TLD Teesland

RNS Number:7381P
Teesland Plc
18 January 2007



                   Teesland Plc ("Teesland" or "the Company")


         Response to announcements by SCAMP Holdings Limited ("SCAMP")
                                       &
  Reiteration of the recommendation of the Offer by the Independent Directors


Notice of Termination of Contracts by SCAMP ("Notice of Termination")


The Board of Teesland ("Board") has noted the announcement today by SCAMP
regarding the termination of contracts. The Board confirms that the Company has
received notice from SCAMP that its existing Project Management contracts with
Teesland will not be renewed upon their expiry in August 2007 and that its
European Asset Management and Acquisition Contracts with Teesland will terminate
upon the expiry of six months notice, as permitted by the terms of these
contracts.


Once these terminations and non-renewals take effect, the Board of Teesland
believes that, under the current business plan, the Company will suffer a
significant shortfall in revenues that will materially affect the management's
current expectations for the overall performance of the business from August
2007.


Appointment of certain Teesland directors to the Boards of subsidiaries of SCAMP


The Board also notes the appointment of certain executive directors of Teesland
to the boards of subsidiary companies of SCAMP.  Having sought assurances from
the Offeror, the Board understands that these appointments will not be in
contravention of their duties and obligations as executive directors of
Teesland.


Recommended Cash Offer for Teesland by SCAMP



In accordance with the terms and conditions set out in the Offer Document and
following the announcement of the extension of the Offer by Scamp, the Offer by
SCAMP remains open for acceptance until 1.00 p.m. on 26 January 2007, or such
later times and/or dates as SCAMP may, subject to the rules of the City Code,
decide.



The Independent Directors note that, as at 15 January 2007, Polygon Global
Opportunities Master Fund ("Polygon") had acquired a 23.02% per cent. interest
in Teesland through contracts for differences.  Despite efforts to clarify
Polygon's intentions, the Independent Directors remain unclear as to Polygon's
intentions regarding its interest.  The Independent Directors confirm that,
other than the Offer made by SCAMP, Teesland has received no other approaches.



The Independent Directors note that, in the event that acceptances are received
which are insufficient to the Offeror, the Offer may not be declared
unconditional as to acceptances by the Offeror and the Offer may lapse.  In
these circumstances, and in the event that no other offer is forthcoming,
Teesland's share price may fall significantly below the offer price of 159.25
pence per Teesland Share.  The Independent Directors also note that, in the
circumstances of the Offer lapsing, any fall in Teesland's share price may be
exacerbated by the loss of SCAMP's business.



The Independent Directors, who have been so advised by Kaupthing, continue to
consider the terms of the Offer to be fair and reasonable.  In giving its advice
to the Independent Directors, Kaupthing has taken into account the commercial
assessments of the Independent Directors.  The Independent Directors believe
that the Offer is in the best interests of Teesland Shareholders as a whole and
unanimously recommend that Teesland Shareholders accept the Offer, as they have
done in respect of their own beneficial holdings.  Consequently, and in the
light of current circumstances, Teesland Shareholders are urged strongly to
accept the Offer as soon as possible.





Enquiries:
Kaupthing (Financial Adviser to Teesland)               Tel: +44 (0)20 3205 5000
Penelope Bridges
Nicholas How


Financial Dynamics (Financial Public Relations 
   Adviser to Teesland)                                 Tel: +44 (0)20 7831 3113
Ed Bridges
Dido Laurimore




Capitalised terms used, but not defined in this announcement, have the same
meaning as given to them in the Offer Document.


Responsibility


The Teesland Directors accept responsibility for the information contained in
this announcement relating to Teesland Plc.  To the best of the knowledge and
belief of the Teesland Directors (who have taken all reasonable care to ensure
that such is the case), the information contained in this announcement for which
they are responsible is in accordance with the facts and does not omit anything
likely to affect the import of such information.



The Independent Directors accept responsibility for the recommendation and
associated opinions contained in this announcement. To the best of the knowledge
and belief of the Independent Directors (who have taken all reasonable care to
ensure that such is the case), the information contained in this announcement
for which they are responsible is in accordance with the facts and does not omit
anything likely to affect the import of such information.

General


Kaupthing, which is authorised and regulated in the United Kingdom by the
Financial Services Authority, is acting exclusively for Teesland and no one else
in connection with the Offer and will not be responsible to anyone other than
Teesland for providing the protections afforded to its customers or for
providing advice in relation to the Offer, the contents of this announcement or
any transaction or arrangement referred to therein.



This announcement is not intended to and does not constitute, or form any part
of, any offer to sell or any solicitation of any offer to purchase or subscribe
for any securities or the solicitation of any vote or approval in any
jurisdiction.  Any acceptance or other response to the Offer should be made only
on the basis of the information contained or referred to in the Offer Document
and the Form of Acceptance.  The laws of relevant jurisdictions may affect the
availability of the Offer to persons not resident in the United Kingdom.
Persons who are not resident in the United Kingdom, or who are subject to the
laws of any jurisdiction other than the United Kingdom, should inform themselves
about and observe any applicable legal or regulatory requirements of their
jurisdiction.  The Offer Document is available for public inspection.



Unless otherwise determined by SCAMP, the Offer is not being made, directly or
indirectly, in, into or from or by the use of mails of, or by any means of
instrumentality (including, without limitation, telephonically or
electronically) of interstate or foreign commerce of, or through any facilities
of a national securities exchange of the United States, Canada, Australia or
Japan and the Offer is not capable of acceptance by any such use, means,
instrumentality or facilities or from or within the United States, Canada,
Australia or Japan.  Accordingly, copies of this announcement are not being, and
must not be, mailed or otherwise forwarded, distributed or sent in, into or from
the United States, Canada, Australia or Japan and persons receiving this
announcement (including, without limitation, custodians, nominees and trustees)
must not mail or otherwise forward, distribute or send it in, into or from any
such jurisdiction.  Doing so may render invalid any purported acceptance of the
Offer.

END




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