OAS Oasis Stores

RNS Number:0895F
Oasis Stores PLC
12 June 2001

Tuesday 12th June



Oasis Stores PLC



AGM Statement



At today's Annual General Meeting of Oasis Stores PLC, the Chairman, Michael
Bennett, made the following statement:



I am pleased to report that trading for the first 19 weeks of the year has
been encouraging with like-for-like sales in Oasis up 6% and in Coast up 26%.



As indicated in our preliminary results statement in April, I will now become
non-executive Chairman of the Group and Maurice Bennett, together with
Managing Director Vivian Scott, will become non-executive directors.



On 9th April 2001, the Independent Committee of the board of the Company
announced that it was in the early stages of discussions with a number of
potential offerors for the Company, including the management team led by Derek
Lovelock.



The Independent Committee announces that it has reviewed the indicative
proposals put to it by each of these parties and concluded that the proposal
put forward by the management team, backed by the funds advised by PPM
Ventures Limited ("PPM Ventures"), is the most attractive in terms of
shareholder value and deliverability.



Consequently, the Company has recently entered into a period of exclusive
detailed due diligence with PPM Ventures.  This due diligence is still at an
early stage and may or may not lead to an offer for the Company at around the
current market price.  A further announcement will be made in due course as
appropriate.





                                   - ENDS -



Enquiries:


Oasis Stores PLC                              020 7452 1000
Michael Bennett
Derek Lovelock

Financial Dynamics                            020 7831 3113
Charlie Armitstead

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