Interim Results

ROXBORO GROUP PLC
20 September 1999


Contacts: Harry Tee - Group Chief Executive
          Alf Vaisey - Group Finance Director
          The Roxboro Group PLC
          Telephone: [phone] (20/09/99)
          Telephone: [phone] (thereafter)

          Alistair Mackinnon-Musson
          Philip Dennis
          Square Mile Communications
          Telephone:  [phone]


                        THE ROXBORO GROUP PLC
                           Interim Results

The Roxboro Group PLC, the Cambridge based controls technology group,
announces its interim results for the 6 months ended 30 June 1999.

Roxboro  comprises  a  number of specialist  manufacturing  companies
focused  on  growing  niche sectors within  the  controls  technology
market.   The Group consists of three divisions: Components,  Sensors
and Instrumentation.  Roxboro has manufacturing facilities in the  UK
and  the  US, with sales offices throughout Europe, the USA and  Asia
Pacific.

The key points are:

*    Turnover up to £60.4m (1998: £59.3m)
*    Orders received up to £66.2m (1998: £59.9m)
*    Profit before tax of £7.6m, after £0.7m of non-recurring costs
*    Underlying profit* £8.3m
*    Order book strengthens by 40%, providing a strong base for  the
     second half
*    Component market recovered strongly in Q2 and was sustained into
     Q3.
*    Acquisition  of  Norwich Aero and ISA  Controls  completed  and
     integrated well
*    Dividend increased by 8%

*profit before goodwill and non-recurring costs

Commenting on the results, Harry Tee, Chief Executive said:

'Given a 40% improvement in the strength of our order book since  the
beginning  of the year and with signs of economic recovery  in  Asia,
the prospects for Roxboro are encouraging for the second half and for
the longer term.'

The acquisition of Norwich Aero Products and ISA Controls strengthens
Roxboro  in key strategic markets and we will continue to pursue  our
strategy  of  seeking appropriate acquisitions to further  strengthen
the Group.'


CHAIRMAN'S STATEMENT

OVERVIEW OF THE ROXBORO GROUP RESULTS

In  the first six months the Group performed well in difficult market
conditions,  particularly  in  the  petro-chemical  sector.   A   40%
strengthening  of  the  order book since the beginning  of  the  year
provides  the  Board with a high level of confidence for  the  second
half.

For  the  period  to  30 June 1999 profits before  tax  and  goodwill
amortisation were £7.6m (1998 : £9.0m) on turnover of £60.4m (1998  :
£59.3m).  In total the Group incurred one-off costs of £0.7m  in  the
period (1998: NIL); underlying profits before goodwill were therefore
£8.3m.

Basic  earnings  per share were 8.9p (1998 : 10.8p) and  the  interim
dividend  is  increased  by 8% to 2.8p (1998: 2.6p),  reflecting  the
Board's  confidence in the Group's prospects.  The dividend  will  be
paid  on  27  October 1999 to shareholders registered on  01  October
1999.

Roxboro  has  continued  to invest in the  future  not  only  through
acquisitions  and  capital  expenditure,  but  also  in  taking   the
opportunity to acquire the freehold of our Farnborough site which, in
aggregate, amounted to £25.9m.  This resulted in net debt  of  £12.5m
at  the  half year.  However, it is anticipated that the onward  sale
and  partial  lease back of the Farnborough site will be achieved  in
the  second  half, restoring a strong, positive cash balance  at  the
year end.

The  first  half of 1999 has been a period during which  Roxboro  has
successfully  further  developed its  strategy  within  the  Controls
Technology sector.  The acquisition of Norwich Aero Products Inc.,  a
US  based  manufacturer  of  temperature sensors  for  the  aerospace
industry,   in  January was followed by the purchase of ISA  Controls
Limited,   a   leading  UK  manufacturer  of  flow  and   temperature
measurement  products  used in the petro-chemical  sector,  in  June.
Each  of these initiatives strengthens our strategic position in  key
markets.

The Board were very disappointed that the negotiations on a major  US
acquisition opportunity did not proceed to a satisfactory conclusion.
The costs incurred were written off in the first half.


OPERATIONAL REVIEW

Components Sector

The  Components sector picked up strongly after a slow start  to  the
year,  with  the  Division  overall  showing  a  29%  improvement  in
operating  profits on the second half of 1998 to £4.3m.  This  result
was  achieved  despite incurring £265k of legal costs in successfully
defending a patent infringement claim against Dialight's solid  state
traffic  light  products.  Underlying profit (excluding  these  legal
costs) was up 5% on the first half of 1998.

