RNS Number:7591I
Merrill Lynch International
14 March 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                                              14 March 2003
Date of dealing                                                 13 March 2003
Telephone number                                                020 7996 1038
Please see attached disclosure of dealings under Rule 38.5 in the securities of the following companies:
13 March 2003
P & O Princess Cruises Plc - Ordinary
Tesco Plc - Common
Sainsbury (J) Plc - Common
Thistle Hotels 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                                                      P & O Princess Cruises Plc
Class of security                                               Ordinary
Date of disclosure                                              14 March 2003
Date of dealing                                                 13 March 2003
Name of EMM                                                     Merrill Lynch International
Name of offeree/offeror with whom connected                     Carnival Corp
Number of securities purchased                                   122,989
Highest price paid*                                             GBP    3.65
Lowest price paid*                                              GBP    3.52
Number of securities sold                                        13,224
Highest price paid*                                             GBP    3.61
Lowest price paid*                                              GBP    3.55
*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                                                      Tesco Plc
Class of security                                               Common
Date of disclosure                                              14 March 2003
Date of dealing                                                 13 March 2003
Name of EMM                                                     Merrill Lynch International
Name of offeree/offeror with whom connected                     Trackdean Investments Ltd
Number of securities purchased                                   3,392,980
Highest price paid*                                             GBP    1.72
Lowest price paid*                                              GBP    1.63
Number of securities sold                                        2,623,387
Highest price paid*                                             GBP    1.72
Lowest price paid*                                              GBP    1.63
*Currency must be stated
                                                                                                       Rule 38.5 (CFD)
                                          CONNECTED EXEMPT MARKET-MAKERS / EXEMPT PRINCIPAL TRADERS:
                                DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS
             Dealing in Contract for Differences ("CFD") referenced to Tesco Plc Ordinary
             Date of Disclosure:                                          14 March 2003
             Date of Dealing                                              13 March 2003
             Name of EMM / EPT                                            Merrill Lynch International
             Name of offeree/offeror with whom connected                  Trackdean Investments Ltd
             Product Type                                                 LONG CFD
             Maturity Date                                                08 December 2003
             Writing of CFD
             Number of Ordinary to which the CFD is referenced            Nil
             CFD Reference Price Range                                    n/a
             Closing Out of CFD
             Number of Ordinary to which the CFD is referenced            30,000
            CFD Reference Price Range                                   1.63      to    1.63      GBP
                  Further Disclosure should be made where necessary so that the nature of the dealings can be fully
                                                             understood




                                                                                                       Rule 38.5 (CFD)
                                          CONNECTED EXEMPT MARKET-MAKERS / EXEMPT PRINCIPAL TRADERS:
             Dealing in Contract for Differences ("CFD") referenced to Tesco Plc Ordinary
             Date of Disclosure:
             Date of Dealing
             Name of EMM / EPT                                            Merrill Lynch International
             Name of offeree/offeror with whom connected
             Product Type                                                 LONG CFD
             Maturity Date                                                16 April 2004
             Writing of CFD
             Number of Ordinary to which the CFD is referenced            10,000
            CFD Reference Price Range                                   1.70      to    1.70      GBP
             Closing Out of CFD
             Number of Ordinary to which the CFD is referenced            Nil
             CFD Reference Price Range                                    n/a
                  Further Disclosure should be made where necessary so that the nature of the dealings can be fully
                                                             understood
                                                                                                       Rule 38.5 (CFD)
                                          CONNECTED EXEMPT MARKET-MAKERS / EXEMPT PRINCIPAL TRADERS:
             Dealing in Contract for Differences ("CFD") referenced to Tesco Plc Ordinary
             Date of Disclosure:
             Date of Dealing
             Name of EMM / EPT                                            Merrill Lynch International
             Name of offeree/offeror with whom connected
             Product Type                                                 SHORT CFD
             Maturity Date                                                08 December 2003
             Writing of CFD
             Number of Ordinary to which the CFD is referenced            402,413
            CFD Reference Price Range                                   1.67      to    1.67      GBP
             Closing Out of CFD
             Number of Ordinary to which the CFD is referenced            Nil
             CFD Reference Price Range                                    n/a
                  Further Disclosure should be made where necessary so that the nature of the dealings can be fully
                                                             understood


                                                 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                                                      Sainsbury (J) Plc
Class of security                                               Common
Date of disclosure                                              14 March 2003
Date of dealing                                                 13 March 2003
Name of EMM                                                     Merrill Lynch International
Name of offeree/offeror with whom connected                     Trackdean Investments Ltd
Number of securities purchased                                   294,812
Highest price paid*                                             GBP    2.30
Lowest price paid*                                              GBP    2.22
Number of securities sold                                        58,734
Highest price paid*                                             GBP    2.28
Lowest price paid*                                              GBP    2.23
*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                                                      Thistle Hotels Plc
Class of security                                               Ordinary
Date of disclosure                                              14 March 2003
Date of dealing                                                 13 March 2003
Name of EMM                                                     Merrill Lynch International
Name of offeree/offeror with whom connected                     Thistle Hotels Plc
Number of securities purchased                                  Nil
Highest price paid*                                             n/a
Lowest price paid*                                              n/a
Number of securities sold                                        1,000
Highest price paid*                                             GBP    1.22
Lowest price paid*                                              GBP    1.22
*Currency must be stated
                                                                                                       Rule 38.5 (CFD)
                                          CONNECTED EXEMPT MARKET-MAKERS / EXEMPT PRINCIPAL TRADERS:
                                DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS
             Dealing in Contract for Differences ("CFD") referenced to Thistle Hotels Plc Ordinary
             Date of Disclosure:                                          14 March 2003
             Date of Dealing                                              13 March 2003
             Name of EMM / EPT                                            Merrill Lynch International
             Name of offeree/offeror with whom connected                  Thistle Hotels Plc
             Product Type                                                 SHORT CFD
             Maturity Date                                                08 December 2003
             Writing of CFD
             Number of Ordinary to which the CFD is referenced            25,000
            CFD Reference Price Range                                   1.20      to    1.20      GBP
             Closing Out of CFD
             Number of Ordinary to which the CFD is referenced            Nil
             CFD Reference Price Range                                    n/a
                  Further Disclosure should be made where necessary so that the nature of the dealings can be fully
                                                             understood


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