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Consortium not to proceed with foreshadowed offer

From the office of
Stephen Tindall

30 October 2006

Stephen Tindall Consortium not to proceed with foreshadowed offer

The founder of The Warehouse Stephen Tindall today advised that he would not be submitting an offer for shares in The Warehouse on the terms announced on 14 September 2006.

Mr Tindall said that circumstances had changed since he announced his intention to make an offer to the Board of The Warehouse. In particular there had been a significant change in shareholding in The Warehouse which had contributed to a markedly higher share price.

Given the change in circumstances, Mr Tindall said that he would assess future options in a considered manner and ensure that all stakeholder interests were contemplated.


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