Compulsory Acqn of Shares

GPG (UK) Holdings PLC
09 May 2003


For immediate release

Not for release, publication or distribution in whole or in part in or into the
                   United States, Canada, Japan or Australia


                                                                     9 May, 2003


CASH OFFER BY AVENUE ACQUISITION PLC ('AVENUE ACQUISITION') FOR COATS PLC
('COATS')

                    'Compulsory acquisition notices posted'


The board of Avenue Acquisition announced on 29 April, 2003 that it had received
sufficient acceptances of the Coats Share Offer to entitle it to exercise its
rights under the provisions of sections 428 to 430F (inclusive) of the Companies
Act 1985 (the 'Act') to acquire compulsorily all outstanding Coats Shares to
which the Coats Share Offer relates. Accordingly, formal notices under section
429 of the Act have today been despatched to those Coats Shareholders who have
not yet accepted the Coats Share Offer.

Coats Shareholders should be aware that they may still accept the Coats Share
Offer, which remains open for acceptance until further notice, rather than wait
for their Coats Shares to be compulsorily acquired by Avenue Acquisition.


END


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