Further Statement re Share Price Movement

Manx & Overseas PLC 1 December 1999 Clarification of Previous Announcement The Board of Manx & Overseas Plc ('the Company') have noted the recent increase in the Company's share price and confirm that the Company is engaged in discussions which may, or may not, lead to an acquisition by the Company in due course. The Board has not received an Offer for the Company. 1st December 1999