Dialight's component business, which dominates its market in the USA,
strengthened  significantly in the second quarter and  has  continued
strongly into the third quarter.  Major successes with Nortel,  Cisco
and 3-Com in the data communications field, and with Microsoft, for a
key  optical  component to be used in a new mouse, will underpin  the
growth of Dialight's component business.

It  is  pleasing  to note the Dialight Transportation  Product  Group
(which  produces  innovative solid state traffic  lights  using  high
illuminescence LED technology) made a healthy contribution to  profit
for  the  first  half  and  is continuing to  progress  well.   Major
contracts are increasingly being awarded at State level and this  has
helped  Dialight win new business in California, New Jersey,  Kansas,
Washington   State   and  North  Carolina.   This  has   consolidated
Dialight's position as the clear market leader in the rapidly growing
solid  state  traffic light market, sales of which increased  by  40%
over the same period last year.

BLP  has  achieved excellent success with its 200A Powerpulse product
in  North America.  Companies such as Motorola, Schlumberger, ABB and
Siemens  have  designed  Powerpulse into  their  next  generation  of
electricity  meters to provide a connect/disconnect  function.   This
facility  is  necessary in prepayment meters or AMR (Automatic  Meter
Reading)  meters.  In the automotive sector Powermotive is now  being
supplied  into the new Rover 75 as well as other vehicles,  including
the Jaguar 'S' Class.

Sensors

The  Sensors  Division continued to develop well, with  the  division
showing an increase  in operating profit of 14% over the same  period
of last year, to £4.9m.

The  acquisition  of  Norwich Aero Products  in  January  strengthens
Roxboro's position in the aeroengine accessory market.  The award  by
Rolls-Royce of the entire suite of thermocouples and speed sensors on
the  new  Trent  500  engine  underpins  Weston's  market  leadership
position and its future growth prospects although the engine will not
go into full production until 2001.

Weston  continues  to gain market share in the key aftermarket,  with
KLM  awarding  the  company a $2.3m contract to retrofit  temperature
sensors  on its engines in a refit programme which is anticipated  to
begin later in the year.

Both Solartron Metrology and Pressure Systems Inc continue to do well
with  Metrology  enjoying strong market conditions in North  America,
Germany and France, although the UK remained weak.

Instrumentation

In  response to the expected and widely acknowledged slow down in the
petro-chemical sector which resulted in a subdued performance at  our
Instrumentation Division, we have restructured and reduced  costs  at
Solartron,  including  the appointment of a  new  Managing  Director.
These  factors  taken together resulted in the Division  returning  a
loss for the period of £364k, after absorbing restructuring costs  of
£270k.    The  Division is now beginning to see the benefits  of  the
cost  reduction programmes and this, together with signs of a pick-up
in  business  in Asia, has contributed to an improved performance  in
recent months.

With  oil  prices now much stronger we expect to see the benefits  of
many capital projects being restored to customers' Year 2000 budgets.

The Group's position in this market was strengthened in June with the
acquisition  of  ISA  Controls Limited.  The integration  of  ISA  is
progressing  well and will substantially strengthen its international
sales, particularly as the market for in-line  multiphase measurement
in the oil and gas markets is developed.

Prospects

Orders  received  in the first six months were £66.2m  compared  with
£59.9m in the same period last year and £51.9m in the second half  of
1998.  This forward trend has continued with the Group order book now
much stronger than at the beginning of the year, giving a strong base
for the remainder of the year.

Given  the  improved order book and signs of an economic  revival  in
Asia,  the  immediate  and  longer term  prospects  for  Roxboro  are
encouraging.

Sir Alan Cockshaw                                           H.L. Tee
Chairman                                             Chief Executive


Group Profit and Loss Account
Unaudited interim results for the half year ended 30 June 1999

                                     1999      1998      1998
                                 6 months  6 months 12 months
                                    ended     ended     ended
                                  30 June   30 June 31 December
                            Notes   £'000     £'000     £'000
---------------------------------------------------------------------
Turnover
Continuing operations              58,053    59,314   114,233
Acquisitions                        2,342         -         -
---------------------------------------------------------------------
                             2(a)  60,395    59,314   114,233
---------------------------------------------------------------------

Operating profit before
 goodwill amortisation
Continuing operations               7,278     8,866    17,182
Acquisitions                          196         -         -
---------------------------------------------------------------------
                                    7,474     8,866    17,182

Goodwill amortisation               (102)         -         -
---------------------------------------------------------------------
Total operating profit       2(b)   7,372     8,866    17,182

