Bermuda-registered Eldorado Corp.

Glamis vice president and director Mr. J.R. Billingsley said Friday the company's offer to acquire Eldorado common shares, special warrants and convertible debentures had been increased and that the offer was extended to August 9, reports Bloomberg business news.

The offer is $1.50 (Cdn) and .47 of a Glamis share for each Eldorado common share and special warrant compared to the previous offer of $1.20 (Cdn) and .40.

Based on a preliminary assessment of the offer, Eldorado said Glamis, by increasing its offer, recognised its original offer was inadequate, said Eldorado president Mr. Richard Barclay.

Eldorado and an independent committee will review the revised Glamis offer and a formal recommendation is anticipated tomorrow.

Glamis has not publicly revealed the number of shares tendered into their offer prior to the amendment, said Mr. Barclay.

"We are confident the substantial premium being presented in our new offer will be extremely attractive to Eldorado shareholders,'' said Glamis president and CEO Mr. Dan Rovig.

"We hope that the management of Eldorado will acknowledge the increased value being offered and allow its shareholders to participate in this offer by putting aside their own interests and waiving the shareholders rights plan,'' he said.

If the shareholders rights plan is not waived, Glamis will again request the Ontario and British Columbia securities commissions to convene a hearing to consider the merits of the plan.