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US Group Expected to Make Wembley Bid

29 March 2004

LONDON – As reported by Reuters: "U.S. consortium BLB is poised to make a possible offer of over 800 pence a share bid for British gaming firm Wembley , trumping rival MGM Mirage's 750 pence agreed cash bid, the Sunday Times said.

"The newspaper said the boards of Kerzner International and private U.S. real estate investor Starwood Capital, which have teamed up with gaming and leisure developer Waterford Group to form the BLB Investors consortium, were meeting on Sunday to discuss a 288 million-pound (US$523 million) counterbid.

"…The paper, which did not reveal the source of its information, said Kerzner and Starwood had completed their due diligence on Wembley, and a formal offer could come this week…"

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