The Board of Woolworths has received an indicative proposal from Apax Partners
Europe Managers Ltd to make an Offer for the Company in the range of 50-55p per
share. This indicative proposal is subject to a number of pre-conditions
including access to the Company's financial and trading information.
The Board, with its advisers, has considered this indicative proposal carefully.
It has concluded that the range indicated does not provide acceptable value or
certainty to justify entering into detailed discussions with Apax.
HANG ON A MO 10,000,000 BUY ORDERS PUT IN AFTER 16:30 UP CAN KEEP YOUR PELLETS IM GOING TO SIT IN THE TREE UP (HIGH) COZ THATS WERE ME SHARES WILL BE TOMMO WITH ANY LOOK!!!!