the whole of the issued and to be issued share capital  of
Southnews.

*    The  Offer will be 1200p in cash for each Southnews Share
     and values the whole of the issued share capital of Southnews
     (on a fully diluted basis) at £284.6 million

*    The  Offer represents a premium of approximately  57  per
     cent. over the closing middle market price of 762.5p  per
     Southnews Share on 26 October 2000, the last business day
     prior to this announcement

*    In  addition, Southnews Shareholders will be entitled  to
     retain the interim dividend of 4.85p per Southnews Share

*    As  a  leading regional newspaper publisher in the  South
     East of England, publishing weekly paid-for and free titles,
     Southnews represents an important opportunity for Trinity
     Mirror  to  increase substantially its exposure  to  this
     economically significant part of the UK
     
     -    the combination of Trinity Mirror's existing portfolio of
          weekly titles with Southnews' 84 weekly paid-for and free
          titles will enable Trinity Mirror to offer extensive newspaper
          coverage of the South East of England to advertisers
     
     -    the acquisition will also give Trinity Mirror's portfolio
          of regional newspapers a better balance across the regional
          economies of the UK

*    The  board  of  Trinity  Mirror believes  that  operating
     profit enhancements can be generated from the elimination of
     certain corporate and administrative overheads, the reduction
     of materials costs using Trinity Mirror's purchasing power
     and, over time, the printing of Southnews' titles on Trinity
     Mirror's presses

*    The   board  of  Trinity  Mirror  expects  these   annual
     operating profit enhancements to amount to £4 million in the
     first 12 months of ownership and believes that there will be
     further benefits thereafter. The board of Trinity  Mirror
     believes that the acquisition of Southnews will be earnings
     enhancing in 2001*

*    Irrevocable  undertakings to accept the Offer  have  been
     received from certain institutional shareholders of Southnews
     and  Southnews Directors (and a related family trust)  in
     respect  of,  in aggregate, 12,301,027 Southnews  Shares,
     representing approximately 53.2 per cent. of Southnews' issued
     share capital

*    The Offer will contain a loan note alternative

*    The Offer has the unanimous support and recommendation of
     the board of Southnews

Philip Graf, Chief Executive Officer of Trinity Mirror, said:

'I  am delighted that we have reached agreement with the board
of  Southnews  for  a  recommended  offer.   Southnews  has  a
tremendous portfolio of high quality newspaper titles  focused
on  Greater London and around the M25, as well as in Essex and
Kent,  which will be an excellent addition to Trinity Mirror's
regional  and local newspaper franchises.  Trinity  Mirror  is
looking   forward  to  working  with  Southnews'   operational
management  and  staff  to  develop and  expand  the  enlarged
business in the South East of England.'

Gareth Clark, Chairman of Southnews, said:

'Southnews  has  made  good and pleasing  progress  since  its
formation  in 1986.  Through a series of acquisitions  and  by
launching  new titles, Southnews has emerged as a  substantial
regional newspaper group focused on the attractive London  and
Home  Counties  market.   Though we  have  identified  further
opportunities   for   developing  the  company,   the   recent
consolidation  within the newspaper industry  has  undoubtedly
diminished the range of suitable opportunities previously open
to  Southnews.   With  this in mind, I am therefore  convinced
that  the  correct  route to ensure the  continued  long  term
prosperity of our newspapers is by them now forming part of  a
larger newspaper group.'

This  summary should be read in conjunction with  and  in  the
context of the full text of this announcement.  A presentation
to  analysts  will be held at 9:30 a.m. today at The  Brewery,
Chiswell Street, London EC1Y 4SD.

Enquiries:

Trinity Mirror  020 7293 3000   Southnews       01932 566 311
Philip Graf                     Gareth Clark          
Margaret Ewing
                                                   
Greenhill & Co. 020 7440 0400   HSBC            020 7336 9000
Simon Borrows                   Nigel Medhurst
Brian Cassin                    Mark Harrison
                                                                
Finsbury        020 7251 3801                         
Rupert Younger
James Leviton


*  This statement should not be taken to mean that the future
   earnings per share of Trinity Mirror, as enlarged by the 
   acquisition of Southnews, will necessarily be greater than
   its historical earnings per share



The  Offer (including the Loan Note Alternative) will  not  be
made,  directly  or indirectly, in or into the United  States,
Canada,  Japan  or  Australia.  Accordingly,  copies  of  this
announcement  are  not  being, and  must  not  be,  mailed  or
otherwise distributed or sent into or from the United  States,
Canada, Japan or Australia.

