Further re: Lapse of Offer

Guinness Peat Group PLC
05 February 2008


 Not for release, publication or distribution, in whole or in part, in, into or
    from the US, Canada or Australia or any jurisdiction where to do so would
            constitute a violation of the laws of such jurisdiction.
                                        
                                                                05 February 2008
                                                                                 
                              Increased Cash Offer
                                        
                                       by
                                        
                            Strand Partners Limited
                                        
                                  on behalf of
                                        
                         GPG Acquisitions No. 5 Limited
                                        
             (a wholly owned subsidiary of Guinness Peat Group plc)
                                        
                                      for
                                        
          the entire issued and to be issued ordinary share capital of
                                        
                             NEWBURY RACECOURSE PLC
                                        
                   Further re: Lapsing of the Increased Offer
  
                                      
GPG announced earlier today that its Increased Offer for Newbury Racecourse had
lapsed. As Newbury Shareholders will be aware from the various GPG documents,
the motivation behind the Original Offer was to protect GPG's investment, given
the Newbury Board's intention of entering into the proposed joint venture with
David Wilson Homes Limited ("DWH") for a 10 year property redevelopment. As a
direct result of GPG's offer Shareholders have been provided with a substantial
amount of information which the Newbury Board would otherwise not have made
public. The level of acceptances for the Increased Offer, together with the
Newbury shares held by GPG, indicate that at least 35% of the Company has severe
doubts in respect of the DWH contract, significantly more than the approximately
22% of the Shares represented by the Newbury Board.

Given this, GPG has served a requisition on the Company requesting that the
Newbury Board call a meeting of Shareholders (i) in line with best practice
corporate governance for such a material transaction, to consider the proposed
DWH contract; and (ii) to consider resolutions proposed by GPG for the
reconfiguration of the Newbury Board so that Shareholder nominees occupy four of
nine board seats. Newbury has obtained a written commitment from DWH which would
enable the Company, at any time up to July 2008, to enter into a contract for
the residential redevelopment. Nonetheless, GPG believes that little purpose is
served by the Newbury Board delaying such a meeting and calls upon it to convene
an Extraordinary General Meeting forthwith.

Commenting on the Increased Offer Blake Nixon, Chairman of GPG Acquisitions,
said "We are pleased with the scrutiny that has been applied to the DWH contract
and the level of support which has come about as a result of our offer. The DWH
saga, together with the support we have garnered, raise serious issues regarding
the Newbury Board's mandate as custodian of the Company's assets. We look
forward to the owners of the business making their decision at the Extraordinary
General Meeting on the appropriate way forward for Newbury Racecourse".


Enquiries:

GPG Acquisitions No. 5 Limited                  Tel: [phone]
Blake Nixon, Director

Strand Partners Limited                         Tel: [phone]
Simon Raggett

Citigate Dewe Rogerson                          Tel: [phone]
Kevin Smith

Strand Partners Limited, which is authorised and regulated in the United Kingdom
by the Financial Services Authority, is acting exclusively for GPG Acquisitions
and no one else in connection with the Increased Offer and will not be
responsible to anyone other than GPG Acquisitions for providing the protections
afforded to customers of Strand Partners, or for providing advice in relation to
the Increased Offer or in relation to the contents of this announcement or any
transaction or arrangement referred to herein.

This announcement does not constitute, or form part of, an offer to sell or
purchase or an invitation to purchase or subscribe for any securities or the
solicitation of an offer to sell, purchase or subscribe for any securities,
pursuant to the Increased Offer or otherwise.






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