CRK Clerkenwell

RNS No 4607h
CARISBROOKE SHIPPING PLC
15 July 1999

                           CARISBROOKE SHIPPING PLC                           

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

               Cash Offer by Arthur Andersen Corporate Finance                
        on behalf of Antilope Investments plc ("Antilope Investments")        
                 for Carisbrooke Shipping plc ("Carisbrooke")                 
                Offer unconditional as to acceptances                

The board of Antilope Investments announces that the cash offer made by Arthur
Andersen Corporate Finance, on behalf of Antilope Investments, for the entire
issued share capital of Carisbrooke ("the Offer") has been declared
unconditional as to acceptances.  The Offer and the Loan Note Alternative will
remain open for acceptance until further notice.

As at 3.00 p.m. on 14 July 1999, the first closing date of the Offer, valid
acceptances under the Offer have been received in respect of 6,262,632
Carisbrooke Shares, representing approximately 61.77 per cent. of the issued
share capital of Carisbrooke.  Accordingly, the Offer has been declared
unconditional as to acceptances.

Antilope Investments is a newly incorporated company formed for the purpose of
making the Offer.

As disclosed in the Offer document dated 23 June 1999 ("the Offer Document"),
Antilope Investments has received irrevocable undertakings to accept the Offer
in respect of 1,117,835 Carisbrooke Shares held by the directors of
Carisbrooke representing 11.03 per cent. of the issued share capital of
Carisbrooke and 2,494,925 Carisbrooke Shares held by various individuals and
institutions representing 24.61 per cent of the issued share capital of
Carisbrooke.  Valid acceptances have been received in respect of 3,595,185
Carisbrooke Shares subject to these undertakings and are included in the above
total.

In addition, as disclosed in the Offer document, Antilope Investments has
entered into a Share Purchase Agreement dated 22 June 1999 with W.Wester,
G.Croucher and R.McCain to acquire 2,536,000 Carisbrooke Shares, representing
approximately 25.02 per cent. of the issued share capital of Carisbrooke ("the
Share Purchase Agreement").  The Share Purchase Agreement is conditional upon
the Offer becoming or being declared unconditional in all respects.  

The total number of Carisbrooke Shares subject to either the irrevocable
undertakings to accept the Offer or the Share Purchase Agreement amounted to
6,148,760 Carisbrooke Shares, representing approximately 60.65 per cent. of
Carisbrooke's issued share capital.

Antilope Investments has now received valid acceptances under the Offer, or
will acquire under the Share Purchase Agreement, assuming that the Offer is
declared unconditional in all respects, a total of 8,798,632 Carisbrooke
Shares, representing approximately 86.79 per cent of Carisbrooke's issued
share capital.

Prior to the commencement of the offer period on 23 June 1999, save as
disclosed in the Offer Document, neither Antilope Investments nor any person
acting in concert with it owned any Carisbrooke Shares (or rights over such
shares) nor since that date (other than as disclosed above) has Antilope
Investments or any person acting in concert with it acquired or agreed to
acquire any Carisbrooke Shares (or rights over such shares).

Words defined in the Offer Document shall have the same meanings in this
announcement unless the context otherwise requires.

Press enquiries:

Antilope Investments - 01983 284100 - Willem Wester / Ron Robson

Arthur Andersen Corporate Finance - 0121 233 2101 - Nick Maslen

Rowan Dartington - 0117 921 3206 - John Wakefield / Barrie Newton

The directors of Antilope Investments accept responsibility for the
information contained in this announcement.  To the best of the knowledge and
belief of the directors of Antilope Investments (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.

Arthur Andersen Corporate Finance, a division of Arthur Andersen, which is
authorised by the Institute of Chartered Accountants in England and Wales to
carry on investment business, is acting for Antilope Investments and for no
one else in connection with the Offer and will not be responsible to anyone
other than Antilope Investments for providing the protections afforded to
customers of Arthur Andersen Corporate Finance or for providing advice in
relation to the Offer.
 
Rowan Dartington & Co. Limited, which is a member of the London Stock Exchange
and is regulated in the United Kingdom by The Securities and Futures Authority
Limited, is acting for Carisbrooke and no one else in connection with the
Offer and will not be responsible to anyone other than Carisbrooke for
providing the protections afforded to customers of Rowan Dartington & Co.
Limited, or for providing advice in relation to the Offer.

This announcement, which is the sole responsibility of Antilope Investments,
has been approved by Arthur Andersen Corporate Finance solely for the purpose
of section 57 of the Financial Services Act 1986.




END

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