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Wednesday 07 May, 2008

Karl E Watkin

Rule 2.8 Announcement

Karl E Watkin
07 May 2008


7 May 2008


NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES,
CANADA OR JAPAN


FOR IMMEDIATE RELEASE


Karl E. Watkin ('Karl Watkin')


Statement Re: D1 Oils Plc ('D1 Oils' or 'the Company')


Karl Watkin announced on 20 March 2008 that he was at a very preliminary stage
in evaluating all options with regard to his shareholding in D1 Oils
('Shareholding'). The options included an increase or decrease in his
Shareholding, and whether or not to make an offer for the Company.


While Karl Watkin continues to consider his options with regard to his
Shareholding, he confirms he has no present intention of making an offer for D1
Oils.


Under Rule 2.8 of the City Code on Takeovers and Mergers, and except with the
consent of the Takeover Panel, the statement in the preceding paragraph will
prevent Karl Watkin or anyone acting in concert with him from announcing an
offer or possible offer for D1 Oils or taking certain other action within the
next six months unless there has occurred an event, as set out below, which
enables the statement to be set aside.


Accordingly, for the purposes of Rule 2.8 of the City Code, Karl Watkin reserves
the right (on behalf of himself and anyone acting in concert with him) to
announce an offer or possible offer for D1 Oils and/or to take any other action
which would otherwise be restricted under Rule 2.8 of the City Code within the
next six months in the event that:


(i) the agreement or recommendation of the board of D1 Oils is given to the
making of such an announcement or the taking of any such other action; or


(ii) a third party announces an offer for D1 Oils; or


(iii) if any announcement is made by or on behalf of D1 Oils that it is in
discussions which may or may not lead to an offer (or partial offer), or
formally or informally invites an offer (or partial offer) for D1 Oils; or


(iv) D1 Oils announces a 'whitewash proposal' or a 'reverse takeover' (each as
defined in the Takeover Code)



Contact


Brian Coleman-Smith

Cubitt Consulting Limited

+44 20 7367 5100 (Office)
+44 7802 724 400 (Mobile)




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