Result of EGM,etc

Peel Hldgs PLC 11 July 2000 Peel Holdings p.l.c. ('Peel' or the 'Company') Tender offers and purchase of shares by Peel Holdings p.l.c. approved by shareholders. The board of Peel announces that at the extraordinary general meeting of the Company and at separate class meetings of ordinary shareholders and convertible preference shareholders held earlier today, the proposed buyback of the Company's ordinary shares at 700 pence per share and its convertible preference shares at 250 pence per share up to a maximum of £80 million, pursuant to the terms of the share buyback contract to be entered into by the Company and Credit Lyonnais Securities, was approved by shareholders. Accordingly, Credit Lyonnais Securities has today agreed to purchase 8,517,560 ordinary shares, at 700 pence per share and 7,225,635 convertible preference shares at 250 pence per share from tendering shareholders under the terms of the tender offers. These shares will be dealt with in accordance with the share buyback contract. The shares represent approximately 11.5 per cent. of Peel's ordinary share capital (with full voting rights) and 31.4 per cent. of Peel's convertible preference share capital in issue on 23 June 2000. Enquiries: Peter Scott, Peel Holdings p.l.c. 0161 629 8200 Richard Bailey, N M Rothschild & Sons Limited 0161 827 3800 Chris Yates, Credit Lyonnais Securities 0207 588 4000