Appointment

API Group PLC 18 December 2000 18 December 2000 APPOINTMENT OF NEW CHIEF EXECUTIVE API Group plc announced today the appointment of Derek Ashley (40) as its new Chief Executive. Derek joins from the NASDAQ listed, US group Applied Graphics Technologies, Inc where he was Chief Executive Officer. Derek will be appointed to the API Board immediately following the forthcoming AGM on 8th February 2001 and will be commencing employment with the Company in January 2001. Mr Ashley joined AGT in June 1999 following its acquisition of Wace Group plc, where he had been Group Chief Executive since May 1998. AGT's annual turnover is in excess of $600m and the Group operates from over 50 locations, of which 6 are outside the US. At Wace, Mr Ashley was responsible for the Group's US business from July 1997, successfully returning the division to profitability through refocusing the management team, selling poorly performing businesses and consolidating operations. He defended the Group successfully from an unwelcome bid from Photobition Group plc and in selling Wace to AGT achieved a premium of 80% above the initial hostile offer. Commenting on API's new Chief Executive, the Group's Chairman Moger Woolley said: 'Derek has the blend of experience that we are looking for at API. He knows our sector, he has worked at an international level and he has successfully turned around businesses. He has also worked under difficult circumstances and, in the process, delivered shareholder returns that might not have previously been expected. Importantly, he will bring focus to the Group and bring new impetus to our management team.' There are no disclosures in respect of Derek Ashley which require to be made under paragraph 6.1.2 (b) to (g) of the Listing Rules of the UK Listing Authority. ENDS Enquiries: Moger Woolley, Chairman Dennis Holt, Finance Director, API Group plc 01625 610334 Tim Spratt, Director, Financial Dynamics 0207 831 3113
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