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RNS Number : 2106U

MWB Business Exchange Plc

21 December 2012

The following amendment has been made to the 'Response to statements by Regus plc and Rule 2.10' announcement released on 21/12/12 at 16:00 under RNS No 1975U.

The addition of the International Securities Identification Number ("ISIN") within the Rule 2.10 part of the announcement.

All other details remain unchanged.

21 December 2012

MWB Business Exchange Plc ("BX")

Response to statements by Regus plc and by the Joint Administrators on behalf of MWB Group Holdings Plc (in administration)

Rule 2.10 announcement - Relevant Securities in issue

The Board of BX notes today's statement by Regus announcing the terms of a cash offer by MAL (a wholly-owned subsidiary of Regus) for the entire issued and to be issued share capital of BX at a price of 61.576 pence per BX Share; and also today's announcement by the Joint Administrators of MWB that they are now commencing a sale process for some or all of the 75.22% of the BX Shares currently held by an indirect wholly-owned subsidiary of MWB.

The Board of BX emphasises that the Marketing Period under the sale process being conducted by the Joint Administrators will run until 16 February 2013, that the sale process may or may not result in the receipt of a higher offer for the BX Shares than the Regus Offer; and that, even if the sale process does not result in a higher offer for the BX Shares than the Regus Offer, that Regus is bound by today's announcement to proceed with the Regus Offer in any event. Accordingly, the Board of BX encourages minority shareholders in BX to take no action and to await further developments.

BX continues to make good progress as an independent business and, as noted within the annual report and financial statements for the financial year ended 30 June 2012, the positive momentum generated in the second half of the 2011/12 financial year has been sustained in the current period.

In accordance with Rule 2.10 of the City Code on Takeovers and Mergers (the "Code"), BX confirms that, as at the date of this announcement, it has in issue 64,959,912 ordinary shares of 0.1 pence each. The International Securities Identification Number ("ISIN") of the MWB Business Exchange plc ordinary shares is GB00B0S53N07.

Ends

Contacts

MWB Business Exchange Plc

John Spencer Chief Executive 020 7868 7268

Andrew Blurton, Corporate Finance Director 020 7868 7321

Nplus1 Singer Advisory LLP 020 7496 3000

Sandy Fraser

Baron Philips Associates 020 7920 3161

Baron Philips

Definitions

Defined Terms used in this announcement, unless otherwise specified, have the meanings ascribed to them within the announcement of the Regus Offer and/or the statement by the Joint Administrators on behalf of MWB released earlier today.

Disclosure requirements of the Takeover Code (the "Code")

Under Rule 8.3(a) of the Code, any person who is interested in 1% or more of any class of relevant securities of an offeree company or of any paper offeror (being any offeror other than an offeror in respect of which it has been announced that its offer is, or is likely to be, solely in cash) must make an Opening Position Disclosure following the commencement of the offer period and, if later, following the announcement in which any paper offeror is first identified. An Opening Position Disclosure must contain details of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any paper offeror(s). An Opening Position Disclosure by a person to whom Rule 8.3(a) applies must be made by no later than 3.30 pm (London time) on the 10th business day following the commencement of the offer period and, if appropriate, by no later than 3.30 pm (London time) on the 10th business day following the announcement in which any paper offeror is first identified. Relevant persons who deal in the relevant securities of the offeree company or of a paper offeror prior to the deadline for making an Opening Position Disclosure must instead make a Dealing Disclosure.

Under Rule 8.3(b) of the Code, any person who is, or becomes, interested in 1% or more of any class of relevant securities of the offeree company or of any paper offeror must make a Dealing Disclosure if the person deals in any relevant securities of the offeree company or of any paper offeror. A Dealing Disclosure must contain details of the dealing concerned and of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any paper offeror, save to the extent that these details have previously been disclosed under Rule 8. A Dealing Disclosure by a person to whom Rule 8.3(b) applies must be made by no later than 3.30 pm (London time) on the business day following the date of the relevant dealing.

If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire or control an interest in relevant securities of an offeree company or a paper offeror, they will be deemed to be a single person for the purpose of Rule 8.3.

Opening Position Disclosures must also be made by the offeree company and by any offeror and Dealing Disclosures must also be made by the offeree company, by any offeror and by any persons acting in concert with any of them (see Rules 8.1, 8.2 and 8.4).

Details of the offeree and offeror companies in respect of whose relevant securities Opening Position Disclosures and Dealing Disclosures must be made can be found in the Disclosure Table on the Takeover Panel's website at www.thetakeoverpanel.org.uk, including details of the number of relevant securities in issue, when the offer period commenced and when any offeror was first identified. You should contact the Panel's Market Surveillance Unit on +44 (0)20 7638 0129 if you are in any doubt as to whether you are required to make an Opening Position Disclosure or a Dealing Disclosure.

N+1 Singer Advisory LLP ("N+1 Singer"), which is authorised and regulated by the FSA, is acting exclusively for BX and no one else in connection with the Regus Offer and will not be responsible to anyone other than BX for providing the protections afforded to clients of N+1 Singer or for providing advice in relation to the Regus Offer or this announcement or any other matters referred to in this announcement.

Publication on Website

A copy of this announcement will be available on the website of the Company at www.mwbex.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

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