Forum Archive Index - May 2001

["DR" <kat47@bigfoot.com>]

Time Products PLC
15 May 2001


                              Time Products plc

                              Offer Talks Update

The Board of Time Products plc ('Time Products' or the 'Company') is pleased
to announce that agreement in principle has been reached between the
independent directors of Time Products and Mr Marcus Margulies, the Chairman
of Time Products, in relation to a possible recommended offer to be made by a
company to be formed and controlled by Mr Marcus Margulies ('Newco').

The possible offer, the formal announcement of which is subject to a number of
pre-conditions, would be at a price of 190 pence in cash per share.
Shareholders would be entitled to receive and retain the final dividend for
the year ended 31 January 2001 (which the directors have recommended) of 5.5
pence per share which is due to be paid on 27 July 2001. In addition,
arrangements would be made to enable the existing shareholders in the Company
to participate pro rata in any net proceeds received from any sale of the
Company's investment in Audemars Piguet SA, to the extent such net proceeds
exceed £4.25 million and provided such sale takes place within 5 years of the
offer by Newco becoming unconditional in all respects or the scheme of
arrangement becoming effective.

Guinness Peat Group plc, Morley Fund Management Limited and Edinburgh Fund
Managers plc, who together currently hold 34% of the issued share capital of
Time Products, have all indicated their support in principle for the potential
offer.

etc.

D.