Net interest receivable                85        90       273
---------------------------------------------------------------------
Profit on ordinary activities
 before taxation              4     7,457     8,956    17,455
Tax on profit on ordinary
 activities                   5   (2,461)   (2,821)   (5,204)
---------------------------------------------------------------------
Profit on ordinary activities
 after taxation                     4,996     6,135    12,251
Minority interest                       -      (52)     (135)
---------------------------------------------------------------------
Profit for the financial period
 attributable to shareholders       4,996     6,083    12,116
Dividends                         (1,577)   (1,461)   (4,495)
---------------------------------------------------------------------
Retained profit                     3,419     4,622     7,621

                                    Pence     Pence     Pence
Dividends per share           8       2.8       2.6       5.4

                                   ----------------------------------
Earnings per share
Basic                         9       8.9      10.8      21.6
                                   ----------------------------------
Diluted                       9       8.7      10.6      21.1
                                   ----------------------------------

Group Balance Sheet
Unaudited interim results at 30 June 1999

                                     1999      1998      1998
                            Notes 30 June   30 June 31 December
                                    £'000     £'000     £'000
---------------------------------------------------------------------
Fixed assets
Intangible assets             6     6,744         -         -
Tangible assets                    32,109    15,958    15,030
Investments                            39        62        39
---------------------------------------------------------------------
                                   38,892    16,020    15,069
---------------------------------------------------------------------
Current assets
Stock                              13,152    11,133    10,692
Debtors                            24,592    18,919    19,898
Cash at bank and in hand            1,083    15,328    15,125
---------------------------------------------------------------------
                                   38,827    45,380    45,715
---------------------------------------------------------------------
Creditors
Amounts falling due within
 one year
Borrowings                       (12,569)   (6,614)   (3,222)
Other creditors                  (22,004)  (19,201)  (19,545)
---------------------------------------------------------------------
                                 (34,573)  (25,815)  (22,767)
Net current assets                  4,254    19,565    22,948
---------------------------------------------------------------------
Total assets less current
 liabilities                       43,146    35,585    38,017
Creditors
Amounts falling due after
 more than one year
Borrowings                          (974)     (472)       (7)
Provisions for liabilities
 and charges                        (705)     (834)     (731)
---------------------------------------------------------------------
                                   41,467    34,279    37,279
Minority interests                      -     (134)     (217)
---------------------------------------------------------------------
                                   41,467    34,145    37,062
                                   ----------------------------------
Capital and reserves
Called up share capital               563       562       562
Share premium account               4,871     4,590     4,590
Capital redemption reserve             51        51        51
Profit and loss account            35,982    28,942    31,859
---------------------------------------------------------------------
                                   41,467    34,145    37,062
                                   ----------------------------------

Group statement of total recognised gains and losses
Unaudited interim results for the half year ended 30 June 1999

                                     1999      1998      1998
                                 6 months  6 months 12 months
                                    ended     ended     ended
                                  30 June   30 June 31 December
                                    £'000     £'000     £'000
---------------------------------------------------------------------
Profit for the period
 attributable to equity
 shareholders                       4,996     6,083    12,116
Currency translation
 differences on foreign
 currency net investments             636        40      (42)
---------------------------------------------------------------------
Total gains recognised
 in the period                      5,632     6,123    12,074
                                   ----------------------------------

Reconciliation of movements in shareholders' funds
Unaudited interim results for the half year ended 30 June 1999

                                     1999      1998      1998
                                 6 months  6 months 12 months
                                    ended     ended     ended
                                  30 June   30 June 31 December
                                    £'000     £'000     £'000
---------------------------------------------------------------------
Total recognised gains and losses   5,632     6,123    12,074
Dividends                          (1,577)   (1,461)   (4,495)
Shares issued                         282        39        39
Goodwill written back                  68         -         -
---------------------------------------------------------------------
Net change to shareholders funds    4,405     4,701     7,618
Balance brought forward            37,062    29,444    29,444
---------------------------------------------------------------------
Balance carried forward            41,467    34,145    37,062
                                   ----------------------------------

Group Statement of Cash Flows
Unaudited interim results for the half year ended 30 June 1999

                                     1999      1998      1998
                                 6 months  6 months 12 months
                                    ended     ended     ended
                                  30 June   30 June 31 December
                            Notes   £'000     £'000     £'000
---------------------------------------------------------------------
Cash flow from operating
 activities                   3     6,653     9,327    16,680
---------------------------------------------------------------------
Returns on investments and
 servicing of finance
Interest paid                        (208)     (280)     (461)
Interest received                     308       370       734
---------------------------------------------------------------------
Net cash inflow from returns on
 investment and servicing
 of finance                           100        90       273

