CTC’s bid for FWW completed successfully

The takeover bid submitted by Cyprus Trading Corporation Pcl (CTC) for Woolworth Cyprus Properties (FWW) has been completed successfully after it was announced that

CTC acquired 40.4 mln FWW shares corresponding to 35.25% of FWW’s ordinary share capital. This number includes acceptances for 989,172 shares that were received by persons in agreement with the Offeror. Also, 14,949,260 shares have been transferred to the Offeror via an offfloor transaction on September 19, 2007 by persons associated to the Offeror in accordance with their commitment to accept the Public Offer. The total rate of acceptance together with the 42.57% that the Offeror held at the expiry of the Public Offer on September 26, 2007 stands at 77.81% of the total share capital of

Woolworth. Given that CTC has secured more than 51%, the Public Offer is successful. The consideration of EUR1.45 will be paid to all shareholders who accepted the Public Offer in Cyprus pounds or euros. The consideration will be paid within the period of 21 days from the expiry of the period of acceptance of the Public

Offer, that is, until October 17, 2007 with the dispatch of the relevant cheques to the beneficiaries.