RNS Number:4710N
Neil List & Mike Backs
11 July 2003

This announcement is not for release, publication or distribution in or into the
                   United States, Canada, Australia or Japan



For immediate release                                               11 July 2003



   In relation to the tender offer by Manchester and Metropolitan Investment
 Limited to purchase up to 16,558,442 ordinary shares of 5p each in Chesterton
                     International plc (the "Tender Offer")

Neil List and Mike Backs, formerly the Chief Executive Officer and Chief
Operating Officer of Chesterton International plc ("Chesterton"), have noted the
Tender Offer referred to above and announced on 8 July.

In view of the Tender Offer, which has a higher value than the offer by Phoenix
Acquisitions Limited ("PAL") for the entire issued and to be issued share
capital of Chesterton (the "Offer"), Messrs. List and Backs no longer consider
their recommendation to accept the Offer to be appropriate.  Chesterton
shareholders should accordingly exercise their own discretion as to whether they
wish to accept the higher Tender Offer, as Neil List intends to do in respect of
his own shareholding of 100,000 Chesterton shares representing 0.12% of the
entire issued share capital of Chesterton.  Mike Backs had already accepted the
Offer by Phoenix Acquisitions Limited, in respect of his shareholding of 100,000
Chesterton shares, before the Tender Offer was announced.

If shareholders are in any doubt as to what action they should take they should
seek their own independent financial advice immediately from their stockbroker,
bank manager, solicitor, accountant or other independent financial adviser duly
authorised under the Financial Services and Markets Act 2000.




ENQUIRIES:

Neil List                                                     Tel: 020 8209 0987

Numerica Capital Markets Limited                              Tel: 020 7467 4000
Shirin Gandhi
James Hannon


College Hill                                                  Tel: 020 7457 2020
Gareth David
Matthew Gregorowski



This announcement has been approved solely for the purpose of section 21 of the
Financial Services and Markets Act 2000 by Numerica Capital Markets Limited of
66 Wigmore Street, London W1U 2HQ.   Numerica Capital Markets Limited is acting
exclusively for Neil List and Mike Backs, as directors of the Company, and no
one else in connection with the Offer and will not be responsible to anyone
other than Neil List and Mike Backs for providing the protections afforded to
customers of Numerica Capital Markets Limited or for providing advice in
relation to the Offer or any other matter referred to in this announcement.

This announcement does not constitute, or form part of, an offer or invitation
to purchase any securities.

Neil List and Mike Backs accept responsibility for the information contained in
this announcement.  To the best of the knowledge and belief of Neil List and
Mike Backs (who have taken all reasonable care to ensure that such is the case)
the information contained in this announcement is in accordance with the facts
and does not omit anything likely to affect the import of such information.


                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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