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• Paragon Group Of Companies

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Date: Tuesday 22 Jul 2008

LONDON (ShareCast) - Paragon confirmed it has received takeover approaches from unnamed parties who have expressed interest in evaluating potential offers for the buy-to-let mortgage lender.

“In order to determine whether any of these approaches may form the basis for an acceptable offer or offers, the board has entered exploratory discussions with, and is providing certain due diligence access to, the parties concerned,” the group said in a short statement.

“There can be no certainty that these discussions will lead to any offer being forthcoming. Further announcements will be made in due course as appropriate,” it added.

The Financial Times reported late yesterday that Paragon is in talks with private equity firm Blackstone about a potential takeover.

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