RNS Number:4699L
ING Bank N.V. London Branch
22 May 2003

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR
FROM THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN.


FOR IMMEDIATE RELEASE


22 MAY 2003

                             RECOMMENDED CASH OFFER

                                       by

                                  ING BARINGS

                                  on behalf of

                               GONDOLAEXPRESS PLC

                                      for

                                PIZZAEXPRESS PLC

          ACCEPTANCES AT THIRD CLOSING DATE AND EXTENSION OF THE OFFER


The Board of GondolaExpress announces that, as at 3.00 p.m. today, being the
third closing date of the Offer, GondolaExpress has received valid acceptances
of the Offer in respect of a total of 41,242,924 PizzaExpress Shares,
representing approximately 57.45 per cent. of the Existing Issued Share Capital
of PizzaExpress.


On 3 April 2003, GondolaExpress announced that it had received irrevocable
undertakings to accept the Offer from PizzaExpress Executive Directors and from
a PizzaExpress institutional Shareholder amounting, in aggregate, to 6,632,475
PizzaExpress Shares, representing approximately 9.24 per cent. of the Existing
Issued Share Capital of PizzaExpress. Valid acceptances have been received in
respect of all of these PizzaExpress Shares and these Shares are included in the
total above.


Immediately prior to the commencement of the Offer Period, GondolaExpress and
persons deemed to be acting in concert with GondolaExpress owned or controlled,
in aggregate, 36,700 PizzaExpress Shares, representing approximately 0.05 per
cent. of the Existing Issued Share Capital of PizzaExpress. Valid acceptances of
the Offer have been received by GondolaExpress in respect of these Shares and
they are included in the total in the first paragraph above. Save as disclosed
herein, neither GondolaExpress nor any of the directors of GondolaExpress nor
(so far as GondolaExpress is aware) any party deemed to be acting in concert
with GondolaExpress, owned or controlled any PizzaExpress Shares or had rights
over PizzaExpress Shares on 13 December 2002, (the last business day before the
commencement of the Offer Period) nor have they acquired or agreed to acquire
any PizzaExpress Shares or rights over PizzaExpress Shares during the Offer
Period.


The Board of GondolaExpress announces that the Offer has been extended for a
period of seven days and will therefore remain open for acceptance until 3.00
p.m. on 29 May 2003.


PizzaExpress Shareholders who wish to accept the Offer, and who have not done
so, should complete the Form of Acceptance enclosed with the Offer Document and
return it, together with supporting documents, as soon as possible and, in any
event, so as to be received no later than 3.00 p.m. on 29 May 2003.


Certain terms used in this announcement are defined in the Offer Document dated
17 April 2003.









Enquiries

TDR Capital                                                         Tel:     020 7399 4200

Manjit Dale

Stephen Robertson

Capricorn                                             Tel:     020 7326 8440

Robbie Enthoven

Charles Luyckx

ING Barings                                           Tel:     020 7767 1000

(Financial adviser and broker to GondolaExpress)

Tom Quigley

Simon Newton

Adam Fraser-Harris

Gavin Anderson & Co                                   Tel:     020 7554 1400

(PR adviser to GondolaExpress)

Neil Bennett

Ken Cronin


ING Bank N.V., London branch, ("ING Barings"), which is regulated in the United
Kingdom by The Financial Services Authority, is acting exclusively for
GondolaExpress and no one else in connection with the Offer and will not be
responsible to anyone other than GondolaExpress for providing the protections
afforded to clients of ING Barings or for giving advice in relation to the Offer
or in relation to the contents of this announcement or any transaction or
arrangement referred to herein.


Neither the Offer nor the Loan Note Alternative is being made, directly or
indirectly, in or into the United States or by use of the mails, or by any means
or instrumentality (including, without limitation, facsimile transmission,
electronic mail, telex, telephone and internet) of United States inter-state or
foreign commerce, or any facility of a United States national securities
exchange nor is it being made in or into Canada, Australia or Japan.
Accordingly, copies of this announcement, the Offer Document, the Form of
Acceptance and any other document relating to the Offer are not being, and must
not be, mailed or otherwise distributed or sent in or into the United States,
Canada, Australia or Japan and persons receiving such documents (including,
without limitation, custodians, nominees and trustees) must not distribute,
forward, mail, transmit or send them in, into or from these jurisdictions as
doing so may render invalid any purported acceptance of the Offer by persons in
any such jurisdiction.


The Loan Notes which may be issued pursuant to the Loan Note Alternative have
not been, and will not be, registered under the Securities Act or under any
relevant laws of any state or other jurisdiction of the United States, nor have
the 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
Loan Notes has 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 Loan Notes to be offered in
compliance with applicable securities laws of Japan. Accordingly, unless an
exemption under relevant securities laws is available, the Loan Notes may not be
offered, sold, re-sold or delivered, directly or indirectly, in, into or from
the United States, Canada, Australia or Japan or any other jurisdiction in which
an offer of Loan Notes would constitute a violation of relevant laws or require
registration of the Loan Notes, or to or for the account or benefit of any US
person or resident of Canada, Australia or Japan or any other such jurisdiction.


This announcement does not constitute an offer to sell or invitation to purchase
or subscribe for any securities pursuant to the Offer or otherwise.


The availability of the Offer and/or the Loan Note Alternative to PizzaExpress
Shareholders who are not resident in the United Kingdom may be affected by the
laws of their relevant jurisdictions. PizzaExpress Shareholders who are not so
resident should inform themselves about and observe such applicable
requirements.


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

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