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Statement following Share Price Rise


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2 September 2004

The Board of Countryside Properties notes the recent rise in its share price and announces that it has received a preliminary approach, led by the Chairman of Countryside Properties, Alan Cherry, with the support of the executive management, which may lead to a cash offer being made for the Company.

Matters are at an early stage and there is no certainty that any offer will be made.



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Information correct as at 02/09/2004