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Salvesen(Christn) (SVC)

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Tuesday 25 September, 2007

Salvesen(Christn)

Statement re Possible Offer


Christian Salvesen PLC - statement re possible offer

The Board of Christian Salvesen ("the Company") notes the recent movement in
its share price.

The Board confirms that it has received approaches from two parties which may
or may not lead to a recommended offer for the Company.  The indicative offer
proposals received by the Board are subject to a number of pre-conditions.

The Board is currently continuing discussions and will provide an update to
shareholders in due course. There can be no certainty that a formal offer for
the Company will be forthcoming or as to the terms on which any offer might be
made.

 

For further information, please contact:

Tulchan Communications
Stephen Malthouse                                         +44 (0)20 7353 4200
David Allchurch

 

Dealing Disclosure Requirements

Under the provisions of Rule 8.3 of the City Code on Takeovers and Mergers (the
"Code"), if any person is, or becomes, "interested" (directly or indirectly) in
1% or more of any class of "relevant securities" of the Company, all "dealings"
in any "relevant securities" of that Company (including by means of an option
in respect of, or a derivative referenced to, any such "relevant securities")
must be publicly disclosed by no later than 3.30 pm (London time) on the London
business day following the date of the relevant transaction. This requirement
will continue until the date on which the offer becomes, or is declared,
unconditional as to acceptances, lapses or is otherwise withdrawn or on which
the "offer period" otherwise ends. If two or more persons act together pursuant
to an agreement or understanding, whether formal or informal, to acquire an
"interest" in "relevant securities" of the Company, they will be deemed to be a
single person for the purpose of Rule 8.3 of the Code.

Under the provisions of Rule 8.1 of the Code, all "dealings" in "relevant
securities" of the Company by the Company, or by any of its respective
"associates", must be disclosed by no later than 12.00 noon (London time) on
the London business day following the date of the relevant transaction.

A disclosure table, giving details of the companies in whose "relevant
securities" "dealings" should be disclosed, and the number of such securities
in issue, can be found on the Takeover Panel's website at
www.thetakeoverpanel.org.uk.

"Interests in securities" arise, in summary, when a person has long economic
exposure, whether conditional or absolute, to changes in the price of
securities. In particular, a person will be treated as having an "interest" by
virtue of the ownership or control of securities, or by virtue of any option in
respect of, or derivative referenced to, securities. Terms in quotation marks
are defined in the Code, which can also be found on the Takeover Panel's
website. If you are in any doubt as to whether or not you are required to
disclose a "dealing" under Rule 8, you should consult the Takeover Panel.

a d v e r t i s e m e n t