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26/11/1999

Bass Offers Undertaking to Gain Full Clearance of Punch Deal

Bass Offers Undertaking to Gain Full Clearance of Punch Deal

Bass Acquisition of Allied Domecq Outlets Approved Subject to Limited Undertakings

The Secretary of State has today announced that, subject to suitable undertakings being given, Bass' acquisition of 550 ex-Allied Domecq pubs and restaurants from the Punch Group will not be referred to the Competition Commission.

Bass is willing to give the appropriate undertakings which relate to local concentration of pub ownership in 4 out of the 505 licensing districts (Petty Sessional Districts) in the country. Bass is confident that such undertakings can be given without reducing the value of the transaction to its shareholders.

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For further information, please contact:

Pugh Phillips, Director of Group Communication   0171 409 1919
Mark Rigby, Media Relations   0171 409 8571
Jonathan Atack, Investor Relations   0171 409 8153

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