Inchcape Group Offer for IML

Inchcape PLC
1 March 2002



Inchcape Group's offer to acquire the minority holding in Inchcape Motors
Limited, Singapore - Update

The Inchcape Group's proposed offer to buy out the minority holding in its
quoted Singaporean subsidiary, Inchcape Motors Limited (IML), announced on 7
February 2002, was launched today.

The offer was pre-conditional on the Independent Directors of IML recommending
that the minority shareholders accept the offer. 

The announcements relating to this transaction, issued to the Singapore Stock
market, can be accessed at the website of the Singapore Exchange Limited,
www.sgx.com.sg


Notes to editors

For further information, please contact:

Group Communications, Inchcape plc  
020 7546 0022

John Olsen/Tom Leatherbarrow, Hogarth Partnership Limited  
020 7357 9477

IML is the national importer and retailer for Toyota, Lexus and Suzuki
automobiles in Singapore, and for Toyota and Lexus in Brunei.

The offer is being made by Inchcape's wholly owned subsidiary, Inchcape
Special Investments BV.


1 March 2002





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