GYG Gyg Plc

RNS Number:7672M
Gyrus Group PLC
29 January 2008


 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR
 FROM ANY JURISDICTION WHERE TO DO THE SAME WOULD CONSTITUTE A VIOLATION OF THE
                       RELEVANT LAWS OF SUCH JURISDICTION


29 January 2008


    Recommended cash acquisition of Gyrus Group plc ("Gyrus") by Olympus UK
 Acquisitions Limited ("Olympus UK Acquisitions"), a wholly owned subsidiary of
              Olympus Corporation ("Olympus") (the "Acquisition").


U.K. Court sanctions Scheme of Arrangement

The Boards of Olympus and Gyrus today announce that the High Court of Justice of
England and Wales has sanctioned the Scheme of Arrangement to implement the
recommended offer for Gyrus by Olympus UK Acquisitions Limited, a wholly owned
subsidiary of Olympus Corporation.

It is expected that the Effective Date of the Scheme will be 1 February 2008. A
further announcement will be made to confirm that the Scheme has become
effective on this date.


Enquiries:

Perella Weinberg (financial adviser to Olympus)
+44 20 7268 2800
Philip Yates
Graham Davidson

Gyrus
+44 1189 219 750
Brian Steer, Chairman
Roy Davis, Chief Executive Officer
Simon Shaw, Chief Financial Officer

Bear Stearns (financial adviser to Gyrus)
+44 20 7516 6000
Paul Abecassis
Stuart Rankine

Morgan Stanley (financial adviser and corporate broker to Gyrus)
+44 20 7425 5000
Peter Moorhouse
Laura Howard
Henry Stewart
Edward Knight

Financial Dynamics (PR adviser to Gyrus)
+44 20 7831 3113
David Yates


Words and expressions defined in the Scheme Document dated 17 December 2007 have
the same meanings in this announcement.



Perella Weinberg Partners UK LLP, which is authorised and regulated in the
United Kingdom by the Financial Services Authority, is acting exclusively for
Olympus and Olympus UK Acquisitions and no-one else in connection with the
Acquisition and will not be responsible to anyone other than Olympus and Olympus
UK Acquisitions for providing the protections afforded to the clients of Perella
Weinberg or for providing advice in relation to the Acquisition.



Bear, Stearns International Limited, which is authorised and regulated in the
United Kingdom by the Financial Services Authority, is acting solely for Gyrus
in connection with the Acquisition and no-one else and will not be responsible
to anyone other than Gyrus for providing the protections afforded to clients of
Bear Stearns or for providing advice in relation to the Acquisition or any of
the matters referred to in this announcement.



Morgan Stanley & Co. Limited is acting solely for Gyrus in connection with the
Acquisition and no-one else and will not be responsible to anyone other than
Gyrus for providing the protections afforded to clients of Morgan Stanley or for
providing advice in relation to the Acquisition or any of the matters referred
to in this announcement.




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