Response to Media Speculation

Lookers PLC
05 December 2005

5 December 2005

                                  Lookers Plc

                         Statement re media speculation


The Board of Lookers ('Lookers' or 'the Company') has noted media speculation
connecting Lookers Plc with a possible offer for the shares of Reg Vardy Plc.



Lookers confirms that it has been actively engaged in discussions with the Board
of Reg Vardy Plc about a possible cash offer.  As part of these discussions, the
Company has made good progress in arranging finance for any such offer.  Taking
account of the announcement earlier today by Pendragon Plc setting out a
proposed offer for the shares of Reg Vardy at 800p per share, Lookers is
continuing to progress discussions with potential funding providers.  It
believes that there would be no regulatory issues in relation to any offer it
might make.



A further announcement will be made in due course.





Enquiries:

Andrew Hayes/Nick Lyon                                   Tel:  [phone]
Hudson Sandler





Dealing Disclosure Requirements:



Under the provisions of Rule 8.3 of the City Code on Takeovers and Mergers (the
'Code'), if any person is, or becomes, 'interested' (directly or indirectly) in
1% or more of any class of 'relevant securities' of Reg Vardy plc, all 'dealings
' in any 'relevant securities' of that company (including by means of an option
in respect of, or a derivative referenced to, any such 'relevant securities')
must be publicly disclosed by no later than 3:30pm (London time) on the London
business day following the date of the relevant transaction.  This requirement
will continue until the date on which the offer becomes, or is declared,
unconditional as to acceptances, lapses or is otherwise withdrawn or on which
the 'offer period' otherwise ends.  If two or more persons act together pursuant
to an agreement or understanding, whether formal or informal, to acquire an '
interest' in 'relevant securities' of Reg Vardy plc, they will be deemed to be a
single person for the purpose of Rule 8.3.



Under the provisions of Rule 8.1 of the Code, all 'dealings' in 'relevant
securities' of Reg Vardy plc, or by any of their respective 'associates', must
be disclosed by no later than 12:00 noon (London time) on the London business
day following the date of the relevant transaction.



A disclosure table, giving details of the companies in whose 'relevant
securities' 'dealings' should be disclosed, and the number of such securities in
issue, can be found on the Takeover Panel's website at
www.thetakeoverpanel.org.uk.



'Interests in securities' arise, in summary, when a person has long economic
exposure, whether conditional or absolute, to changes in the price of
securities.  In particular, a person will be treated as having an 'interest' by
virtue of the ownership or control of securities, or by the virtue of any option
in respect of, or derivative referenced to, securities.



Terms in quotation marks are defined in the Code, which can also be found on the
Panel's website.  If you are in any doubt as to whether or not you are required
to disclose a 'dealing' under Rule 8, you should consult the Panel.




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