RNS Number:1028J
Merrill Lynch International
24 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                                        24 March 2003
Date of dealing                                           21 March 2003
Telephone number                                          020 7996 1038
Please see attached disclosure of dealings under Rule 38.5 in the securities of the following companies:
21 March 2003
Thistle Hotels Plc - Ordinary
Regus Plc - Ordinary
P & O Princess Cruises Plc - Ordinary
AMENDMENT
state which element(s) of previous 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                                               Thistle Hotels Plc
             Class of security                                        Ordinary
             Date of disclosure                                       24 March 2003
             Date of dealing                                          21 March 2003
             Name of EMM                                              Merrill Lynch International
             Name of offeree/offeror with whom connected              Thistle Hotels Plc
            Number of securities purchased                            2,016
             Highest price paid*                                     GBP    1.19
             Lowest price paid*                                      GBP    1.18
            Number of securities sold                                 8,000
             Highest price paid*                                     GBP    1.20
             Lowest price paid*                                      GBP    1.20
             *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                                               Regus Plc
             Class of security                                        Ordinary
             Date of disclosure                                       24 March 2003
             Date of dealing                                          21 March 2003
             Name of EMM                                              Merrill Lynch International
             Name of offeree/offeror with whom connected              Regus Plc
            Number of securities purchased                            16,430
             Highest price paid*                                     GBP    0.18
             Lowest price paid*                                      GBP    0.18
             Number of securities sold                                Nil
             Highest price paid*                                      n/a
             Lowest Price Paid*                                       n/a
             *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                                               P & O Princess Cruises Plc
             Class of security                                        Ordinary
             Date of disclosure                                       24 March 2003
             Date of dealing                                          21 March 2003
             Name of EMM                                              Merrill Lynch International
             Name of offeree/offeror with whom connected              Carnival Corp
            Number of securities purchased                            470,578
             Highest price paid*                                     GBP    4.49
             Lowest price paid*                                      GBP    4.18
            Number of securities sold                                 299,709
             Highest price paid*                                     GBP    4.49
             Lowest price paid*                                      GBP    4.27
             *Currency must be stated


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