RNS Number:7639Q
Novar PLC
10 October 2003


FOR IMMEDIATE RELEASE


Novar plc


10 October 2003


Further Redemption for "B" Shares


Following the initial and further redemption periods announced previously, a
total of 173,205,056 "B" Shares (representing over 99.5% of the "B" Shares
originally issued) have been redeemed or repurchased  by the Company. Only
307,207 "B" Shares remain outstanding. In view of the very small number of "B"
Shares which remain in issue, the Company has decided to offer holders of "B"
Shares a further opportunity to redeem their shares, details of which are set
out below.


A further redemption period will commence today, Friday 10 October 2003 and
continue until the close of business on Thursday 20 November 2003. "B" Shares,
in respect of which validly completed redemption forms (which are printed on the
back of the "B" Share certificates) have been received by the Company's
Registrars (Computershare Investor Services PLC, PO Box 859, The Pavilions,
Bridgwater Road, Bristol, BS99 1XZ), on or before the close of business on
Thursday 20 November 2003, will be redeemed by the Company at their nominal
value of #1 per share. Cheques in respect of the redemption proceeds will be
despatched by no later than Wednesday 26 November 2003.


All "B" Shares redeemed during this further redemption period will be cancelled
and will not be reissued. Holders of "B" Shares requiring any further
information should contact Computershare Investor Services PLC on 0870 702 0100.


The record date for qualification to receive the dividend due to be paid on 20
November 2003, at the rate of 1.38744 pence per share, is the close of business
on 17 October 2003.  Accordingly registered holders of "B" Shares as at the
record date who elect to have their "B" Shares redeemed during this further
redemption period will retain their entitlement to receive the dividend due to
be paid on 20 November 2003.


This announcement has been approved solely for the purposes of section 57 of the
Financial Services Act 1986 by Cazenove & Co. Ltd, which is regulated in the
United Kingdom by the Financial Services Authority.  Cazenove is acting solely
for Novar plc as financial advisor in relation to the subject matter of this
announcement and no-one else and will not be responsible to anyone other than
Novar plc for providing the projections afforded to customers of Cazenove nor
for providing advice in relation to the subject matter of this announcement.


END


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