Taxation                           (1,698)   (2,525)   (4,370)

Capital expenditure and
 financial investment
Purchase of tangible
 fixed assets                     (16,819)   (2,037)   (3,948)
Sale of tangible fixed assets          57        95     1,371
---------------------------------------------------------------------
Net cash outflow from
 investing activities             (16,762)   (1,942)   (2,577)

Acquisitions and disposals         (9,094)        -         -

Equity dividends paid              (3,034)   (2,752)   (4,213)
---------------------------------------------------------------------
Cash (outflow)/inflow before
 use of liquid resources and
 financing                        (23,835)    2,198     5,793
                                   ----------------------------------
Financing
Issue of ordinary share capital       282        39        39
Loan advances(repayments)          14,001      (954)   (4,734)
Capital element of finance lease
 rental payments                       (8)      (16)      (34)
---------------------------------------------------------------------
                                   14,275      (931)   (4,729)
---------------------------------------------------------------------
(Decrease)/increase in
 cash in the period                (9,560)    1,267     1,064
                                   ----------------------------------

Reconciliation of net cash flow to movements in net debt

                                     1999      1998      1998
                                 6 months  6 months 12 months
                                    ended     ended     ended
                                  30 June   30 June 31 December
                                    £'000     £'000     £'000

(Decrease)/increase in cash
 in the period                     (9,560)    1,267     1,064
Cash flow from (increase)/decrease
 in debt and lease financing      (13,993)      970     4,768
---------------------------------------------------------------------
Change in net debt resulting
 from cash flows                  (23,553)    2,237     5,832
Translation difference                (39)     (47)        12
---------------------------------------------------------------------
Movement in net cash in
 the period                       (23,592)    2,190     5,844
Net cash at beginning of period    11,896     6,052     6,052
Funding of subsidiaries acquired     (764)        -         -
---------------------------------------------------------------------
Net (debt)/cash at end of period  (12,460)    8,242    11,896
                                   ----------------------------------
Notes to the Financial Report

1)  Basis of preparation of interim financial information

The interim financial information has been prepared on the basis of
the accounting policies set out in the group's statutory accounts for
the year ended 31 December 1998.

2)  Segmental information

Turnover, operating profit and net assets are analysed below:

                                     1999      1998      1998
                                 6 months  6 months 12 months
                                    ended     ended     ended
                                  30 June   30 June 31 December
                                    £'000     £'000     £'000
---------------------------------------------------------------------
a)  Turnover

By geographical destination:
UK                                 14,292    13,998    28,192
USA                                32,729    30,582    58,050
Other European countries            7,956     8,521    15,876
Rest of the world                   5,418     6,213    12,115
---------------------------------------------------------------------
Continuing operations              60,395    59,314   114,233
                                   ----------------------------------

By geographical origin:
UK                                 31,869    33,259    65,988
USA                                30,882    29,142    54,996
Other European countries              896       892     1,791
---------------------------------------------------------------------
Continuing operations              63,647    63,293   122,775
Inter-segment sales                (3,252)   (3,979)   (8,542)
                                   ----------------------------------
                                   60,395    59,314   114,233
                                   ----------------------------------

By business operation:
Components                         25,810    25,277    45,538
Sensors                            23,959    20,896    43,125
Instrumentation                    10,626    13,141    25,570
---------------------------------------------------------------------
Continuing operations              60,395    59,314   114,233
                                   ----------------------------------

b)  Operating profit/(loss)

By geographical origin:
UK                                  4,703     5,883    11,861
USA                                 4,087     4,260     7,675
Other European countries              (42)      (45)     (155)
---------------------------------------------------------------------
Operating profit before
 central costs and goodwill
 amortisation                       8,748    10,098    19,381
Central costs                      (1,274)   (1,232)   (2,199)
Goodwill amortisation                (102)        -         -
                                   ----------------------------------
Operating profit on
 ordinary activities                7,372     8,866   17,182
                                   ----------------------------------

By business operation:
Components                          4,232     4,263     7,548
Sensors                             4,880     4,294     9,282
Instrumentation                      (364)    1,541     2,551
---------------------------------------------------------------------
Operating profit before central costs
 and goodwill amortisation          8,748    10,098    19,381
Central costs                      (1,274)   (1,232)   (2,199)
Goodwill amortisation                (102)        -         -
                                   ----------------------------------
Operating profit on ordinary
 activities                         7,372     8,866    17,182
                                   ----------------------------------

c) Net assets

By geographical origin:
UK                                 24,378    14,143    17,100
USA                                13,606    11,723    11,595
Other European countries              198       343       188
---------------------------------------------------------------------
                                   38,182    26,209    28,883
Unallocated central net assets      3,285     7,936     8,179
                                   ----------------------------------
                                   41,467    34,145    37,062
                                   ----------------------------------

