RNS Number:2644O
Skye Leisure Ventures PLC
01 August 2003


For immediate release
1 August 2003

Not for release, publication or distribution in or into the United States of
America, Canada, Australia or Japan



                             Recommended Cash Offer

                                       by

                             PricewaterhouseCoopers

                                  on behalf of

                           Skye Leisure Ventures plc

                                      for

                              Macdonald Hotels plc



In connection with the announcement made on 31 July 2003 that agreement had been
reached on the terms of a recommended cash offer, to be made by
PricewaterhouseCoopers on behalf of Skye Leisure Ventures plc ("Skye") for the
entire issued and to be issued share capital of Macdonald Hotels plc ("Macdonald
Hotels" or "the Company"), other than the 534,389 Macdonald Hotels Shares which
Skye has conditionally agreed to acquire pursuant to the Exchange Agreements,
Skye announces that the Offer Document and Form of Acceptance relating to the
Offer have been posted to Macdonald Hotels Shareholders today.

The Offer will initially be open for acceptance until 3.00 p.m. on 22 August
2003.  Certain terms used in this announcement are defined in the Offer
Document.



Enquiries:

PricewaterhouseCoopers
Philip Kendall                                                  020 7212 3250
Lucy Burt                                                       020 7213 1812




PricewaterhouseCoopers, which is authorised and regulated in the United Kingdom
by the Financial Services Authority for designated investment business, is
acting exclusively for Skye and for no one else in relation to the Offer and
will not be responsible to anyone other than Skye for providing the protections
afforded to clients of PricewaterhouseCoopers or for giving advice in relation
to the Offer or any other matter referred to in this announcement.

The Offer is not being made, and will not be made, directly or indirectly, in or
into, or by the use of the mails or by any means or instrumentality (including,
without limitation, by means of telephone, facsimile, telex, internet or other
forms of electronic communication) of interstate or foreign commerce or by any
facilities of a national securities exchange of, the United States of America,
Canada, Australia or Japan and the Offer will not be capable of acceptance by
any such use, means, instrumentality or facility or from within those
jurisdictions. Accordingly, copies of this announcement are not being, and must
not be, mailed, transmitted or otherwise forwarded, distributed or sent, in
whole or in part, in, into or from the United States of America, Canada,
Australia or Japan.  Custodians, nominees and trustees should observe these
restrictions and should not send or distribute this announcement in, into or
from the United States of America, Canada, Australia or Japan.

The Bank Guaranteed Loan Notes to be issued pursuant to the Loan Note
Alternative have not been, and will not be, registered under the Securities Act
or under any relevant securities laws of any states or other jurisdiction of the
United States of America, nor have the relevant clearances been, nor will they
be, obtained from the securities commission or similar authority of any province
or territory of Canada, and no prospectus has been or will be filed, or
registration made, under any securities law of any province or territory of
Canada, nor has a prospectus in relation to the Bank Guaranteed Loan Notes been,
nor will one be, lodged with or registered by the Australian Securities and
Investments Commission nor have any steps been taken, nor will any steps be
taken, to enable the Bank Guaranteed Loan Notes to be offered in compliance with
applicable securities laws of Japan.  Accordingly, unless an exception under
such Act or securities laws is available, Bank Guaranteed Loan Notes may not be
offered, sold, resold, delivered or transferred directly or indirectly, in, into
or from the United States of America, Canada, Australia or Japan, or any other
jurisdiction in which an offer of Bank Guaranteed Loan Notes would constitute a
violation of relevant laws or require registration thereof, or to or for the
account or benefit of any US Person or resident of Canada, Australia or Japan.


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