RNS Number:7934P
Charco 1058 Limited
16 September 2003

16 September 2003



               Embargoed until 07.30am, Tuesday 16 September 2003

    This document is not for release, publication or distribution in or into
      Australia, Canada, Japan, South Africa, Ireland or the United States

             RECOMMENDED CASH OFFER FOR HIGH-POINT RENDEL GROUP PLC

                  OFFER DECLARED UNCONDITIONAL IN ALL RESPECTS



Tenon Corporate Finance PLC ("Tenon") announces on behalf of Charco 1058 Limited
("Charco") that the recommended cash offer made by Tenon on behalf of Charco for
High-Point Rendel Group has been declared unconditional in all respects.

As at 3.00pm on 15 September 2003, Charco had received valid acceptances in
respect of 19,733,569 High-Point Rendel Group Shares, representing 72.0 per
cent. of the issued share capital of High-Point Rendel Group.  These acceptances
included acceptances from:

1)         Charco directors and their immediate families (being persons acting,
or deemed to be acting, in concert with Charco) in accordance with the
irrevocable undertakings given by them in respect of an aggregate of 167,254
High-Point Rendel Group Shares, representing 0.6 per cent. of the issued share
capital of High-Point Rendel Group; and

2)         other persons who had accepted the Offer in accordance with the
irrevocable undertakings given by them in respect of an aggregate of 14,976,497
High-Point Rendel Group Shares, representing 54.6 per cent. of the issued share
capital of High-Point Rendel Group.

Other than the foregoing, none of these acceptances had been received in respect
of High-Point Rendel Group Shares owned or controlled by persons acting in
concert with Charco or in respect of High-Point Rendel Group Shares subject to
irrevocable undertakings to accept the Offer.

On 11 July 2002, being the last dealing day prior to the commencement of the
Offer Period, persons acting, or deemed to be acting, in concert with Charco
held a total of 167,254 High-Point Rendel Group Shares representing 0.6 per
cent. of the issued share capital of High-Point Rendel Group and held options
under the High-Point Rendel Group Share Schemes over 725,950 High-Point Rendel
Group Shares representing 2.4 per cent. of the issued and to be issued share
capital of High-Point Rendel Group.

Save as disclosed above, neither Charco nor any persons acting, or deemed to be
acting, in concert with Charco owned or controlled any High-Point Rendel Group
Shares (or rights over such shares) immediately prior to the Offer Period and
since the commencement of the Offer Period neither Charco nor any such person
has acquired or agreed to acquire (other than pursuant to the Offer) any
High-Point Rendel Group Shares (or rights over such shares).

The consideration for the High-Point Rendel Group Shares in respect of which
valid acceptances have been received on or before the date of this announcement
will be despatched within the next 14 days.  Thereafter, consideration will be
despatched to High-Point Rendel Group Shareholders who validly accept the Offer
within 14 days of receipt of such acceptances, valid in all respects.

As stated in the Offer Document, Charco is seeking the cancellation of the
listing of High-Point Rendel Group Shares on the Official List of the UK Listing
Authority and of trading of High-Point Rendel Group Shares on the London Stock
Exchange's market for listed securities, such cancellations to take effect at
8.00am on 14 October 2003.

Such cancellations will significantly reduce the liquidity and marketability of
any High-Point Rendel Group Shares in respect of which the Offer is not
accepted.

The Offer will remain open for acceptance until further notice.

High-Point Rendel Group Shareholders who have not yet accepted the Offer and who
wish to do so should complete, sign and return their Form of Acceptance (sent
with the Offer Document) in accordance with the instructions printed thereon as
soon as possible.

The definitions set out or referred to in the Offer Document also apply in this
announcement.

Enquiries:
Charco 1058 Limited                 Kelvin Hingley                      Tel: 0207 654 0501
Tenon Corporate Finance PLC         Ian Beswick                         Tel: 0115 955 2000





The directors of Charco, whose names are Kelvin Hingley, William Trendell, John
Bradley, Nigel Bell, Sir Alan Cockshaw and Shekhar Shetty, together with Sheikh
Abdullah Al-Rushaid and Mr Rasheed A Al Rushaid being the partners in ARIC
("ARIC Partners"), accept responsibility for the information contained in this
announcement.  To the best of the knowledge and belief of the directors of
Charco and of the ARIC Partners (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.

Tenon Corporate Finance PLC, a subsidiary of Tenon Group PLC, which is
authorised by the Financial Services Authority for investment business
activities, is acting for Charco as financial adviser in relation to the Offer
and is not acting for any other person in relation to the Offer.  Tenon
Corporate Finance PLC will not be responsible to anyone other than Charco for
providing the protections afforded to its clients or for providing advice in
relation to the contents of this announcement or any transaction or arrangement
referred to herein.

The Offer is not being made, directly or indirectly, in or into, or by use of
the mails of, or by any means or instrumentality (including, without limitation,
facsimile transmission, electronic mail, telex or telephone) of interstate or
foreign commerce of, or any facilities of a national securities exchange of,
Australia, Canada, Japan, South Africa, Ireland or the United States.
Accordingly, copies of this announcement are not being, and must not be, mailed
or otherwise distributed or sent in or into or from Australia, Canada, Japan,
South Africa, Ireland or the United States, or in any other jurisdiction in
which such an offer or solicitation would be unlawful.


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

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