Offer Update

RNS Number:9182C
C.I. Traders Limited
14 September 2004


NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN, INTO OR FROM THE UNITED STATES,
CANADA, AUSTRALIA OR JAPAN


                              For immediate release

 Recommended offer by Collins Stewart Limited on behalf of C.I. Traders Limited
                ("C.I. Traders") for ComProp Limited ("ComProp")

                                Offer Extension


Collins Stewart Limited on behalf of C.I. Traders announces that as at 3.00 p.m.
yesterday, 13 September 2004, valid acceptances of the recommended offer, made
on 23 August 2004, to acquire the entire issued and to be issued share capital
of ComProp not already held by C.I. Traders or a subsidiary of C.I. Traders (the
"Offer") have been received in respect of, in aggregate, 27,582,067 ComProp
Shares, representing approximately 77.36 per cent. of the existing issued share
capital of ComProp. In addition, subsidiaries of C.I. Traders hold a further
2,743,549 ComProp Shares, representing approximately 7.7 per cent. of the issued
share capital of ComProp

C.I. Traders is therefore pleased to announce that the Offer is hereby declared
unconditional as to acceptances and will remain open for acceptances until
further notice. The Mix and Match Election is now closed.

Of the total acceptances received as at 3.00 p.m. on 13 September 2004 as set
out above, valid acceptances in respect of 11,501,777 ComProp Shares,
representing approximately 32.26 per cent. of the existing issued share capital
of ComProp, have been received from persons acting in concert with C.I. Traders.

As at the close of business on 20 August 2004, the last business day prior to
the commencement of the Offer Period, C.I. Traders and persons acting in concert
with C.I. Traders held 14,373,286 ComProp Shares, representing approximately
40.32 per cent. of the existing issued share capital of ComProp.

Prior to the announcement of the Offer on 23 August 2004, C.I. Traders had
received irrevocable undertakings to accept, or procure acceptance of, the Offer
in respect of, in aggregate, 11,279,778 ComProp Shares, representing
approximately 31.6 per cent. of the existing issued share capital of ComProp.

Since 23 August 2004, other than as referred to herein, neither C.I Traders nor
any person acting in concert with C.I. Traders has acquired or agreed to acquire
any ComProp Shares (or rights over such ComProp Shares) other than pursuant to
the Offer.

ComProp Shareholders who have not yet accepted the Offer, and wish to do so, are
urged to complete and return their Forms of Acceptance as soon as possible.  The
Offer and acceptances under it remain on the terms and subject to the conditions
set out in the Offer Document.



Enquiries

Collins Stewart Limited, financial adviser to C.I. Traders
Andrew Dawber                              Telephone:  020 7523 8350



Terms defined in the Offer Document dated 23 August 2004 have the same meanings
in this announcement.

The Directors of C.I. Traders accept responsibility for the information
contained in this announcement.  To the best of the knowledge and belief of the
Directors of C.I. Traders (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.

Collins Stewart Limited is authorised and regulated by the Financial Services
Authority for investment business activities and is acting only for C.I. Traders
as financial adviser in relation to the Offer and is not acting for any other
person in relation to the Offer.  Collins Stewart Limited will not be
responsible to anyone other than C.I. Traders for providing the protections
afforded to its clients nor for providing advice in relation to the contents of
this announcement, the Offer or any other matter referred to herein.

The availability of the Offer to persons who are not resident in the Channel
Islands or the United Kingdom may be affected by the laws of the relevant
jurisdiction in which they are located.  Persons who are not resident in the
Channel Islands or the United Kingdom should inform themselves of, and observe,
any applicable requirements.

The Offer is not being made directly or indirectly in or into the United States,
Canada, Australia or Japan, except where permitted by applicable law.  Subject
to this exception, neither this announcement nor the Offer Document and/or the
Form of Acceptance may be distributed or sent in, into or from the United States
(whether by use of the mails or by any means or instrumentality of interstate or
foreign commerce,  Canada, Australia or Japan and doing so may render invalid
any purported acceptance.  Any person (including, without limitation, any
custodian, nominee or trustee) who may have a legal or contractual obligation to
forward this announcement, the Offer Document and/or the Form of Acceptance to
any jurisdiction outside the United Kingdom, should have regard to the above
provisions and if necessary take appropriate legal advice before taking any
action.

This announcement does not constitute, or form any part of any offer for or
solicitation of any offer for securities or any inducement to acquire or dispose
of any securities.



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