| Indicative offer for Coffee Republic |
| 19 November 2002 |
Further to today's media speculation, Caffe Nero confirms that it has made an offer for Coffee Republic Plc ('Coffee Republic') which values Coffee Republic at a substantial premium to the current share price.
Coffee Republic has indicated that its Board has rejected Caffe Nero's offer.
Caffe Nero is disappointed at Coffee Republic's response to what it considers a fair value for the company and remains interested in acquiring Coffee Republic at a price which meets with the aspirations of the shareholders of both companies.
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