RNS Number:1128K
Merrill Lynch International
16 April 2003


                                                      FORM 38.5 (SUMMARY)
             Lodge with Company Announcements Office and the Panel. Use a separate form for each class of
                                     securities in which dealings have been made.
                                                 CONNECTED EXEMPT MARKET-MAKERS:
                             DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS
Name of EMM                                                 Merrill Lynch International
Date of disclosure                                           16 April 2003
Date of dealing                                              15 April 2003
Telephone number                                             020 7996 3565
Please see attached disclosure of dealings under Rule 38.5 in the securities of the following companies:
15 April 2003
Thistle Hotels Plc - Ordinary
Waste Recycling Group Plc - Common
P & O Princess Cruises Plc - Ordinary
Regus Plc - Ordinary
AMENDMENT
state which element(s) of disclosure was incorrect:
In the case of option business or dealings in derivatives full details should be given on a separate sheet so
that the nature of the dealings can be fully understood. For options this should include the number of
securities under option, the exercise period (or in the case of exercise, the exercise date), the exercise price
and any option money paid or received. For derivatives this should include, at least, the number of reference
securities to which they relate (when relevant), the maturity date (or if applicable the closing out date) and
the reference price.
For full details of disclosure requirements see Rules 8 and 38 of the Code. If in doubt contact the Monitoring
Section of the Panel, Tel. No: 0171 638 0129
                                                         FORM 38.5
         Lodge with Company Announcements Office and the Panel. Use a separate form for each class of
         securities in which dealings have been made.
                                                       CONNECTED EXEMPT MARKET-MAKERS:
                              DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS
        Dealing in                                                  Thistle Hotels Plc
        Class of security                                           Ordinary
        Date of disclosure                                          16 April 2003
        Date of dealing                                             15 April 2003
        Name of EMM                                                 Merrill Lynch International
        Name of offeree/offeror with whom connected                 Thistle Hotels Plc
        Number of securities purchased                              457
        Highest price paid*                                        GBP    1.17
        Lowest price paid*                                         GBP    1.17
        Number of securities sold                                   8,986
        Highest price paid*                                        GBP    1.20
        Lowest price paid*                                         GBP    1.19
        *Currency must be stated


                                                         FORM 38.5
         Lodge with Company Announcements Office and the Panel. Use a separate form for each class of
         securities in which dealings have been made.
                                                       CONNECTED EXEMPT MARKET-MAKERS:
                              DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS
        Dealing in                                                  Waste Recycling Group Plc
        Class of security                                           Common
        Date of disclosure                                          16 April 2003
        Date of dealing                                             15 April 2003
        Name of EMM                                                 Merrill Lynch International
        Name of offeree/offeror with whom connected                 Terra Firma Investments (GP) 2 Limited
        Number of securities purchased                              Nil
        Highest price paid*                                         n/a
        Lowest price paid*                                          n/a
        Number of securities sold                                   3,637
        Highest price paid*                                        GBP    2.65
        Lowest price paid*                                         GBP    2.65
        *Currency must be stated


                                                         FORM 38.5
         Lodge with Company Announcements Office and the Panel. Use a separate form for each class of
         securities in which dealings have been made.
                                                       CONNECTED EXEMPT MARKET-MAKERS:
                              DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS
        Dealing in                                                  P & O Princess Cruises Plc
        Class of security                                           Ordinary
        Date of disclosure                                          16 April 2003
        Date of dealing                                             15 April 2003
        Name of EMM                                                 Merrill Lynch International
        Name of offeree/offeror with whom connected                 Carnival Corp
        Number of securities purchased                              553,337
        Highest price paid*                                        GBP    4.65
        Lowest price paid*                                         GBP    4.56
        Number of securities sold                                   547,873
        Highest price paid*                                        GBP    4.66
        Lowest price paid*                                         GBP    4.62
        *Currency must be stated


                                                         FORM 38.5
         Lodge with Company Announcements Office and the Panel. Use a separate form for each class of
         securities in which dealings have been made.
                                                       CONNECTED EXEMPT MARKET-MAKERS:
                              DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS
        Dealing in                                                  Regus Plc
        Class of security                                           Ordinary
        Date of disclosure                                          16 April 2003
        Date of dealing                                             15 April 2003
        Name of EMM                                                 Merrill Lynch International
        Name of offeree/offeror with whom connected                 Regus Plc
        Number of securities purchased                              Nil
        Highest price paid*                                         n/a
        Lowest price paid*                                          n/a
        Number of securities sold                                   77,521
        Highest price paid*                                        GBP    0.23
        Lowest price paid*                                         GBP    0.21
        *Currency must be stated




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