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Moss Bros Group (MOSB)

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Thursday 04 April, 2002

Moss Bros Group

Statement re Further Approach

Moss Bros Group PLC
3 April 2002

For immediate release                                     4 April 2002

                         Moss Bros Group Plc ('Moss Bros')
                       Statement on Further Approach from
     Legendary Investments PLC and Mr Shami Ahmed ('Legendary Investments')

Moss Bros announces that it has reviewed the further approach received on the
afternoon of 28 March 2002 from Legendary Investments in connection with a
possible offer for the Company.  The Board of Moss Bros, which has been so
advised by Rothschild, unanimously rejects the proposals put to it for the
following reasons:

1.       They still do not represent an offer to shareholders and are still not
         supported by committed finance.

2.       There has been no apparent reduction to the long and complex list of
         pre-conditions contained in Legendary Investments's previous proposal 
         on 5 March, which Moss Bros announced on 7 March.

3.       There is no improvement in the proposed range of prices, except that
         the lower end of the price range has increased by 5p.

4.       Were there to be an offer, the price indicated does not provide fair
         value in light of the Board's view of the prospects for medium term 
         business recovery and the strategic value of the Company's brands, 
         market shares and 156 retail sites across the UK.

On 8 March 2002, The Takeover Panel announced its ruling that Legendary
Investments must, by 5.00pm on 5 April 2002, either announce an offer for Moss
Bros or announce that it will not proceed with an offer.  One of the effects of
this ruling is to protect the business and assets of Moss Bros from significant
disruption resulting from the Company being subject to continued publicity and
pressure over prospective offers from an entity or a person who will not make an
actual offer to shareholders under Rule 2.5 of the Code.  Despite publicly
announcing its interest in Moss Bros almost 4 months ago, Legendary Investments
has still not made an offer for the Company.

In these circumstances the Board of Moss Bros, which has been so advised by
Rothschild, believes it to be in the best interests of the Company and its
shareholders as a whole if Legendary Investments were to either announce it will
not proceed with an offer for the Company or announce a clear formal offer with
committed funds to the shareholders by 5.00 pm on 5 April 2002.

In providing its advice, Rothschild has placed reliance on the commercial
assessments of the Directors of Moss Bros.


Moss Bros

Keith Hamill, Chairman                  Telephone: 020 7353 4200

N M Rothschild & Sons                   Telephone: 020 7280 5000
Alex Midgen

Tulchan Communications                  Telephone: 020 7353 4200
Andrew Honnor

N M Rothschild & Sons Limited is acting exclusively for Moss Bros and no one
else in connection with the possible offer and will not be responsible to anyone
other than Moss Bros for providing the protections afforded to its clients or
for providing advice in relation to the possible offer.

The Directors of Moss Bros accept responsibility for the information contained
in this announcement.  To the best of the knowledge and belief of the Directors
of Moss Bros (who have taken all reasonable care to ensure that such is the
case) the information contained in this announcement is in accordance with the
facts and does not omit anything likely to affect the import of such

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

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