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Friday 13 April, 2007

Kirk Newco PLC

Offer Update

Kirk Newco PLC
13 April 2007

   NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO OR FROM THE UNITED
    STATES, CANADA OR JAPAN, OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD
     CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH OTHER JURISDICTION




Announcement For     13 April 2007

Immediate Release


                    Recommended cash offer by Kirk Newco plc
                              for Enterprise plc
               Extension of the Offer and Level of Acceptances





On 23 March 2007, Kirk Newco plc ('Kirk Newco') made a recommended cash offer
for the entire issued and to be issued share capital of Enterprise plc
('Enterprise'), other than the 1,111,812 Enterprise Shares which Kirk Newco has
conditionally agreed to acquire from members of the Management Team pursuant to
the Acquisition Agreement (the 'Offer').

The Offer has been extended and will remain open for acceptance until 1.00 p.m
on 27 April 2007.

As at 1.00p.m. (London time) on 13 April 2007, being the first closing date of
the Offer, valid acceptances of the Offer had been received in respect of a
total of 61,317,751 Enterprise Shares, representing approximately 76.26 per
cent. of the issued share capital of Enterprise.  Of the valid acceptances of
the Offer received as at 1.00p.m. (London time) on 13 April 2007, acceptances
relating to an aggregate of 9,761,513 Enterprise Shares, representing
approximately 12.14 per cent. of the issued share capital of Enterprise, had
been received from persons acting in concert with Kirk Newco.  On the basis of
information available from acceptances, and confirmations received by Kirk Newco
from those Enterprise Shareholders who gave irrevocable undertakings, and a
letter of intent, to accept the Offer as regards their having accepted the
Offer:

-               an aggregate of 36,762,393 Enterprise Shares, representing
approximately 45.72 per cent. of the issued share capital of Enterprise, in
respect of which valid acceptances of the Offer had been received as at 1.00p.m.
(London time) on 13 April 2007 were subject to irrevocable undertakings to
accept the Offer procured by Kirk Newco prior to the announcement of the Offer;
and

-               3,261,791 Enterprise Shares, representing approximately 4.06 per
cent. of the issued share capital of Enterprise, in respect of which valid
acceptances of the Offer had been received as at 1.00p.m. (London time) on 13
April 2007 were subject to a non-binding letter of intent to accept the Offer
procured by Kirk Newco prior to the announcement of the Offer.

As at 1.00p.m. (London time) on 13 April 2007, Kirk Newco held 8,421,410
Enterprise Shares, representing approximately 10.47 per cent. of the issued
share capital of Enterprise, which shares were acquired by Kirk Newco on 26
March 2007.  Accordingly, as at 1.00p.m. (London time) on 13 April 2007, Kirk
Newco held, or had conditionally agreed to acquire, or had received valid
acceptances of the Offer in respect of, an aggregate of 70,850,973 Enterprise
Shares, representing approximately 88.12 per cent. of the issued share capital
of Enterprise.

Details of the interests in Enterprise Shares of persons acting in concert with
Kirk Newco are set out in the Appendix to this announcement.  Save as set out in
this announcement (including the Appendix), neither Kirk Newco nor, so far as
Kirk Newco is aware, any person acting or deemed to be acting in concert with
Kirk Newco has any interest in any Enterprise Shares or in any securities
convertible or exchangeable into Enterprise Shares ('Relevant Enterprise
Securities') or has any rights to subscribe for Relevant Enterprise Securities
or holds any short position in relation to Relevant Enterprise Securities
(whether conditional or absolute and whether in the money or otherwise),
including any short position under a derivative, any agreement to sell or any
delivery obligation or right to require another person to purchase or take
delivery, or has borrowed or lent any Relevant Enterprise Securities (save for
borrowed Enterprise Shares which have been either on-lent or sold).

Enterprise Shareholders who wish to accept the Offer, but have not yet done so,
are strongly encouraged (in the case of Enterprise Shares which are not held in
CREST) to complete and return a Form of Acceptance or (in the case of Enterprise
Shares held in uncertificated form (that is, held in CREST)) to take the action
set out in paragraph 15(b) of the letter from Kirk Newco in Part II of the Offer
Document, in each case as soon as possible and, in any event, by not later than
1.00 p.m on 27 April 2007.

Enquiries:
Enterprise                                                           Telephone: +44 (0) 1235 850 333
Nick Woollacott

Close Brothers Corporate Finance Limited (joint financial adviser to Telephone: +44 (0) 20 7655 3100
Enterprise)
Peter Alcaraz
David Wardrop

Gleacher Shacklock LLP (joint financial adviser to Enterprise)       Telephone: +44 (0) 20 7484 1150
Kieran Murphy
Tim Shacklock

Weber Shandwick (Enterprise PR enquiries)                            Telephone: +44 (0) 20 7067 0721
Nick Oborne

3i Investments / Kirk Newco                                          Telephone: +44 (0) 20 7928 3131
Ian Nolan
Keven Parker
Alan Giddins

Citigroup (financial adviser and corporate broker to 3i)             Telephone: +44 (0) 20 7986 4000
Philip Robert-Tissot
Mark Todd
Andrew Chapman (Corporate Broking)

Financial Dynamics (3i PR enquiries)                                 Telephone: +44 (0) 20 7831 3113
Andrew Dowler
Richard Mountain



The definitions set out in the Offer Document dated 23 March 2007 (the 'Offer
Document') apply in this announcement (including the Appendix) unless otherwise
indicated.

