The Board of Scottish Power confirms that it has received an approach, which may or may not lead to an offer being made for Scottish Power.

There can be no certainty that an offer will be made and any offer that is made will be considered by the Board at the appropriate time.

A further announcement will be made in due course.

For further information:

Media enquiries:

Colin McSeveny  Media Relations Director  +44 (0) 141 636 4515
Anthony Cardew Cardew Group +44 (0) 20 7930 0777

Investor enquiries:

Peter Durman Investor Relations Director  +44 (0) 141 636 4527

Dealing Disclosure Requirements

Under the provisions of Rule 8.3 of the Takeover Code (the "Code"), if any person is, or becomes, "interested" (directly or indirectly) in 1% or more of any class of "relevant securities" of Scottish Power plc, 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until the date on which the offer becomes, or is declared, unconditional as to acceptances, lapses or is otherwise withdrawn or on which the "offer period" otherwise ends.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 Scottish Power plc, 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 Scottish Power plc, 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 http://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.