Dixons accepts share exchange for Wanadoo exchangeables

New York, April 15 - Dixons Group plc said that it has accepted the ancillary share exchange offer for the 9.705 million Wanadoo SA shares underlying its remaining €67.352 million 1% exchangeable bonds due July 5, 2004.

Dixons also said exchange rights for the bonds are suspended from April 14 onwards.

France Telecom SA is making a public offer for Wanadoo's shares.

Dixon's said that Woodstock Finance Ltd., which issued the exchangeables, will notify bondholders once the results of France Telecom's offer are known, expected to be around April 27.

Dixons previously announced that holders had reduced the outstanding amount of the bonds from the original €260 million by exercising the exchange right.

Under the terms of the bonds, Dixons may accept any option available to the public but is not required to do so.

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