CED Close Enhanced

RNS Number:2294S
Redac Limited
28 February 2002


28 February 2002


REDAC LIMITED

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN, INTO OR FROM THE UNITED STATES,
CANADA, AUSTRALIA, SOUTH AFRICA, THE REPUBLIC OF IRELAND OR JAPAN

RECOMMENDED CASH OFFER FOR CEDAR PLC

OFFER CLOSED

On 1 February 2002, the Board of Redac declared the Offer unconditional in all
respects.

On 18 February 2002, the Board of Redac announced that the final closing date of
the Offer would be 28 February 2002, and that there would be no extension beyond
this date.

The Board of Redac hereby announces that the Offer closed at 3.00 p.m. on 28
February 2002 and is no longer capable of acceptance.




By 3.00 p.m. London time on 28 February 2002, Redac had received valid
acceptances of the Offer from the holders of 53,232,170 Cedar Shares
(representing approximately 69.30 per cent. of the existing issued share capital
of Cedar).

Since the announcement of the Offer, Redac has acquired 1,402,000 Cedar Shares
(representing approximately 1.83 per cent. of the existing issued share capital
of Cedar).  These Cedar Shares are not included in the total level of
acceptances referred to above.

In aggregate therefore, Redac has received valid acceptances in respect of or
has acquired a total of 54,634,170 Cedar Shares (representing approximately
71.12 per cent. of the existing issued share capital of Cedar).

Prior to the announcement of the Offer, Redac had received undertakings to
accept the Offer in respect of 156,753 Cedar Shares (representing approximately
0.2 per cent. of the existing issued share capital of Cedar), and acceptances of
the Offer have been received in respect of all such Cedar Shares and have been
included in the total level of acceptances referred to above.

Prior to the commencement of the Offer Period on 28 December 2001, neither Redac
nor any person acting or deemed to be acting in concert with it owned any Cedar
Shares (or rights over such shares) nor since that date (other than as disclosed
above) has Redac or any person acting in concert with it acquired or agreed to
acquire any Cedar Shares (or rights over such shares).


In this announcement 'Offer Document' means the document dated 7 January 2002,
relating to the Offer.  Definitions used in the Offer Document have the same
meanings when used in this announcement, unless the context requires otherwise.

Enquiries:

For further information, please contact:

Redac

Martin Bolland                   020 7240 9596

KPMG Corporate Finance

Paul Elliot                      020 7311 1000

The Offer is not being made, directly or indirectly, in or into the United
States, or by the use of the United States mails, or by any means or
instrumentality (including without limitation telephonically or electronically)
of the United States interstate or foreign commerce, or any facility of a United
States national securities exchange, nor is it being made in, or into Canada,
Australia, South Africa, the Republic of Ireland or Japan. Accordingly, copies
of the announcement are not being and must not be mailed forwarded, sent,
transmitted or otherwise distributed in, into or from the United States, Canada,
Australia, South Africa, the Republic of Ireland or Japan and persons receiving
this announcement (including without limitation custodians, nominees and
trustees) must not distribute forward, mail, transmit or send it in, into or
from the United States, Canada, Australia, South Africa, the Republic of Ireland
or Japan as doing so may make invalid any purported acceptance of the Offer in
any such jurisdiction.

The contents of this announcement have been approved solely for the purposes of
Section 21 of the Financial Services and Markets Act 2000 by KPMG Corporate
Finance.  KPMG Corporate Finance is a division of KPMG.  The address of KPMG
Corporate Finance is 8 Salisbury Square, London, EC4Y 8BB.

KPMG Corporate Finance is acting for RHL and Redac as financial adviser in
relation to the Offer and is not acting for any other person in relation to such
Offer.  KPMG Corporate Finance will not be responsible to anyone other than RHL
and Redac for providing the protections afforded to its clients or for providing
advice in relation to the contents of this document or any Offer or arrangement
referred to herein.




                      This information is provided by RNS
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