Milan , 04 June 2007 - The boards of Autogrill S.p.A. (AGL IM) and Alpha Airports Group PLC (AAP LN) are pleased to announce that they have reached agreement on the terms of a recommended mandatory cash offer for the issued and to be issued share capital, not already owned by Autogrill, of Alpha Airports at a price of 110 pence per Alpha Airports Share.
The directors of Alpha Airports, who have been so advised by Close Brothers Corporate Finance, consider the terms of the Offer to be fair and reasonable. In providing their advice to the directors of Alpha Airports, Close Brothers Corporate Finanace has taken into account the commercial assessments of the directors of Alpha Airports. Accordingly, the directors of Alpha Airports unanimously recommend to Alpha Airports Shareholders to accept the Offer.