RNS Number:4645M
Renlin Limited
18 June 2003



Renlin Limited

18 June 2003


Not for release, publication or distribution, in whole or in part, in or into or
               from Australia, Canada, Japan or the United States


Recommended cash offer by IBI Corporate Finance Limited on behalf of Renlin
Limited ('Renlin') for the issued and to be issued ordinary share capital of
Sherry FitzGerald Group plc ('Sherry FitzGerald') not already in the beneficial
ownership of Renlin (the 'Offer').

The board of Renlin announced on 22 May 2003, that valid acceptances of the
Offer had been received in respect of more than four-fifths of the Sherry
FitzGerald Shares Affected and that the Offer had been declared unconditional in
all respects.

On 5 June 2003, Renlin issued notices under Section 204 of the Companies Act,
1963 to those Sherry FitzGerald Shareholders who had not yet validly accepted
the Offer, informing them that it intends to exercise its rights to acquire
compulsorily all the Sherry FitzGerald Shares outstanding at the expiry of the
requisite notice period. The compulsory acquisition procedure is expected to be
completed on, or shortly after, 4 July 2003.

The Offer remains open for acceptance. Sherry FitzGerald Shareholders who wish
to accept the Offer, and who have not done so, should return their Form(s) of
Acceptance as soon as possible to Computershare Investor Services (Ireland)
Limited, Heron House, Corrig Road, Sandyford Industrial Estate, Dublin 18,
Ireland, who are the receiving agents to the Offer. Additional Forms of
Acceptance are available upon request from Computershare Investor Services
(Ireland) Limited by telephone on +353 1 216 3100. Sherry FitzGerald
Shareholders who validly accept the Offer will receive the consideration due to
them within 14 days of such acceptance in accordance with the terms of the
Offer.

Renlin announces that the notice period in respect of the de-listing and
cancellation of trading of Sherry FitzGerald Shares on the Developing Companies
Market of the Irish Stock Exchange and on the Alternative Investment Market of
the London Stock Exchange has commenced and that the listings of Sherry
FitzGerald Shares will be cancelled on 15 July 2003.

Terms defined in the Offer Document dated 1 May 2003, have the same meaning in
this announcement. Renlin reserves all of its rights under the Offer.

Enquiries:

Renlin

Murray Consultants          Telephone: +353 1 498 0300

Jim Milton                  Mobile: +353 86 255 8400

The Offer is not being made, directly or indirectly, in, into or from or by the
use of the United States mails, or by any means or instrumentality (including,
without limitation, telephonically or electronically) of United States
interstate or foreign commerce, or any facility of a United States national
securities exchange, nor is it being made in or into, Australia, Canada or Japan
and the Offer should not be accepted by any such use, means, instrumentality or
facility, or from within Australia, Canada, Japan or the United States.
Accordingly, copies of this announcement, the Offer Document and the Form of
Acceptance and any related offering documents are not being, and must not be
mailed, forwarded, sent, transmitted, or otherwise distributed in, into or from
Australia, Canada, Japan or the United States and persons receiving such
documents (including without limitation custodians, nominees and trustees) must
not distribute, forward, mail or otherwise transmit or send them in, into or
from Australia, Canada, Japan or the United States and doing so may invalidate
any purported acceptance of the Offer.

IBI Corporate Finance, which is regulated by the Irish Financial Services
Regulatory Authority, is acting exclusively for Renlin and no one else in
connection with the Offer and will not be responsible to anyone other than
Renlin for providing the protections afforded to clients of IBI Corporate
Finance or for providing advice in relation to the Offer, the contents of this
announcement or any transaction or arrangement referred to herein.

The directors of Renlin and Pat Ridge and Walter Coakley accept responsibility
for the information contained in this announcement. To the best of the knowledge
and belief of the directors of Renlin and Pat Ridge and Walter Coakley (who have
taken all reasonable care to ensure that 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.


                      This information is provided by RNS
            The company news service from the London Stock Exchange

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