Withdrawal of Possible Offer

20th Mar 2006 14:42

Permira Advisers Limited20 March 2006 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN, INTO OR FROM AUSTRALIA, CANADA,JAPAN OR THE UNITED STATES 20 March 2006 PERMIRA ADVISERS LIMITED ("PERMIRA") WITHDRAWAL OF POSSIBLE OFFER FOR HMV GROUP PLC ("HMV") Permira notes the announcement of HMV on 13 March 2006 relating to its revisedproposal regarding a possible offer for HMV. Permira is disappointed at theresponse of the board and believes that the revised 210 pence cash per shareproposal represented a compelling proposition for the shareholders of HMV. Accordingly, in the light of the board's response, Permira has decided not toproceed. For the purposes of Rule 2.8 of The City Code on Takeovers and Mergers, Permirareserves the right to make or participate in an offer within the next six monthswith the agreement or recommendation of the board of HMV, or in the event that athird party announces a firm intention to make an offer for HMV, or HMVannounces a whitewash proposal or a reverse takeover. Enquiries: Finsbury Tel: +44 20 7251 3801Morgan BoneJames Wyatt-Tilby This information is provided by RNS The company news service from the London Stock Exchange

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Hmv Group