BETFAIR GROUP LTD 
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Betfair Group plc
13May 2013
Statement by Betfair Group plc ("Betfair" or the "Company") regarding possible offer from CVC Capital Partners, Richard Koch, Antony Balland partners (together, the "Co-offerors")
On 22 April 2013, the Board of Betfair announced that it had received and rejected a preliminary proposal from the Co-offerors regarding a possible offer for the Company.
In accordance with Rule 2.6(a) of the Code, the Co-offerorsare required, by not later than 5.00pm on 13 May 2013, to either announce a firm intention to make an offer for Betfair in accordance with Rule 2.7 of the Takeover Code or announce that they do not intend to make an offer.
At the request of the Company, the Panel has consented to an extension of this deadline until 5.00pm on 14 May 2013. By this time either the Co-offerorswill announce that they do not intend to make an offer for Betfair or the Company will seek a further extension of the deadline referred to above. This deadline will only be extended with the consent of the Panel in accordance with Rule 2.6(c) of the Takeover Code. At the end of this period, there is no certainty that an offer for Betfair will be made, nor as to the terms of any such offer (if made).
Dealing Disclosure Requirements
Under the provisions of Rule 8.3 of the Code, if any person is, or becomes, "interested" (directly or indirectly) in 1% or more of any class of "relevant securities" of the Company, all "dealings" in any "relevant securities" of that company (including by means of an option in respect of, or a derivative referenced to, any such "relevant securities") must be publicly disclosed by no later than 3.30 pm (London time) on the London business day following the date of the relevant transaction. This requirement will continue until the date on which the offer becomes, or is declared, unconditional as to acceptances, lapses or is otherwise withdrawn or on which the "offer period" otherwise ends. If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire an "interest" in "relevant securities" of the Company, they will be deemed to be a single person for the purpose of Rule 8.3.
Under the provisions of Rule 8.1 of the Code, all "dealings" in "relevant securities" of the Company by the offeror, or by any of their respective "associates", must be disclosed by no later than 12.00 noon (London time) on the London business day following the date of the relevant transaction.
A disclosure table, giving details of the companies in whose "relevant securities" "dealings" should be disclosed, and the number of such securities in issue, can be found on the Takeover Panel's website at www.thetakeoverpanel.org.uk.
"Interests in securities" arise, in summary, when a person has long economic exposure, whether conditional or absolute, to changes in the price of securities. In particular, a person will be treated as having an "interest" by virtue of the ownership or control of securities, or by virtue of any option in respect of, or derivative referenced to, securities.
Terms in quotation marks are defined in the Code, which can also be found on the Panel's website. If you are in any doubt as to whether or not you are required to disclose a "dealing" under Rule 8, you should consult the Panel.
Profit Estimate
The Trading and Strategy Update announcement released by Betfair on 7 May 2013 contained statements that the estimated Group revenue for FY13 was approximately £387 million and that estimated Group underlying EBITDA for FY13 was approximately £73 million (the "Betfair Profit Estimate"), which constitute a profit forecast for the purposes of Rule 28 of the Code. As such it is a requirement under the Code that the Betfair Profit Estimate is reported on by Betfair's reporting accountants and financial advisers. The bases and assumptions behind the Betfair Profit Estimate and the reports of KPMG Audit plc and Goldman Sachs International and Morgan Stanley & Co. International plc were set out in the appendix to the 7 May 2013 Trading and Strategy Update announcement ,which is available at: http://corporate.betfair.com/investorrelations/results-and-presentations/results-centre.aspx. The Betfair Profit Estimate remains valid for the purpose of the offer and KPMG Audit plc and Goldman Sachs International and Morgan Stanley & Co. International plc have consented to their reports continuing to apply.
Publication on website
A copy of this announcement will be made available on Betfair's corporate website,http://corporate.betfair.com. Thecontent of the website referred to in this announcement is notincorporated into and does not form part of this announcement.
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