Statement Re Offer Approach

WALKER GREENBANK PLC 27 August 1999 WALKER GREENBANK PLC The board of Walker Greenbank PLC has noted the recent speculation surrounding the Group. The board has subsequently received a second tentative approach from parties associated with Charles Wightman, the former Chief Executive of the company, which may or may not have led to an offer being made for the issued share capital of Walker Greenbank. This second tentative approach, backed by a private equity investor, was at an inadequate price and follows an earlier approach about which the board issued a statement on July 14. Accordingly, the board has rejected this approach which it felt did not fairly reflect the operational improvements currently being made by Walker Greenbank, its asset value, or the prospects for the group. As previously stated, the board continues with its strategy to deliver shareholder value. Enquiries to: Aidan Connolly, Chief Executive, Walker Greenbank PLC Tel: 0144 223 4666 John Rudofsky, Citigate Dewe Rogerson Tel: 0207 638 9571 Dick Barlow, KPMG Corporate Finance Tel: 0207 311 8051