CPR Carpetright Plc

RNS Number:5641K
Consortium headed by Lord Harris
21 December 2007

        TERMINATION OF DISCUSSIONS WITH CARPETRIGHT PLC ("CARPETRIGHT")



On 11 December 2007 Carpetright announced that the Independent Committee of the
Board of Carpetright (the "Independent Committee") was in advanced discussions
with a consortium headed by Lord Harris and other members of the senior
Carpetright management team (the "Consortium") in relation to the possibility of
an offer (the "Offer") by the Consortium to acquire the ordinary share capital
of Carpetright.



Since the Consortium's original proposal was submitted to the Independent
Committee, the credit markets have deteriorated significantly with a consequent
adverse impact on the economic outlook and the availability of funding and cost
of capital. As a result, the Consortium has been unable to secure the necessary
level of funding on satisfactory terms for the purposes of the Offer and hence
has concluded that it is not in the interests of its stakeholders to continue
discussions.



Lord Harris, Chairman and Chief Executive of Carpetright, commented:



"The senior management team of Carpetright has devoted a significant amount of
effort in recent months towards formulating its proposal and I am disappointed
that, due to external market conditions, we are unable to proceed with an offer
for the shares of Carpetright. I now look forward to focussing on the continued
growth of the business in the UK and Europe in the New Year."



Important Notice



For the purposes of Rule 2.8 of The City Code on Takeovers and Mergers, the
Consortium, or any person who has acted in concert with it or any person who is
subsequently acting in concert with either of them, reserves the right to make
or participate in an offer or possible offer for Carpetright shares within six
months of today's date: (i) with the agreement or recommendation of the
Independent Committee; (ii) if any announcement is made by or on behalf of
Carpetright or by a third party relating to the making of an offer; or (iii)
upon the announcement by or on behalf of Carpetright of a "whitewash" proposal
(as defined in the Code) or of a reverse takeover (as defined in the Code).




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

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