TRH
07/11/2003
TAKEOVER
REL: 1502 HRS Tranz Rail Holdings Limited
TAKEOVER: TRH: Notice of Variation of Takeover Offer for TRH
Toll Holdings Limited has provided the following Notice of Variation of
Takeover Offer for Tranz Rail Holdings Limited ("Tranz Rail") pursuant to
Rule 24(3) of the Takeovers Code
Dear Tranz Rail Shareholders and Optionholders
We refer to our offer dated 26 July 2003 to acquire up to 100% of the shares
and options of Tranz Rail ("the Offer") which is now unconditional.
Toll hereby gives notice that pursuant to Rule 24(3) of the Takeovers Code
the Offer is being varied by extending the date by which acceptances of the
Offer must be received to 6.00pm on 22 December 2003.
Other than the extension of the offer period all other terms of the Offer
remain the same. If you have already accepted the Offer, those acceptances
will remain valid.