AL. Alliance & Leic

    RNS Number : 4758F
  Alliance & Leicester PLC
  09 October 2008
   
    NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN OR INTO OR FROM CANADA, AUSTRALIA OR JAPAN OR ANY OTHER
JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

    FOR IMMEDIATE RELEASE

    Recommended acquisition 
    of 
    Alliance & Leicester plc 
    by 
    Banco Santander, S.A.
    to be implemented by means of a scheme of arrangement
under Part 26 of the Companies Act 2006 
    9 October 2008

    Confirmation of reduction in capital 

    Alliance & Leicester plc (the "Company") announces that the High Court of Justice of England and Wales today confirmed the reduction of
A&L's share capital comprised within the Scheme of Arrangement by which the recommended acquisition of A&L by Banco Santander, S.A. is to be
effected.

    The Acquisition remains conditional, inter alia, upon the Court Orders being delivered to, and, in the case of the Reduction Court
Order, registered by, the Registrar of Companies.

    It is expected that the Scheme shall become effective on 10 October 2008 and that dealings in A&L Shares will be suspended with effect
from 4.30 p.m. (London time) on 10 October 2008. Applications have been made to the UK Listing Authority for the cancellation of the
existing listing of A&L Shares on the Official List and to the London Stock Exchange for cancellation of the admission to trading of A&L
Shares on the London Stock Exchange's market for listed securities. It is expected that the existing listing of A&L Shares on the Official
List will be cancelled, and trading of A&L Shares on the London Stock Exchange will cease, with effect from 8.00 a.m. (London time) on 13
October 2008.
    
Unless stated otherwise above, the terms used in this announcement have the same meanings as set out in the Scheme Document dated 19 August
2008.

    - ends -
 Enquiries:
 Stuart Dawkins       +44 (0) 116 200 3088
 Ginny Broad          +44 (0) 116 200 2551
 Press Office         +44 (0) 116 200 3355
 Mark Jones           +44 (0) 116 200 4492
 (Investor
 Relations)

    The Directors of the Company accept responsibility for the information contained in this announcement and, to the best of their
knowledge and belief (having taken all reasonable care to ensure that such is the case), the information contained in this announcement is
in accordance with the facts and does not omit anything likely to affect the import of such information. 

    JPMorgan Cazenove, which is regulated in the United Kingdom by the Financial Services Authority, is acting exclusively for the Company
as financial adviser and no one else in connection with the Acquisition and will not be responsible to anyone other than the Company for
providing the protections afforded to customers of JPMorgan Cazenove nor for providing advice in relation to the Acquisition, or any matter
referred to herein.

    Morgan Stanley, which is regulated in the United Kingdom by the Financial Services Authority, is acting exclusively for the Company as
financial adviser and no one else in connection with the Acquisition and will not be responsible to anyone other than the Company for
providing the protections afforded to customers of Morgan Stanley nor for providing advice in relation to the Acquisition, or any matter
referred to herein.

    Rothschild, which is regulated in the United Kingdom by the Financial Services Authority, is acting exclusively for the Company as
financial adviser and no one else in connection with the Acquisition and will not be responsible to anyone other than the Company for
providing the protections afforded to customers of Rothschild or for providing advice in relation to the Acquisition, or any matter referred
to herein.

    Dealing Disclosure Requirements

    Under the provisions of Rule 8.3 of the City Code, if any person is, or becomes, "interested" (directly or indirectly) in one per cent.
or more of any class of "relevant securities" of Banco Santander or A&L, all "dealings" in any " relevant securities" of that company
(including by means of an option in respect of, or a derivative referenced to, any such "relevant securities") must be publicly disclosed by
no later than 3.30 pm (UK time) on the London business day following the date of the relevant transaction. This requirement will continue
until the date on which the Scheme becomes effective, or on which the "offer period" for the purposes of the City Code otherwise ends. If
two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire an "interest" in
"relevant securities" of Banco Santander or A&L, they will be deemed to be a single person for the purpose of Rule 8.3. Please consult your
financial advisor immediately if you believe this Rule may be applicable to you.
    Under the provisions of Rule 8.1 of the City Code, all "dealings" in "relevant securities" of Banco Santander or A&L by Banco Santander
or A&L, or by any of their respective "associates", must be disclosed by no later than 12.00 noon (UK time) on the London business day
following the date of the relevant transaction.
    A disclosure table, giving details of the companies in whose "relevant securities" "dealings" should be disclosed, and the number of
such securities in issue, can be found on the Panel's website at www.thetakeoverpanel.org.uk.
    "Interests in securities" arise, in summary, when a person has long economic exposure, whether conditional or absolute, to changes in
the price of securities. In particular, a person will be treated as having an "interest" by virtue of the ownership or control of
securities, or by virtue of any option in respect of, or derivative referenced to, securities.
    Terms above in quotation marks are defined in the City Code which can also be found on the Panel's website. If you are in any doubt as
to whether or not you are required to disclose a dealing under Rule 8 you should consult the Panel. 

This information is provided by RNS
The company news service from the London Stock Exchange
 
  END 
 
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