The  Loan  Notes will not be listed on any stock exchange  and
have  not  been,  and  will  not  be,  registered  under   the
Securities  Act or under any relevant securities laws  of  any
State  of  the United States and the relevant clearances  have
not  been,  and  will  not be, obtained  from  the  regulatory
authority  of  any  province  or  territory  of  Canada.    In
addition,  no  prospectus in relation to the  Loan  Notes  has
been,  or will be, lodged with or registered by the Australian
Securities and Investments Commission and no steps have  been,
nor  will be, taken to enable the Loan Notes to be offered  in
compliance with the applicable securities laws of Japan or any
other country or jurisdiction outside the United Kingdom.  The
Loan  Notes  will not be offered, sold, resold,  delivered  or
distributed,  directly or indirectly, in or  into  the  United
States,  Canada, Japan or Australia or any other  jurisdiction
if  to do so would constitute a violation of the relevant laws
in such jurisdiction.

Greenhill  & Co., which is regulated in the United Kingdom  by
The  Securities and Futures Authority Limited, is  acting  for
Trinity  Mirror and Trinity Mirror Regionals and  for  no  one
else  in relation to the Offer and will not be responsible  to
anyone  other than Trinity Mirror and Trinity Mirror Regionals
for  providing  the  protections  afforded  to  customers   of
Greenhill  & Co. nor for providing advice in relation  to  the
Offer.

HSBC,  which  is  regulated  in  the  United  Kingdom  by  The
Securities  and  Futures  Authority  Limited,  is  acting  for
Southnews  and  for no one else in relation to the  Offer  and
will  not  be  responsible to anyone other than Southnews  for
providing  the protections afforded to customers of  HSBC  nor
for providing advice in relation to the Offer.





NOT  FOR  RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO  THE
UNITED STATES, CANADA, JAPAN OR AUSTRALIA

                      Trinity Mirror plc

           Recommended Cash Offer for Southnews plc


FULL TEXT

1.   Introduction

The  boards of Trinity Mirror and Southnews announce that they
have  reached  agreement on the terms of  a  recommended  cash
offer,  to  be  made by Greenhill & Co. on behalf  of  Trinity
Mirror Regionals, a wholly-owned subsidiary of Trinity Mirror,
for the whole of the issued and to be issued share capital  of
Southnews  at  1200p per share.  The Offer  values  Southnews'
share capital (on a fully diluted basis) at £284.6 million.

The  Offer represents a premium of approximately 57 per  cent.
over  the  closing middle market price of 762.5p per Southnews
Share on 26 October 2000 (the last business day prior to  this
announcement).

2.   Background to and reasons for the Offer

The  UK  regional newspaper industry has been the  subject  of
considerable change in ownership structure over the  last  ten
years  which, more recently, has featured consolidation  among
the  industry  participants.  This  has  been  driven  by  the
opportunity  to  share  resources and  to  improve  purchasing
power,  giving rise to more efficient operations and  enhanced
profitability.  Trinity Mirror has been an active  participant
in the industry consolidation.

Southnews  is  a leading regional newspaper publisher  in  the
South  East  of England, publishing weekly paid-for  and  free
titles.   It  represents an important opportunity for  Trinity
Mirror   to  increase  substantially  its  exposure  to   this
economically  significant  part  of  the  UK.   In   addition,
Southnews' titles are highly complementary to Trinity Mirror's
existing franchises in the South East of England.

Southnews'  titles comprise some 84 weekly paid-for  and  free
titles, focused on Greater London and around the M25, as  well
as in Essex and Kent.  Combined with Trinity Mirror's existing
portfolio  of  weekly  titles in the South  East  of  England,
Trinity  Mirror  will  be able to offer advertisers  extensive
newspaper  coverage of this part of the UK.   The  acquisition
will   also  give  Trinity  Mirror's  portfolio  of   regional
newspapers  a better balance across the regional economies  of
the UK.

