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McMullen & Sons Ld (53HK)

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Wednesday 21 January, 2004

McMullen & Sons Ld

Statemnt re Capital Reduction

McMullen & Sons Ld
21 January 2004


21 January 2004

McMullen & Sons, Limited ('McMullen' or 'the Company')

Court Confirmation of Capital Reduction

The Board of McMullen announces that an order was made today by the Court
confirming the proposed cancellation and repayment of the 6.5 per cent.
Preference Shares and the 10.5 per cent. Preference Shares.

Following the expiry on 19 January 2004 of the deadline for the receipt of
Acceptance Letters, it has now been possible to confirm the calculation of the
outcome of the second resolution proposed at the Extraordinary General Meeting
on 11 December 2003 relating to the approval of the Share Repurchase by
disregarding votes carried by shares rendered ineligible to vote as a result of
the proposed repurchase.  The Board of McMullen confirms that this resolution
was duly passed.

Both the Capital Reduction and the Share Repurchase will become effective upon
the registration of the Court Order with the Registrar of Companies, which is
expected to take place tomorrow.

Further information is contained in the circular which was issued by McMullen on
17 November 2003 (the 'Circular').  Terms used in this announcement shall have
the same meaning as in the Circular.


McMullen & Sons, Limited                                  01992 584911

Charles Brims, Chairman

John Lythgoe, Finance Director

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

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