Suspension

Peel Hldgs PLC 12 August 2004 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA, JAPAN, REPUBLIC OF IRELAND OR SOUTH AFRICA 12 August 2004 FOR IMMEDIATE RELEASE Peel Holdings p.l.c. ('Peel') Suspension of Shares The Board of Peel announces that, following a request made to the London Stock Exchange yesterday on behalf of Peel, Peel's Ordinary Shares have been suspended from trading on AIM with immediate effect. The request was made in relation to the offer by Peel Acquisitions Limited to buy-out the minority shareholdings in Peel by way of a scheme of arrangement pursuant to section 425 of the Companies Act 1985. The suspension of the Ordinary Shares from trading on AIM is required to facilitate a share capital reorganisation which is to be effected prior to the final court hearing in relation to the Scheme and details of which were provided to Shareholders in the scheme circular posted to Shareholders on 30 June 2004. A further announcement will be made following the outcome of the final Court Hearing which is due to be heard on Monday 16 August 2004. Defined terms used in this announcement have the same meaning as in the circular posted to Shareholders on 30 June 2004. Enquiries: Peel Holdings p.l.c. Telephone: 0161 629 8200 Peter Scott N M Rothschild & Sons Limited Telephone: 0161 827 3800 Richard Bailey/ Andrew Thomas The Directors of Peel Holdings p.l.c accept responsibility for the information contained in this announcement. To the best of knowledge and belief of the Directors, who have taken all reasonable care to ensure 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 information. N M Rothschild & Sons Limited is acting for Peel Holdings p.l.c and no one else in connection with the possible transaction and will not be responsible to anyone other than Peel Holdings p.l.c for providing the protections afforded to clients of N M Rothschild & Sons Limited or for providing advice in relation to the possible transaction. This information is provided by RNS The company news service from the London Stock Exchange