The  board  of  Trinity Mirror believes that operating  profit
enhancements can be generated from the elimination of  certain
corporate  and  administrative  overheads,  the  reduction  of
materials  costs using Trinity Mirror's purchasing power  and,
over  time,  the  printing  of Southnews'  titles  on  Trinity
Mirror's presses.  In addition, Trinity Mirror will be able to
absorb  Southnews'  national advertising sales  representation
into its existing national sales operation, AMRA.

The  board  of  Trinity Mirror expects these annual  operating
profit  enhancements to amount to £4 million in the  first  12
months  of  ownership and believes that there will be  further
benefits thereafter. The board of Trinity Mirror believes that
the  acquisition  of Southnews will be earnings  enhancing  in
2001*.

*  This statement should not be taken to mean that the future
   earnings per share of Trinity Mirror, as enlarged by the 
   acquisition of Southnews, will necessarily be greater than 
   historical earnings per share

3.   The Offer

On  behalf of Trinity Mirror Regionals, Greenhill &  Co.  will
offer  to acquire all of the Southnews Shares, subject to  the
conditions and terms summarised in Appendix I and those to  be
set  out in the Offer Document and Form of Acceptance, on  the
following basis:
                               
       for each Southnews Share           1200p in cash

The  Offer  values  the whole of the issued share  capital  of
Southnews  (assuming the exercise in full of  all  outstanding
options   under  the  Southnews  Share  Option   Schemes)   at
approximately £284.6 million.

The  Southnews Shares which are the subject of the Offer  will
be  acquired by Trinity Mirror Regionals fully paid  and  free
from  all  liens,  charges, equitable interests,  third  party
rights  and encumbrances and together with all rights  now  or
hereafter  attaching thereto, including the right  to  receive
all  dividends and other distributions (if any) declared, made
or  paid  after the date of this announcement, other than  the
interim  dividend in respect of the six month period ended  30
September  2000  of  4.85p per share to be paid  to  Southnews
Shareholders  on the register of members of Southnews  at  the
close of business on 10 November 2000.

The  Offer  will  extend  to any Southnews  Shares  issued  or
unconditionally  allotted while the  Offer  remains  open  for
acceptance,  including any such Southnews Shares  allotted  or
issued pursuant to the exercise of options under the Southnews
Share Option Schemes.

If  the  Offer  becomes  or is declared wholly  unconditional,
Trinity Mirror Regionals intends to make appropriate proposals
to holders of options under the Southnews Share Option Schemes
to  the  extent that such options have not been  exercised  or
lapsed.

The  conditions and certain further terms of the Offer are set
out in Appendix I.  The Offer is conditional on Trinity Mirror
Regionals  receiving  the Secretary of  State  for  Trade  and
Industry's  consent  to  the transfer of  the  newspapers  and
newspaper  assets  of Southnews to Trinity  Mirror  Regionals.
Trinity  Mirror  Regionals is applying for  the  Secretary  of
State's  consent under a statutory procedure which allows  the
Secretary  of  State discretion, in cases where  none  of  the
newspapers concerned has an average daily paid-for circulation
of  more than 50,000 copies, to give his consent to a transfer
of  newspapers and newspaper assets without requiring a report
from the Competition Commission (none of  Southnews' newspaper
titles has an average daily paid-for circulation of more  than
50,000 copies).

Further  details of the bases and sources of certain financial
information in this announcement and the financial effects  of
acceptance are set out in Appendix II.

4.   Irrevocable undertakings to accept the Offer

Irrevocable  undertakings  to  accept  the  Offer  have   been
received  from certain institutional shareholders of Southnews
and  Southnews  Directors  (and a  related  family  trust)  in
respect   of,  in  aggregate,  12,301,027  Southnews   Shares,
representing approximately 53.2 per cent. of Southnews' issued
share  capital.  The terms of the irrevocable undertakings  of
the  Southnews Directors require acceptance of the Offer  even
if a third party makes a higher competing offer.

The  terms  of  the  irrevocable  undertakings  given  by  the
institutional shareholders in respect of 10,063,511  Southnews
Shares, will cease to be binding in the event of a third party
making  or announcing a firm intention to make an offer (which
is not subject to any pre-conditions) for the Southnews Shares
if the value of the consideration under such offer is 1300p or
more per Southnews Share.