By business operation:
Components                         12,765    12,451    11,507
Sensors                            19,599     9,018    12,364
Instrumentation                     5,818     4,740     5,012
---------------------------------------------------------------------
                                   38,182    26,209    28,883
Unallocated central net assets      3,285     7,936     8,179
                                   ----------------------------------
                                   41,467    34,145    37,062
                                   ----------------------------------

3) Reconciliation of operating profit to net cash inflow from
operating activities

                                     1999      1998      1998
                                 6 months  6 months 12 months
                                    ended     ended     ended
                                  30 June   30 June 31 December
                                    £'000     £'000     £'000
---------------------------------------------------------------------
Operating profit                    7,372     8,866    17,182
Depreciation                        2,080     1,867     3,564
Goodwill amortisation                 102         -         -
Profit on sale of tangible
 fixed assets                          (2)      (43)     (232)
(Increase)/decrease in stocks      (1,485)     (350)       91
Increase in debtors                (2,560)   (2,251)   (3,230)
Increase/(decrease) in creditors    1,235     1,238      (718)
Other non cash items                  (89)        -        23
                                   ----------------------------------
Net cash inflow from
 operating activities               6,653     9,327    16,680
                                   ----------------------------------

4)  Operating profit

Operating profit is stated after charging the following non-recurring
costs:

                                    £'000
                                  -------
Aborted acquisition costs             189
Re-organisation costs                 270
Costs in respect of litigation case   265
                                  -------
                                      724
                                  -------

5)  Taxation

The  tax  charge  of £2,461,000 for the half year  to  30  June  1999
reflects  the anticipated effective tax rate for the year  ending  31
December 1999.

6)  Acquisitions

Roxboro  acquired  the entire issued share capital  of  Norwich  Aero
Products  Inc.  on 8 January 1999 for consideration  of  $8.3m.   The
fair  value of net assets acquired amounted to $2.3m giving  rise  to
goodwill of approximately $6m.

On  6  June 1999 the Group acquired 100% of the share capital of  ISA
Investments  Limited .  The initial consideration was £4.0m  and  the
fair  value of net assets acquired was £0.7m giving rise to  goodwill
of  approximately £3.3m.  Further consideration of £3.5m  is  payable
should specific profit performance criteria be achieved over the  two
year period to May 2001.

The goodwill shown above is based on preliminary estimates of the
fair value of net assets acquired.

7)  Disposal of subsidiary
  
On 15 January 1999 Pressure Systems Inc sold its shares in Keller PSI
Inc.  The calculation of the profit on disposal is as follows:

                                    £'000
                                  -------
Consideration (net of expenses)       560
Group's share of net assets sold     (492)
Write-back of goodwill                (68)
                                  -------
Profit on disposal                      -
                                  -------

8)   The  directors have declared an interim dividend  of   2.8p  net
(1998:  2.6p net) payable on 27 October 1999 to shareholders  on  the
register on 1 October 1999.

9)   Earnings per share attributable to equity shareholders are based
upon the weighted average number of shares in issue during the period
of 56,276,392 (1998: 30 June 1998 56,168,753 shares; 31 December 1998
56,175,075  shares).  The diluted earnings per share are  based  upon
the  weighted average number of shares in issue during the period  as
adjusted for options outstanding.

10)   The  financial information for each of the half years does  not
constitute  statutory  accounts as defined  in  section  240  of  the
Companies  Act 1985.  The comparative financial information  for  the
year  ended 31 December 1998 is abridged and has been extracted  from
the  Statutory Accounts, on which the auditors issued an  unqualified
opinion, and which have been delivered to the Registrar of Companies.

11)  Year 2000 Compliance

As   noted  in  the  1998  Annual  Report  and  Accounts,  the  Board
commissioned a Group-wide programme to address the impact of the Year
2000  on the businesses.  Given the complexity of the problem, it  is
not  possible  for any organisation to guarantee that  no  Year  2000
problems  will  remain, because at least some level  of  failure  may
still  occur.   However The Board has continued  to  receive  regular
reports   and   believe   that  the  Group's  businesses   have   now
substantially  achieved compliance of those  items  which  are  under
their direct control.  The estimate of millennium issue related costs
in 1999 is no more than £150,000.