Re Preference Share Capital

Avon Rubber PLC
2 March 2001


                              AVON RUBBER p.l.c


                    Repayment of Preference Share Capital


On 17 January 2001, Avon Rubber p.l.c. (the 'Company') announced its intention
to cancel and repay the Company's outstanding preference share capital.  The
Board of Avon Rubber p.l.c, has today posted a circular to shareholders
seeking their approval to repay the outstanding 500,000 7% cumulative
preference shares. Under the proposals, preference shareholders will receive
the sum of 116.67 pence per preference share together with accrued dividend up
to the date of repayment.

The proposals are subject to approval by ordinary shareholders, preference
shareholders and the High Court. An extraordinary general meeting, an ordinary
shareholders separate class meeting and a preference shareholders separate
class meeting have been convened for 26 March 2001.

It is expected that dealings in preference shares will be suspended on the
London Stock Exchange on 26 April 2001 and that the repayment will be made on
27 April 2001.