Disposal

Associated British Engineering PLC
03 March 2003

Sale of the site at St Helens

Associated British Engineering plc ('the Company') announces that it has an
agreement to sell the properties held for sale, being land and properties at St
Helens, for £335,000 cash, subject only to shareholders approval. The net book
value of these properties is £203,560.

The sale proceeds will be transferred to the Company following approval by the
Company's shareholders at an extraordinary general meeting of the Company. The
net sale proceeds will be added to the Company's cash deposits.

A circular incorporating a notice of Extraordinary General Meeting (at which
approval will be sought for the proposed sale) will be despatched to
shareholders in due course.


Enquiries to:

Kirsten Good - Finance Director          01223 873600


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