CWD.L Regulatory News (CWD)

2 May 2007 16:16

Second paragraph should read: " In order to become effective in accordance with its terms, the Court must sanction the Scheme at tomorrow¢â‚¬â„¢s Scheme Court Hearing and subsequently confirm the associated Reduction of Capital at the Reduction Court Hearing. A further announcement will be made following tomorrow ¢â‚¬â„¢s Scheme Court Hearing, including an update on the timing of the Reduction Court Hearing and the Effective Date".

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN OR INTO OR FROM ANY JURISDICTION (INCLUDING THE UNITED STATES) WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE LAWS OF SUCH JURISDICTION

FOR IMMEDIATE RELEASE 2 May 2007 RECOMMENDED CASH AND SECURITIES OFFER FOR COUNTRYWIDE PLC

Further to the announcement made yesterday of a revised offer for the Company by Castle Bidco, the Company announces that it has scheduled a hearing by the Court of the petition to sanction the Scheme of Arrangement to take place at 2.00 p.m. on 3 May 2007. The Company will also be seeking the Court's approval (with Castle Bidco's consent) to modify the Scheme in accordance with the Revised Offer.

In order to become effective in accordance with its terms, the Court must sanction the Scheme at tomorrow's Scheme Court Hearing and subsequently confirm the associated Reduction of Capital at the Reduction Court Hearing. A further announcement will be made following tomorrow's Scheme Court Hearing, including an update on the timing of the Reduction Court Hearing and the Effective Date.

Unless otherwise defined herein, capitalised terms used in this announcement have the same meaning as in the Scheme Documents and Announcement.

Hawkpoint, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting exclusively for Countrywide and its Directors and no one else in connection with the Proposals and will not be responsible to anyone other than Countrywide and its Directors for providing the protections afforded to clients of Hawkpoint nor for providing advice in relation to the Proposals, the content of this announcement or any matter referred to herein.