Completion of Disposal

Avon Rubber PLC 14 August 2006 14 August 2006 AVON RUBBER PLC ('Avon Rubber' or the 'Group') Completion of Disposal On 22 May 2006 Avon Rubber announced that it had entered into a conditional agreement to sell Avon Automotive to Petrol Automotive Holdings Inc., a company established and controlled by Red Diamond Capital Partners, L.P. and a management team led by Leland Richards. On 1 August 2006 Avon Rubber announced an extended period of completion due to the delayed finalisation of certain legal requirements in the Czech Republic. The finalisation of these requirements and the delayed closing have increased the costs associated with the transaction by approximately £1.0 million. All conditions having been satisfied, completion of the disposal of Avon Automotive has now taken place. - Ends - For further enquiries, please contact: Avon Rubber p.l.c 01225 896831 Terry Stead, Chief Executive Peter Slabbert, Group Finance Director (Local/Trade Press) 01225 896300 Fiona Stewart Weber Shandwick | Square Mile 020 7067 0700 Richard Hews / Rachel Taylor / Stephanie Badjonat NOTES TO EDITORS: Avon Rubber p.l.c. is an international polymer engineering group adding value through material, manufacturing and industry sector expertise. The Group is currently capitalised at approximately £54 million. This information is provided by RNS The company news service from the London Stock Exchange
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