5.   Recommendation

The  Directors of Southnews, who have been so advised by HSBC,
consider the terms of the Offer to be fair and reasonable.  In
providing advice to the Directors of Southnews, HSBC has taken
into  account the Southnews Directors' commercial  assessments
of  the  Offer.  Accordingly, the Directors of Southnews  will
unanimously recommend all Southnews Shareholders to accept the
Offer,  as  they (and where appropriate the relevant trustees)
have  undertaken to do in respect of their and their immediate
families'  and family trusts' holdings of 2,237,516  Southnews
Shares representing, in aggregate, approximately 9.7 per cent.
of Southnews' existing issued share capital.

6.   Information on Southnews

Southnews  is a leading regional and local newspaper publisher
in  the South East of England with 84 weekly titles, of  which
24 are paid-for and 60 are free.  Its portfolio extends across
Greater  London and around the M25, as well as  in  Essex  and
Kent.  Four ethnic paid-for titles published by Southnews  are
more widely available across the UK.  The paid-for titles have
a  total  circulation of approximately 314,000  and  the  free
titles have a total distribution of approximately 3,281,000.

In  the financial year ended 1 April 2000, Southnews generated
audited   consolidated  turnover  of  £75.9  million,  audited
consolidated  profit  on ordinary activities  before  taxation
(excluding  exceptional items and abortive acquisition  costs)
of  £13.0 million and audited consolidated earnings per  share
(excluding  exceptional items) of 42.7p.   At  1  April  2000,
Southnews    had   audited   consolidated   net   assets    of
£59.8 million.

On  15  March  2000,  Southnews acquired Denitz  for  a  total
consideration  of £52 million. Southnews subsequently  sold  a
number of Denitz's titles in Lincolnshire and Northamptonshire
to Johnston Press plc for £16.5 million.  In the year ended  1
April  2000  (i.e.  from 15 March 2000 to 1 April  2000),  the
retained  Denitz titles contributed £2.2 million  to  turnover
and  £0.3  million  to  profit on ordinary  activities  before
taxation (excluding exceptional items).

For  the  six month period ended 30 September 2000,  Southnews
generated  unaudited consolidated turnover of  £47.6  million,
unaudited  consolidated profit on ordinary  activities  before
taxation  (excluding exceptional items) of  £7.8  million  and
unaudited   consolidated   earnings   per   share   (excluding
exceptional  items)  of  23.7p.   As  at  30  September  2000,
Southnews  had  unaudited consolidated  net  assets  of  £64.2
million.

An  interim dividend in respect of the six month period  ended
30 September 2000 of 4.85p per Southnews Share will be payable
on  8  December 2000 to Southnews Shareholders on the register
of  members  of  Southnews  at the close  of  business  on  10
November 2000.

7.   Information on Trinity Mirror

Trinity  Mirror  is  the  UK's  largest  regional  and   local
newspaper  publisher,  with a broad and diverse  portfolio  of
over  170  titles.  It  is  also the second  largest  national
newspaper  publisher  in the UK with its flagship  title,  The
Mirror  and, in Scotland, the market leading Daily Record.  In
addition,  Trinity  Mirror publishes the  Sunday  Mirror,  the
Sunday People and, in Scotland, the Sunday Mail.

Trinity Mirror's sports publications portfolio comprises  five
titles  including  the Racing Post, the  UK's  leading  racing
publication.  Trinity Mirror also produces a range of business-
to-business and specialist consumer magazines and exhibitions.
In  digital media, Trinity Mirror is currently developing  its 
'ic' network of national and regional sites.

To  provide a more meaningful analysis of the trading  results
of  the predecessor entities of Trinity Mirror, unaudited  pro
forma  financial  information was prepared  for  the  53  week
period  ended 2 January 2000 on the assumption that the merger
of  Trinity plc and Mirror Group PLC had been effective at the
beginning  of  the  accounting period.   This  information  is
provided  below, along with the statutory results  of  Trinity
Mirror for the same period.

In  the  financial year ended 2 January 2000,  Trinity  Mirror
generated   unaudited  consolidated  pro  forma  turnover   of
£1,063.0  million, unaudited consolidated pro forma profit  on
ordinary  activities  before taxation  (excluding  exceptional
items) of £168.1 million and unaudited consolidated pro  forma
earnings per share (excluding exceptional items) of 46.1p  per
share.   In  the financial year ended 2 January 2000,  Trinity
Mirror  generated  audited  consolidated  turnover  of  £595.8
million,  audited  consolidated profit on ordinary  activities
before   taxation  (excluding  exceptional  items)  of  £115.3
million and audited consolidated earnings per share (excluding
exceptional  items) of 45.5p.  As at 2 January  2000,  Trinity
Mirror   had  audited  consolidated  net  assets  of  £1,283.7
million.

