Woolworths Limited Alerts Shareholders To Unsolicited Share Offer

26.03.10

PRESS RELEASE

Woolworths Limited Alerts Shareholders to Unsolicited Share Offer

Woolworths Limited shareholders should be alert to the fact they may receive an unsolicited offer to purchase their shares at below market value.

Woolworths Limited Company Secretary, Peter Horton said Woolworths Limited shareholders should be aware that unsolicited offers to purchase Woolworths shares are made from time to time by companies including Hassle Free Share Sales Pty Ltd and Easy Share Sales Pty Ltd.

"Woolworths does not endorse any unsolicited offers from such companies nor does it have any connection with companies making such unsolicited offers," Mr Horton said.

"These offers are made in various forms, and most substantially undervalue the current market price of Woolworths shares.

"Shareholders should carefully check the current price of Woolworths shares on the Australian Securities Exchange website at www.asx.com.au or Woolworths Limited website at www.woolworthslimited.com.au before considering any unsolicited offer to purchase their shares," he said.

Mr Horton said Government proposals are currently being considered which are designed to prevent predatory share offers being made to shareholders.

"Woolworths is supportive of the proposed measures to be introduced and has made a written submission to the government broadly supporting these initiatives.

"In the meantime, we recommend that shareholders who receive an unsolicited offer to purchase their shares, seek independent advice from a qualified professional before making a decision," Mr Horton added.

For further information, shareholders can contact the Woolworths Share Registry on 1300 368 664.

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MEDIA CONTACT: Woolworths Press Office on (02) 8885 1033.


SOURCE: Woolworths Limited