Offer Document

Pendragon PLC
28 January 2004

Immediate Release         28 January 2004

This announcement is not for release, publication or distribution in or into the
United States, Canada, Australia, South Africa, the Republic of Ireland or
Japan.

RECOMMENDED CASH OFFER BY KPMG CORPORATE FINANCE ON BEHALF OF PENDRAGON PLC FOR
                                 CD BRAMALL PLC

The Offer Document relating to the Offer by KPMG Corporate Finance on behalf of
Pendragon PLC for CD Bramall PLC has been posted to CD Bramall
Shareholders.

Enquiries:
KPMG Corporate Finance    Charles E Cattaneo             Tel: [phone]
                          Andrew Wild

Finsbury Group            Rupert Younger                 Tel: [phone]
                          Charlotte Hepburne-Scott

Arbuthnot                 Stephen Lockley                Tel: [phone]
                          Richard Welton                 Tel: [phone]

Rickitt Mitchell          Roger Clement                  Tel: [phone]

KPMG Corporate Finance, a division of KPMG LLP which is authorised in the United
Kingdom by the Financial Services Authority for investment business activities,
is acting for Pendragon as financial adviser in relation to the Offer and is not
acting for any other person in relation to the Offer. KPMG Corporate Finance
will not be responsible to anyone other than Pendragon for providing the
protections afforded to its clients or for providing advice in relation to the
contents of this announcement or any transaction or arrangement referred to
herein.

Arbuthnot, which is authorised and regulated in the United Kingdom by the
Financial Services Authority, is acting for CD Bramall and for no one else in
connection with the Offer and will not be responsible to anyone other than CD
Bramall for providing the protections afforded to customers of Arbuthnot or for
giving advice in relation to the Offer.

Rickitt Mitchell, which is authorised and regulated in the United Kingdom by the
Financial Services Authority, is acting for CD Bramall and for no one else in
connection with the Offer and will not be responsible to anyone other than CD
Bramall for providing the protections afforded to customers of Rickitt Mitchell
or for giving advice in relation to the Offer.

This announcement does not constitute an offer or invitation to purchase any
securities.

Terms defined in the Offer Document have the same meaning in this announcement.




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