DGM Deal Grp

RNS No 0161t
DAGENHAM MOTORS GROUP PLC
23rd February 1999


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

Recommended Offer by Goldman Sachs International on behalf of Polar Motor
Investments plc a wholly owned subsidiary of Polar Motor Group Limited for
Dagenham Motors Group plc.

OFFER DECLARED UNCONDITIONAL AS TO ACCEPTANCES

In connection with the recommended offer being made by Goldman Sachs
International on behalf of Polar Motor Investments plc ("Polar Motor
Investments") for all of the issued share capital of Dagenham Motors Group plc
("Dagenham Motors"), Polar Motor Investments announces that, as at 3.00 p.m.
on Monday 22 February 1999, the first closing date of the Offer, Polar Motor
Investments had received valid acceptances of the Offer in respect of a total
of 16,188,460 Dagenham Motors Shares, representing approximately 91.4 per
cent. of the existing issued share capital of Dagenham Motors.  Accordingly,
the Offer has been declared unconditional as to acceptances.

These acceptances include valid acceptances of the Offer received from all the
shareholder directors of Dagenham Motors in accordance with the irrevocable
undertakings to accept the Offer given by them in respect of an aggregate of
1,802,307 Dagenham Motors Shares, representing approximately 10.2 per cent. of
the existing issued share capital of Dagenham Motors.

Prior to the commencement of the Offer Period, Lancaster plc owned one
Dagenham Motors Share, representing approximately 0.00001 per cent. of the
existing issued share capital of Dagenham Motors, and Matheson Investment
Limited (a wholly owned subsidiary of Jardine Matheson Holdings Limited) had a
non-beneficial interest in 1,700 Dagenham Motors Shares, representing
approximately 0.01 per cent. of the existing share capital of Dagenham Motors.

The Offer, including the Guaranteed Loan Note Alternative, has been extended
until further notice.

Save as disclosed herein and in the Offer Document, neither Polar Motor
Investments nor any person acting, or deemed to be acting, in concert with
Polar Motor Investments, has acquired or agreed to acquire any Dagenham Motors
Shares (or rights over such Shares) during the Offer period and no acceptances
of the Offer have been received from any person acting or deemed to be acting
in concert with Polar Motor Investments.


Enquiries:

Goldman Sachs International                 0171 774 1000
Anthony Bernbaum

Definitions used in the Offer Document have the same meanings in this
announcement, unless otherwise indicated.

The Offer, including the Guaranteed Loan Note Alternative, will not be made,
directly or indirectly, in or into, or by the use of the mails or any means of
instrumentality (including without limitation, telephonically or
electronically) of interstate or foreign commerce of, or any facilities of a
national securities exchange of, the US, Canada, Australia or Japan and the
Offer will not be capable of acceptance by any such use, means,
instrumentality or facility from within the US, Canada, Australia or Japan. 
Accordingly, copies of this announcement are not being, and must not be,
mailed or otherwise forwarded, distributed or sent in or into or from the US,
Canada, Australia, or Japan and all persons receiving this announcement
(including nominees, trustees or custodians) must not mail or otherwise
forward, distribute or send it into the US, Canada, Australia or Japan.

Goldman Sachs International, which is regulated in the United Kingdom by The
Securities and Futures Authority Limited, is acting exclusively for Polar and
for no one else in connection with the Offer and will not be responsible to
anyone other than Polar for providing the protections afforded to customers of
Goldman Sachs International nor for giving advice in relation to the Offer.


END


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