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REUTERS ANNOUNCES TENDER OFFER ALLOCATION

 LONDON, Sept. 3 /PRNewswire/ -- Reuters announced on July 26 that it proposed to purchase from tendering shareholders up to 5.84 percent of the company's outstanding ordinary shares (including those represented by American Depositary Shares /ADSs/). The basis of acceptance is that shareholders who have submitted valid tenders will have their tendered shares purchased in full up to 5.84 percent of their beneficial holdings as at Aug. 25. Shares tendered in excess of this amount will be accepted pro rata to the total number of shares tendered in excess of entitled amounts. Reuters said today that based on the level of tenders received, it would purchase approximately 9.46 percent of those shares tendered in excess of the 5.84 percent entitlement.
 Reuters received valid tenders under the offer, which closed on Aug. 25, for 153,859,358 shares, representing 36.19 percent of the company's issued ordinary shares.
 Of the total of shares tendered, those in Pool "A" amounted to 11,335,992 shares. Pool "A" consists of those shares representing not more than 5.84 percent of shares beneficially owned by each tendering beneficial owner at the expiration date.
 Under the terms of the offer the total number of shares available for repurchase was 24,825,251. The number of shares available for purchase from Pool "B", containing the excess shares tendered, is therefore 13,489,259 giving the pro-ration percentage of approximately 9.46 percent. The number of shares purchased from each tendering shareholder will be rounded down to the nearest whole share for both Pool "A" and Pool "B".
 The proposed repurchase is subject to the passing of a special resolution by shareholders authorizing and approving it. Shareholders will consider the resolution at an extraordinary general meeting of the company to be held on Sept. 10, 1993. If the resolution is passed, there will be a total return of cash to shareholders of around 350 million pounds sterling.
 Proceeds received by shareholders on the purchase of their shares will be divided into an income element and a capital element for tax purposes. In accordance with the formula agreed with the Inland Revenue, the capital element has been determined by the number of shares in issue at Aug. 25 and is 1.16 pounds per ordinary share.
 Checks in respect of the proceeds from the sale of shares are expected to be distributed to ordinary shareholders on Sept. 13, 1993, and to holders of ADSs on Sept. 15, 1993.
 -0- 9/3/93
 /CONTACT: Robert Crooke, media relations of Reuters America Inc., 212-603-3587; Michael Cooling, corporate relations of Reuters Holdings PLC, in the U.K., 071-510-7703; Robin Budenberg of S.G. Warburg & Co. Ltd., in the U.K., 071-860-1090; or Jeremy Wilson, in the U.K., 071-600-2300, or Joseph Evangelisti, in New York, 212-648-9537, both of J. P. Morgan/


CO: Reuters Holdings PLC ST: IN: PUB SU: OFR

GK-TS -- NY004 -- 8695 09/03/93 08:05 EDT
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Publication:PR Newswire
Date:Sep 3, 1993
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