BS. Base Grp.

RNS No 7469d
BRITISH STEEL PLC
10 August 1999


Not for release, publication or distribution in or into the United States. 
The proposed public offer for Hoogovens ordinary shares (and Dutch depositary
receipts therefor) will not be made in or into the United States.



                                British Steel plc

                              Recommended merger of 
                the British Steel Group and the Hoogovens Group


The boards of British Steel plc ("British Steel") and Koninklijke Hoogovens
N.V. ("Hoogovens") announce that shareholder documentation in respect of the
merger of their respective groups ("the Merger") was published yesterday.

A circular and listing particulars were posted to British Steel Shareholders
and an offer document and listing particulars were posted to registered
holders of Hoogovens Ordinary Shares.


Enquiries:

British Steel                                                   0171 314 5501
John Bowden                                          

This announcement is not an extension of the proposed public offer for
Hoogovens ordinary shares (and Dutch depositary receipts therefor), directly
or indirectly, in or into the United States, and it will not be permitted to
be accepted in or from the United States.  Accordingly, no public offer will
be made for Hoogovens's American Depositary Shares.

This press release has been issued by British Steel and Hoogovens.  It has
been approved by Credit Suisse First Boston (Europe) Limited ("Credit Suisse
First Boston") and Warburg Dillon Read, a division of UBS AG ("Warburg Dillon
Read") for the purposes of section 57 of the Financial Services Act 1986.

Credit Suisse First Boston, which is regulated in the United Kingdom by The
Securities and Futures Authority Limited, is acting for British Steel and
no-one else in connection with the Merger and will not be responsible to
anyone other than British Steel for providing the protections afforded to
customers of Credit Suisse First Boston, nor for providing advice in relation
to the Merger.

Warburg Dillon Read, which is regulated in the United Kingdom by The
Securities and Futures Authority Limited, is acting for Hoogovens and no-one
else in connection with the Merger and will not be responsible to anyone other
than Hoogovens for providing the protections afforded to customers of Warburg
Dillon Read, nor for providing advice in relation to the Merger.

END

MSCSSLFLUUUUFLA

Base Group (LSE:BS.)
Historical Stock Chart
From Jul 2024 to Jul 2024

Base Group (LSE:BS.)
Historical Stock Chart
From Jul 2023 to Jul 2024