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Full text of Sir George Mathewson and Sir Peter Burt's letter

Dear Dennis Following your conversation with Peter Burt we (George Mathewson and Peter Burt), are writing to outline our thoughts in relation to the proposed takeover of HBOS PLC by Lloyds TSB Group PLC.

Dear Dennis

1. Following your conversation with Peter Burt we (George Mathewson and Peter Burt), are writing to outline our thoughts in relation to the proposed takeover of HBOS PLC by Lloyds TSB Group PLC.