For  the  26  week  period ended 2 July 2000,  Trinity  Mirror
generated  unaudited consolidated turnover of £559.9  million,
unaudited  consolidated profit on ordinary  activities  before
taxation  (excluding exceptional items) of £89.6  million  and
unaudited   consolidated   earnings   per   share   (excluding
exceptional  items)  of 22.0p.  As at  2  July  2000,  Trinity
Mirror  had  unaudited  consolidated net  assets  of  £1,328.6
million.

8.   Employees

Trinity  Mirror  attaches  great  importance  to  the  skills,
technical  ability and experience of the existing  operational
management  and employees of Southnews.  The board of  Trinity
Mirror  has  confirmed  that the existing  employment  rights,
including  pension rights, of all employees of Southnews  will
be  fully  safeguarded.  It has been agreed that the executive
Directors of Southnews will, subject to the Offer becoming  or
being  declared  unconditional  in  all  respects,  resign  as
Directors  of Southnews.  However, the executive Directors  of
Southnews have agreed to continue as employees of the  Trinity
Mirror Group with reduced roles.

9.   Loan Note Alternative

Southnews   Shareholders   (other   than   certain    overseas
shareholders)  who  validly accept  the  Offer  may  elect  to
receive  Loan  Notes  instead of  some  or  all  of  the  cash
consideration to which they would otherwise be entitled  under
the Offer on the following basis:
                               
 for every £1 of cash under the Offer  £1 nominal of Loan Notes

The issue of Loan Notes will be limited to a maximum aggregate
nominal  value  of  £56  million.  If aggregate  elections  in
respect  of  the  Loan Note Alternative are greater  than  £56
million,  they  will be scaled down pro rata to the  elections
made.

The  Loan  Notes  will be issued, credited as fully  paid,  in
amounts  and  multiples  of  £1 nominal  and  will  constitute
unsecured   obligations  of  Trinity  Mirror  Regionals.   The
obligations of Trinity Mirror Regionals as issuer of the  Loan
Notes   will,  however,  be  guaranteed  by  Trinity   Mirror.
Entitlements to Loan Notes will be rounded down to the nearest
pound  and  the balance of any consideration will be satisfied
in cash.

The  Loan  Notes  will bear interest, payable  half-yearly  in
arrears  (less any tax) on 1 January and 1 July, at  the  rate
per  annum calculated to be half of one per cent. below LIBOR.
The first interest payment date will be 1 July 2001 in respect
of  the period from (and including) the date of first issue of
any  Loan Note up to (but excluding) 1 July 2001.  Holders  of
Loan  Notes  will have the right to redeem all or part  (being
£100  of  nominal amount or any integral multiple thereof)  of
their  Loan Notes for cash at par (plus accrued interest  less
any  tax)  on  1 January 2002 and at six monthly intervals  on
interest  payment dates thereafter, by giving 30  days'  prior
notice   to   Trinity  Mirror  Regionals.   Unless  previously
redeemed  or purchased, the Loan Notes will be redeemed  on  1
July 2005.

The  Loan  Notes will be transferable in amounts and multiples
of £100 nominal amount.  No application has been, nor will be,
made  for the Loan Notes to be listed or dealt in on any stock
exchange or other trading facility.

If the number of valid elections for the Loan Note Alternative
received  by the date the Offer becomes or is declared  wholly
unconditional  would  not result in  the  issue  of  at  least
£1,000,000 nominal amount of Loan Notes, no Loan Notes will be
issued unless Trinity Mirror Regionals determines otherwise.

The Loan Note Alternative is conditional on the Offer becoming
or being declared unconditional in all respects.

Hoare Govett has estimated that, had they been in issue on  26
October   2000,   the  last  business  day   prior   to   this
announcement,  based on market conditions at  that  date,  the
Loan Notes would have had a value of approximately 98p per  £1
nominal amount.

10.  General

Trinity Mirror is interested in one Southnews Share.

