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Hillsdown Holdings (HLD)

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Monday 26 July, 1999

Hillsdown Holdings

Result of Court Hearing

HILLSDOWN HOLDINGS PLC
26 July 1999

 
 Increased recommended proposals (the 'Increased Proposals') for the
    acquisition for cash of all the issued and to be issued share
  capital of Hillsdown Holdings plc ('Hillsdown') by Hines Limited,
 McKinney Limited and Crescent Acquisition Limited, companies formed
                         at the direction of
          Hicks, Muse, Tate & Furst Limited ('Hicks Muse')
                                  
                    Results of High Court hearing
 
Hillsdown announces that, at the High Court hearing held earlier
today, the Court approved the petition to sanction the Scheme of
Arrangement under Section 425 of the Companies Act 1985 described in
the Scheme Document dated 8 June 1999.
 
Today is the last day of dealing in Hillsdown Shares and the record
time for participation in payments to be made pursuant to the Scheme
is 6.00 p.m. today.
 
It is expected that the Scheme will become effective on 27 July,
1999 and that the consideration payable under the Scheme will be
despatched no later than 10 August, 1999.
 
 
Press enquiries
 
For further information contact:
 
For Hillsdown Holdings plc
 
Dresdner Kleinwort Benson                              0171 623 8000
Henry Somerset
Natalie Blyth
 
Financial Dynamics                                     0171 831 3113
George Welham
 
For Hicks, Muse, Tate & Furst Limited
 
Schroders                                              0171 658 6000
Rory Maw
Henry Stewart
 
Penrose Financial                                      0171 726 8686
Shona Prendergast
 
Kleinwort Benson Limited ('Dresdner Kleinwort Benson'), which is
regulated in the United Kingdom by The Securities and Futures
Authority Limited, is acting for Hillsdown and no one else in
connection with the Increased Proposals and will not be responsible
to anyone other than Hillsdown for providing the protections
afforded to customers of Dresdner Kleinwort Benson or for providing
advice in relation to the Increased Proposals.
 
J. Henry Schroder & Co. Limited ('Schroders'), which is regulated in
the UK by the Securities and Futures Authority Limited, is acting
for Hines Limited, McKinney Limited, Crescent Acquisition Limited
and Hicks Muse and no one else in connection with the Increased
Proposals and will not be responsible to anyone other than Hines
Limited, McKinney Limited, Crescent Acquisition Limited and Hicks
Muse for providing the protections afforded to customers of
Schroders or for providing advice in relation to the Increased
Proposals.
 
                                                                                                                                                                                                            

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