Citigroup, which is authorised and regulated in the United Kingdom by the
Financial Services Authority, is acting exclusively for 3i Investments, the 3i
Investors and Kirk Newco and no one else in connection with the Offer and will
not be responsible to anyone other than 3i Investments, the 3i Investors and
Kirk Newco for providing the protections afforded to clients of Citigroup nor
for providing advice in relation to the Offer, the content of this announcement
nor any matter referred to herein.

Close Brothers, which is authorised and regulated in the United Kingdom by the
Financial Services Authority, is acting exclusively for Enterprise and no one
else in connection with the Offer and will not be responsible to anyone other
than Enterprise for providing the protections afforded to clients of Close
Brothers nor for providing advice in relation to the Offer, the content of this
announcement nor any matter referred to herein.

Gleacher Shacklock, which is authorised and regulated in the United Kingdom by
the Financial Services Authority, is acting exclusively for Enterprise and no
one else in connection with the Offer and will not be responsible to anyone
other than Enterprise for providing the protections afforded to clients of
Gleacher Shacklock nor for providing advice in relation to the Offer, the
content of this announcement nor any matter referred to herein.

Unless otherwise determined by Kirk Newco, the Offer is not being made, directly
or indirectly, in, into or from, or by use of the mails of, or by any means or
instrumentality (including, without limitation, electronically or by facsimile
transmission, internet, email, telex or telephone) of interstate or foreign
commerce of, or any facility of a national, state or other securities exchange
of, the United States, Canada or Japan, nor, subject to certain exceptions, is
it capable of acceptance by any such use, means, instrumentality or facility or
from within the United States, Canada or Japan.  Accordingly, copies of this
announcement are not being, and must not be, directly or indirectly, mailed,
distributed, transmitted, forwarded or otherwise sent in, into or from the
United States, Canada or Japan.  Doing so may render invalid any purported
acceptance of the Offer.  Persons receiving this announcement (including,
without limitation, custodians, nominees and trustees) should not distribute,
mail, transmit, forward or send it in, into or from the United States, Canada or
Japan or use such mails or any such means, instrumentality or facility for any
purpose.


                                    Appendix

1            Members of the Management Team have the following interests in
Enterprise Shares:


Name                               Number of Enterprise Shares            % of issued share capital
Owen McLaughlin                    7,169,117*                             8.92
Neil Kirkby                        103,143**                              0.11
John Flood                         165,285                                0.21
Gary Parker                        21,398                                 0.03
Daniel Holland                     19,313                                 0.02
Michael McGrath                    116,520                                0.14
Martin Joyce                       345,144                                0.43
Philip Hall                        865,750                                1.08
Stuart Chaston                     439,299                                0.55



* Owen McLaughlin's interest includes 7,045,789 Enterprise Shares owned by the
Owen McLaughlin Trust and 77,935 Enterprise Shares held by the trustee of Owen
McLaughlin's self-invested pension plan



** Neil Kirkby's interest includes 14,837 Enterprise Shares in respect of which
he holds an award under the Annual Incentive Plan, such shares being held in an
employee benefit trust



2             Members of the Management Team have the following interests
pursuant to the Enterprise Share Schemes:


Name                            Number of ordinary shares in Enterprise   Number of Enterprise Shares
                                subject to options*                       awarded**
Neil Kirkby                     348,014                                   72,352
John Flood                      65,375                                    30,953
Gary Parker                     100,375                                   30,953
Daniel Holland                  77,206                                    19,346
Michael McGrath                 65,375                                    30,953
Martin Joyce                    61,786                                    30,971
Philip Hall                     65,375                                    30,953
Stuart Chaston                  42,206                                    19,346



* Options have been granted pursuant to the CSOP, the Sharesave Scheme and the
Unapproved Scheme.



** Awards have been made pursuant to the Performance Share Plan.



3             The Trustee of the Owen McLaughlin Trust is (in its capacity as
the trustee of such trust) interested in 7,045,789 Enterprise Shares.  This
interest duplicates the interest in an equivalent number of Enterprise Shares
comprising part of the interest of Owen McLaughlin referred to in paragraph 1
above.  James Hay Pension Trustees Limited is (in its capacity as the trustee of
Owen McLaughlin's self-invested pension plan) interested in 77,935 Enterprise
Shares.  This interest duplicates the interest in an equivalent number of
Enterprise Shares comprising part of the interest of Owen McLaughlin referred to
in paragraph 1 above.



4             In addition to the interests referred to in paragraphs 1 and 2
above, each of the executive directors of Enterprise, together with all other
employees of the Enterprise Group, are interested as potential beneficiaries in
the 499,533 Enterprise Shares held by the ARM EBT and the Enterprise EBT.



5            Michael Hynes and his wife, Linda Hynes, have the following
interests in Enterprise Shares:


Name                            Number of Enterprise Shares            % of issued share capital
Michael Hynes                   1,320,947                              1.64
Linda Hynes                     293,346                                0.36



6             The following close relatives of Owen McLaughlin are registered as
the holders of the following numbers of Enterprise Shares:


Name                            Number of Enterprise Shares            % of issued share capital


Jean McLaughlin                 6,666                                  0.01
Kieran McLaughlin               6,254                                  0.01
Sally McLaughlin                11,000                                 0.01
Shaun McLaughlin                4,980                                  0.01



7             The following close relatives of Michael Hynes are registered as
the holders of the following numbers of Enterprise Shares:


Name                            Number of Enterprise Shares            % of issued share capital
Clare Hynes                     35,160                                 0.04
David Hynes                     35,160                                 0.04
John Hynes                      35,160                                 0.04
Robert Hynes                    30,660                                 0.04






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