Announcement to ASX re Thakral Family Holding

Announcement to ASX re Thakral Family Holding

29-Jan-2001

Attached hereto is a letter the company has received from the Thakral family.

Please provide us with your confirmation of release announcement.

Yours faithfully,


Andrew Horne
Company Secretary


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PRIVATE & CONFIDENTIAL

By facsimile

27 January 2001

Mr A E Harris AC
Chairman
Thakral Holdings Limited
Level 4
100 William Street
Sydney NSW 2011



Dear Mr Harris

I wish to advise you and the Board that the Thakral family have entered discussions with a party which might result in the disposal of their shares in Thakral Holdings Limited and which would lead to corresponding offers or proposals being made to all other THL shareholders.

These discussions are at an early stage and it is hoped to be able to advise you of further details within the next month.

The Thakral family has been prepared to enter into these discussions because we believe that notwithstanding the company's continuing excellent results, the market has penalised THL because of its lack of size and either a merger or outright sale might therefore be in the interests of all shareholders. The family is committed to the success of THL and will not dispose of its interest unless full value can be achieved for all shareholders.

Please be advised that I have sent simultaneously a copy of this letter to Australian Stock Exchange of Sydney.

Yours sincerely



KARTAR SINGH THAKRAL
GROUP CHAIRMAN

Copy to:

Manager
Company Announcements Office
Australian Stock Exchange Limited
Fax no: 61-2-97780999

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