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onExchange, Inc.

OnExchange Inc. response to recommended cash offer for Rolfe & Nolan PLC

Boston, MA and London (ots)

Response to Recommended Cash Offer for Rolfe & Nolan PLC
onExchange Inc. ("onExchange") notes the recent announcement by
Maia Holdings Limited, a company backed by the HgCapital Funds and
Rolfe & Nolan management, of its offer to acquire the entire issued
and to be issued ordinary share capital of Rolfe & Nolan PLC ("Rolfe
& Nolan") at a price of 100 pence per share, the terms of the offer
and the terms of irrevocable undertakings which have been secured
from certain shareholders.  onExchange is currently undertaking due
diligence at Rolfe & Nolan and in the context of that due diligence
is considering whether or not to make an offer for Rolfe & Nolan.
A further announcement will be made in due course.
Campbell Lutyens & Co. Ltd, which is regulated by the Financial
Services Authority, is acting for onExchange and no one else in
connection with this announcement and will not be responsible to
anyone other than onExchange for providing the protections afforded
to clients of Campbell Lutyens & Co. Ltd or for giving advice in
relation to this announcement.
This announcement is not being made, directly or indirectly, in or
into Canada, Australia or Japan.  Accordingly, neither copies of this
announcement nor any related documentation are to be mailed or
otherwise distributed or sent in or into Canada, Australia or Japan.
Persons who are not resident in the United Kingdom should inform
themselves about and observe any applicable requirements.
This information is provided by RNS
The company news service from the London Stock Exchange


Richard Jaycobs - Chief Executive Officer
Tel. +1/617/665‘91‘05

Campbell Lutyens & Co. Ltd
Matthew Hall
Tel. +44/20/7439‘7191

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  • 16.12.2002 – 10:04

    Oneexchange, Inc. announces its response to speculation of an offer for Rolfe & Nolan PLC

    Boston (ots) - onExchange, Inc. announces today, in response to public speculation that it has recently made an approach to acquire Rolfe & Nolan, a clarification of its recent discussions with Rolfe & Nolan. onExchange approached the board of Rolfe & Nolan, by letter on 29 July 2002 with a conditional, indicative all-cash offer of 85 pence per Rolfe & Nolan share. ...