Save as disclosed herein, neither Trinity Mirror Regionals nor
any  Trinity  Mirror Regionals Director nor, to  the  best  of
Trinity Mirror Regionals Directors' knowledge and belief,  any
person acting in concert with Trinity Mirror Regionals for the
purposes  of the Offer, owns or controls any Southnews  Shares
or  holds any options to purchase any Southnews Shares or  has
entered  into  any  derivative  referenced  to  securities  of
Southnews  which  remains  outstanding  or  has  received  any
irrevocable  commitment to accept the Offer.  In the  interest
of   secrecy,  Trinity  Mirror  Regionals  has  not  made  any
enquiries in this respect of certain parties who may be deemed
by  the Panel to be acting in concert with it for the purposes
of the Offer.

Hoare Govett and ING Barings are brokers to the Offer.

This   announcement  does  not  constitute  an  Offer  or   an
invitation to purchase any securities.

The documents relating to the Offer will be despatched as soon
as practicable.

The  Directors  of  Southnews accept  responsibility  for  the
information  contained in this document  in  relation  to  the
Southnews  Group  and  themselves.   To  the  best  of   their
knowledge  and  belief (having taken all  reasonable  care  to
ensure  such is the case), the information contained  in  this
document for which they are responsible is in accordance  with
the  facts  and  does not omit anything likely to  affect  the
import of such information.

The  Directors of Trinity Mirror and the Directors of  Trinity
Mirror   Regionals  accept  responsibility   for   all   other
information contained in this document.  To the best of  their
knowledge  and  belief (having taken all  reasonable  care  to
ensure  that  such is the case), the information contained  in
this  document for which they are responsible is in accordance
with the facts and does not omit anything likely to affect the
import of such information.

Definitions  used in this press announcement are  set  out  in
Appendix III.

Enquiries:

Trinity Mirror   020 7293 3000   Southnews      01932 566 311
Philip Graf                      Gareth Clark          
Margaret Ewing
                                                   
Greenhill & Co.  020 7440 0400   HSBC           020 7336 9000
Simon Borrows                     Nigel Medhurst        
Brian Cassin                     Mark Harrison         
                                                   
Finsbury         020 7251 3801                         
Rupert Younger
James Leviton

The  Offer (including the Loan Note Alternative) will  not  be
made,  directly  or indirectly, in or into the United  States,
Canada,  Japan  or  Australia.  Accordingly,  copies  of  this
announcement  are  not  being, and  must  not  be,  mailed  or
otherwise distributed or sent into or from the United  States,
Canada, Japan or Australia.

The  Loan  Notes will not be listed on any stock exchange  and
have  not  been,  and  will  not  be,  registered  under   the
Securities  Act or under any relevant securities laws  of  any
State  of  the United States and the relevant clearances  have
not  been,  and  will  not be, obtained  from  the  regulatory
authority  of  any  province  or  territory  of  Canada.    In
addition,  no  prospectus in relation to the  Loan  Notes  has
been,  or will be, lodged with or registered by the Australian
Securities and Investments Commission and no steps have  been,
nor  will be, taken to enable the Loan Notes to be offered  in
compliance with the applicable securities laws of Japan or any
other country or jurisdiction outside the United Kingdom.  The
Loan  Notes  will not be offered, sold, resold,  delivered  or
distributed,  directly or indirectly, in or  into  the  United
States,  Canada, Japan or Australia or any other  jurisdiction
if  to do so would constitute a violation of the relevant laws
in such jurisdiction.

Greenhill  & Co., which is regulated in the United Kingdom  by
The  Securities and Futures Authority Limited, is  acting  for
Trinity  Mirror and Trinity Mirror Regionals and  for  no  one
else  in relation to the Offer and will not be responsible  to
anyone  other than Trinity Mirror and Trinity Mirror Regionals
for  providing  the  protections  afforded  to  customers   of
Greenhill  &  Co nor for providing advice in relation  to  the
Offer.

HSBC,  which  is  regulated  in  the  United  Kingdom  by  The
Securities  and  Futures  Authority  Limited,  is  acting  for
Southnews  and  for no one else in relation to the  Offer  and
will  not  be  responsible to anyone other than Southnews  for
providing  the protections afforded to customers of  HSBC  nor
for providing advice in relation to the Offer.
                         

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