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Friday 08 March, 2002

Shami Ahmed

Re Panel Statement

Shami Ahmed
8 March 2002

Shami Ahmed

Ruling from the Takeover Panel

Mr Shami Ahmed has noted the announcement made today, 8 March 2002, by the
Takeover Panel (the 'Panel') concerning a possible offer for Moss Bros Group PLC
('Moss Bros' or the 'Company') (the 'Proposed Offer').

As Mr Ahmed stated in his announcement of 7 March 2002, he intends, following
limited due diligence and agreement on the terms of an offer with the board of
Moss Bros (the 'Board'), to make an offer for Moss Bros in cash at around the
Company's current net asset value per share. In their announcement of 7 March
2002, the Board stated that the latest published net asset value per share was
51 pence but that the Company had suffered further losses. Mr Ahmed made clear
that financial support for the Proposed Offer is in place, subject to due
diligence, and that his approach enjoys the full support of his bank and equity
providers. He has said that limited due diligence to confirm valuation could be
completed very quickly with little, if any, disruption to the business and
reinforced his commitment with an offer to pay a break fee of £250,000, if terms
were agreed but an offer was not made.

Mr Ahmed believes that Moss Bros shareholders are being denied the opportunity
of receiving an attractive cash offer by the actions of the Board and that the
Board is failing to act in the interests of all shareholders. He believes that
Moss Bros shareholders would like to be given the opportunity to accept the
Proposed Offer. He will continue to pursue his interest in Moss Bros and is
discussing his position with major shareholders.

Commenting on the Panel's ruling, Mr Ahmed said:

'I believe that Moss Bros shareholders would like to be given the opportunity to
accept a fair offer but the board of Moss Bros is denying them that option. We
will continue to try to persuade the board to act in all shareholders' interests
and work with us towards an attractive offer but this situation is now in the
hands of the shareholders.'

For further information contact:

Richard Darby, Richard Oldworth

Buchanan Communications                              020 7466 5000

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


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