RNS Number:0283J
Paramount PLC
20 March 2003

For immediate release 20 March 2003

This announcement is not for release, publication or distribution in or into the
United States, Canada, Australia South Africa or Japan

 
                                     OFFER

                                       BY

                      DAWNAY DAY CORPORATE FINANCE LIMITED

                                  ON BEHALF OF

                                 PARAMOUNT PLC

                                      FOR

                             GROUPE CHEZ GERARD PLC



In connection with the announcement made on 13th March 2003 of an offer by
Dawnay Day Corporate Finance Limited, on behalf of Paramount PLC ("Paramount"),
for all of the issued and to be issued ordinary share capital of Groupe Chez
Gerard plc ("Groupe Chez Gerard") not already owned by Paramount (the "Offer"),
the board of Paramount announces that the Offer Document, Listing Particulars
and Form of Acceptance relating to the Offer have been posted to Groupe Chez
Gerard shareholders today.

The Offer will be open for acceptance until 3.00 p.m. (London time) on 10 April
2003. The Cash Alternative of 75p per Groupe Chez Gerard Share expires at 3.00
p.m. on 10 April 2003 and, if the Offer is then unconditional as to acceptances,
will not be extended thereafter.  A circular containing notice of an
Extraordinary General Meeting convened for 14 April 2003 at which resolutions
inter alia approving the Offer will be proposed has been posted to Paramount
shareholders.

Terms defined in the Offer Document and Listing Particulars dated 20 March 2003
have the same meaning in this announcement.


Enquiries:

Guy Naggar, Chairman of Paramount                        Tel: 020 7834 8060

Nick Basing, Chief Executive Designate                   Tel: 020 7834 8060

David Floyd, Dawnay, Day Corporate Finance               Tel: 020 7509 4570

Tim Robertson, CardewChancery                            Tel: 020 7930 0777



A copy of the documents referred to above has been submitted to the UK Listing
Authority, and will shortly be available for inspection at the UK Listing
Authority's Document Viewing Facility, which is situated at:


Financial Services Authority
25 North Colonnade
Canary Wharf
London
E14 5HS

Tel 020 7676 1000



Dawnay, Day Corporate Finance Limited has approved the contents of this
announcement solely for the purpose of Section 21 of the Financial Services and
Markets Act 2000. This announcement does not constitute an offer or an
invitation to acquire any securities. Any such offer will only be made pursuant
to the Offer Document and Form of Acceptance.

The availability of the Offer to persons not resident in the United Kingdom may
be affected by the laws of their relevant jurisdiction. Persons who are not
resident in the UK should obtain their own advice and observe any applicable
legal and regulatory requirements. The Offer is not being made, directly or
indirectly, in or into, or by use of the mails, or by any means or
instrumentality (including, without limitation, telephonically or
electronically) of interstate or foreign commerce, or any facilities of a
securities exchange, of the United States, Australia, South Africa, Canada or
Japan, and the Offer is not capable of acceptance by any such use, means,
instrumentality or facility from within the United States, Australia, South
Africa, Canada or Japan. Accordingly, copies of this announcement are not being,
and must not be, directly or indirectly, mailed or otherwise forwarded,
distributed or sent in or into the United States, Australia, South Africa,
Canada or Japan and persons receiving this announcement (including custodians,
nominees and trustees) must not mail or otherwise forward, distribute or send it
in or into the United States, Australia, South Africa, Canada or Japan. Doing so
may render invalid any purported acceptance of the Offer.

The full terms and conditions of the Offer (include details of how the Offer may
be accepted) are set out in the Offer Document and the Form of Acceptance
accompanying the Offer Document. Groupe Chez Gerard Shareholders who accept the
Offer may only rely on the Offer Document and the Form of Acceptance setting out
the full terms and conditions of the Offer. In deciding whether or not to accept
the Offer in respect of their Groupe Chez Gerard Shares, Groupe Chez Gerard
Shareholders should rely only on the information contained, and procedures
described, in the Offer Document and the Form of Acceptance.

Dawnay, Day Corporate Finance Limited, which is regulated in the United Kingdom
by the Financial Services Authority, is acting exclusively for Paramount and no
one else in connection with the Offer and will not be responsible to any person
other than Paramount for providing the protections afforded to its customers or
for providing advice in relation to the Offer.


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

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