Statement re: Share Buy-back Agreement

17 Oct 2008 16:30

Chesnara plc17 October 2008Share Buy-back Agreement

Chesnara plc ("Chesnara" or "the Company") announces that it has entered into irrevocable and non-discretionary arrangements with Panmure Gordon to repurchase on its behalf and within certain pre-set parameters, ordinary shares in the Company during the period commencing 20 October 2008 and ending on 18 November 2008. This arrangement is in accordance with the Company's general authority to repurchase shares.

To date, Chesnara has invested circa ‚£1.3 million in purchasing 1,164,274 of its shares at an average share price of 112.0. The Board has taken the decision to conduct these purchases of the Company's own shares as a result of the low level of the Company's share price.

Enquiries

Graham Kettleborough

Chief Executive, Chesnara plc 07799 407 519