A.L. Pro Choice bids for CPI Holdings

A.L. Pro Choice  Group Pcl (PROP) announced that it decided to submit a Public Offer towards CPI Holdings Pcl (CPIH) shareholders for the acquisition of up to 100% of CPIH’s issued share capital for 3 PROP shares in exchange of 1 CPIH share. CPIH’s closing price as of December 14, 2006 was EUR0.67/share and PROP’s closing price was

EUR0.27/share.

A. L. Pro Choice Group Public Ltd currently holds directly and indirectly 7,232,275 CPIH shares or 29.67% of CPIH’s issued share capital. In order to be successful, the Offer must meet the following criteria:

The issue of new shares required for the acquisition must be approved by the EGM held by PROP. A minimum 70% of CPIH shares must be accepted and all the necessary approvals by the regulatory authorities must be obtained.