Watts Blake Bearne - Offers Extended/Acceptances

RNS No 8285q
WATTS, BLAKE, BEARNE AND COMANY PLC
29 March 1999

                                 
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED
STATES, CANADA OR JAPAN
                                 
                       S.C.R. - SIBELCO S.A.
                      ----------------------
             UNCONDITIONAL RECOMMENDED CASH OFFERS FOR
            ------------------------------------------
             WATTS, BLAKE, BEARNE AND COMPANY, P.L.C.
             ----------------------------------------
        LEVEL OF ACCEPTANCES AND EXTENSION OF OFFER PERIOD
        ---------------------------------------------------
                                 
In relation to the unconditional recommended cash offers (the
'Offers') by S.C.R. - Sibelco S.A. ('Sibelco') for Watts, Blake,
Bearne and Company, P.L.C. ('Watts Blake Bearne') Sibelco
announces that:-

          Ordinary Offer
          --------------

          By 3.00 p.m. on Friday, 26 March, 1999, the second
          closing date of the Ordinary Offer, valid acceptances of
          the Ordinary Offer had been received by Sibelco in
          respect of a total of 9,018,082 Ordinary Shares,
          representing approximately 42.7 per cent. of Watts Blake
          Bearne's issued ordinary share capital.  These
          acceptances include valid acceptances from the
          Independent Directors of Watts Blake Bearne and certain
          other persons, entities and institutional shareholders,
          in accordance with the irrevocable undertakings to
          accept the Ordinary Offer given by them, in respect of
          an aggregate of 5,384,435 Ordinary Shares, representing
          approximately 25.5 per cent. of Watts Blake Bearne's
          issued ordinary share capital.

          Prior to commencement of the offer period on 18 January,
          1999, Sibelco was beneficially interested in 11,386,824
          Ordinary Shares, representing approximately 53.9 per
          cent. of the issued ordinary share capital of Watts
          Blake Bearne.  Since the commencement of the offer
          period Sibelco has acquired a further 6,500 Ordinary
          Shares, representing approximately 0.03 per cent. of
          Watts Blake Bearne's issued ordinary share capital.

          Accordingly, Sibelco now owns or has received
          acceptances of the Ordinary Offer in respect of a total
          of 20,411,406 Ordinary Shares, representing
          approximately 96.5 per cent. of Watts Blake Bearne's
          issued ordinary share capital.

          Preference Offer
          ----------------

          By 3.00 p.m. on Friday, 26 March, 1999, the second
          closing date of the Preference Offer, valid acceptances
          of the Preference Offer had been received by Sibelco in
          respect of a total of 135,774 Preference Shares,
          representing approximately 92.9 per cent. of Watts Blake
          Bearne's issued preference share capital.  These
          acceptances include valid acceptances from the
          Independent Directors of Watts Blake Bearne and certain
          other persons, entities and institutional shareholders,

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