Oct 2 (Reuters) - Hudson's Bay Co HBC.TO :
* PARADISE DEVELOPMENTS DELIVERS LETTER TO THE SPECIAL COMMITTEE OF HBC
* PARADISE DEVELOPMENTS DELIVERS LETTER TO THE SPECIAL COMMITTEE OF HBC
* PARADISE DEVELOPMENTS - URGE HBC SPECIAL COMMITTEE TO EITHER NEGOTIATE A FAIR PRICE OR TO RECOMMEND THAT INSIDER OFFER BE REJECTED
* PARADISE DEVELOPMENTS - ONCE HBC IS "PROPERLY VALUED, IT IS CLEAR INSIDER OFFER DOES NOT EVEN COME CLOSE TO PROVIDING FAIR VALUE TO MINORITY SHAREHOLDERS"
* PARADISE DEVELOPMENTS - HBC IS "WORTH A SIGNIFICANT PREMIUM TO PRICE OF INSIDER OFFER"
* PARADISE DEVELOPMENTS - URGE HBC COMMITTEE TO HAVE ADVSIORS PREPARE OR OBTAIN AN APPRAISAL OF COMPANY'S OWNED REAL ESTATE