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RNS Number : 7673H

Terra Firma Investments (GP) 3 Ltd

02 June 2011

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.

2 June 2011

 
 STATEMENT FROM TERRA FIRMA INVESTMENTS 
       (GP) 3 LTD ("TERRA FIRMA") 
--------------------------------------- 
   NO INTENTION TO MAKE AN OFFER FOR 
    CHAUCER HOLDINGS PLC ("CHAUCER")

Further to its announcement on 8 February 2011 and upon request from the UK Panel on Takeovers and Mergers, Terra Firma today announces that it has no current intention of making an offer for Chaucer.

For the purposes of Rule 2.8 of The City Code on Takeovers and Mergers, Terra Firma (on behalf of itself and anyone acting in concert with it) reserves the right to announce, make or participate in an offer or possible offer for Chaucer (and/or take any other action which would otherwise be restricted under Rule 2.8 of the Takeover Code) within 6 months following the date of this announcement: (i) if the offer announced on 20 April 2011 by The Hanover Insurance Group, Inc. for the entire issued and to be issued ordinary share capital of Chaucer lapses, is withdrawn, fails to become unconditional in accordance with its terms (as set out in its announcement) or does not succeed for any other reason; (ii) with the agreement or recommendation of the board of directors of Chaucer; (iii) following the announcement by or on behalf of Chaucer of a "whitewash" proposal (for the purposes of Note 1 on the dispensation from Rule 9 of the Takeover Code) or a reverse takeover; or (iv) if there is a material change in circumstances.

Contacts

 
 Finsbury         Tel: +44 20 7251 3801 
  Andrew Dowler

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