Merger Update

City Centre Restaurants PLC 10 December 2003 10 DECEMBER 2003 CITY CENTRE RESTAURANTS PLC ('CITY CENTRE') AND ASK CENTRAL PLC ('ASK CENTRAL') MERGER UPDATE On 12 November 2003 City Centre and Ask Central announced that preliminary discussions were taking place with regard to a merger of the two companies structured by way of a recommended offer by City Centre for the entire issued share capital of Ask Central. Due diligence has now been materially completed and terms substantially agreed. The offer proposal to Ask Central shareholders will be at a premium to the Ask Central share price of 166p on 12 November and will be funded by a mixture of City Centre shares and cash. Both Boards are confident that there is an excellent commercial, strategic and financial logic in combining the two companies. A merged group would be expected to create: - One of the UK's largest independent popular catering restaurant operators with over 400 restaurants. - A group with three strong restaurant concepts with excellent roll out potential. - A strengthened management team with executive and non executive participants from each company. - Greater flexibility for the improvement, rationalisation and further development of new sites A further announcement will be made in due course. Enquiries: City Centre Restaurants plc Tel: 020 7747 7750 Alan Jackson, Executive Chairman Ask Central plc Tel: 01727 735800 Adam Kaye, Chief Executive Dresdner Kleinwort Wasserstein (City Centre) Tel: 020 7623 8000 Charlie Batten, Managing Director Evolution Beeson Gregory (Ask Central) Tel: 020 7488 4040 Tom Price, Director College Hill Tel: 020 7457 2020 Matthew Smallwood/Tom Baldock Dresdner Kleinwort Wasserstein Limited, which is authorised and regulated by the Financial Services Authority, is acting exclusively for City Centre Restaurants plc and for no-one else in connection with the contents of this announcement and will not be responsible to anyone other than City Centre Restaurants plc for providing the protections afforded to customers of Dresdner Kleinwort Wasserstein Limited, or for giving advice in relation to the contents of this announcement or any matters referred to herein. Evolution Beeson Gregory Limited, which is authorised and regulated by the Financial Services Authority, is acting exclusively for Ask Central plc and no-one else in connection with the contents of this announcement and will not be responsible to anyone other than Ask Central for providing the protections afforded to customers of Evolution Beeson Gregory Limited, or for giving advice in relation to the contents of this announcement or any matters referred to herein. End This information is provided by RNS The company news service from the London Stock Exchange
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