Interim Results

Roxboro Group PLC
19 September 2000


Contacts:  Harry Tee - Group Chief Executive
           Alf Vaisey - Group Finance Director
           The Roxboro Group PLC
           Telephone: [phone] (19/09/00)
                      01223 424626 (thereafter)

           Alistair Mackinnon-Musson
           Philip Dennis
           Hudson Sandler
           Telephone:[phone]

                       THE ROXBORO GROUP PLC
                          INTERIM RESULTS

The  race  to build data and telecommunications networks worldwide
has  helped  lift pre-goodwill operating profits at  Roxboro,  the
Cambridge  based technology group, by 38% to £10.4m (1999:  £7.5m)
in the period to 30 June 2000. Virtually 50% of Group profits were
derived  from the communications and e-commerce sectors where  the
Group  is  rapidly  becoming a major supplier  of  opto-electronic
products.

*    Turnover up 35% to £81.7m (1999: £60.4m)
*    Operating Profit up 38% to £10.4m (1999: £7.5m)
*    Underlying Earnings per share up 12% to 11.3p (1999:10.1p)
*    Operating Cash flow doubled to £12.7m (1999: £6.3m)
*    Like for like order book up 30% since January 2000
*    Disposal of Farnborough site raised £19.6m cash in July
*    Integration of Solartron and Mobrey on plan and at less than
     planned cost
*    Past investment at Dialight now paying off, with profits up
     strongly
*    Dividend up 7% to 3p per share (1999:2.8p per share)

For some time the Board has been of the view that Roxboro has been
undervalued  and  it is for this reason that it was  agreed  that,
following  a  number of approaches from private equity  companies,
the  option  of the Group being taken private should be  explored.
Following   the  results  announced  today,  and  with   excellent
prospects  ahead of us, the Board now believes it is in  the  best
interests  of shareholders that these discussions are  terminated.
The  Board will continue to explore alternative means of enhancing
shareholders value.

Harry Tee, Group Chief Executive, said,

'We  are enjoying very strong growth in the communications and  e-
commerce sector where we are an increasingly important supplier of
opto-electronic  products.  Virtually  every  major  producer   of
products and equipment into the sector now relies on us for  their
visual communication products. Following the acquisition of Mobrey
and  its successful integration into our measurement business, the
Farnborough site has been sold with a gain that more than  offsets
the  costs associated with the reorganisation, which is on  target
to  achieve  the  savings  we planned and  well  within  our  cost
estimates.'


INTERIM STATEMENT

OVERVIEW

The  outstanding  performance  of Dialight,  our  US  based  opto-
electronic  business, which accounted for over 50% of the  Group's
operating  profit in the first half, has contributed  strongly  to
these  results. Solartron, our measurement company, also  produced
improved profits.

The   acquisition  in  January  of  Mobrey  has  enabled   us   to
successfully  merge Solartron and Mobrey and relocate  Solartron's
manufacturing activities from Farnborough to the Mobrey  sites  at
Slough and Crawley. This has increased operational flexibility and
created  a  stronger, more profitable company.  These  moves  then
enabled  us  to dispose of the Farnborough site to J Sainsbury  at
the  beginning of the second half, realising cash of £19.6 million
for  the  Group. The successful integration of the two  businesses
has  now largely been completed and the expected cost savings  are
being achieved at somewhat lower cost than had been planned.

As previously predicted, and as a result of industry wide factors,
sales  for  the  period at Weston, our aerospace subsidiary,  were
flat.  The  company  continues to increase investment  for  future
growth in both product development and manufacturing capacity  and
overall it produced a solid performance in the first half.

DIALIGHT DIVISION

                   2000    1999
                     £m      £m
                ------- -------
Sales              32.2    25.8    +25%
Operating Profit    6.7     4.2    +60%

Sales  at  Dialight increased by almost 25%, but with the benefits
of   operational   gearing  and  lean  manufacturing   techniques,
operating  profits grew by 60% to £6.7m for the first six  months.
Over  the  period the order book strengthened further with  strong
bookings continuing throughout the period.

The  primary  markets for Dialight's opto-electronic products  are
the communications and e-business sectors, with customers such  as
CISCO,  3-Com, Lucent, Newbridge, Nokia, Ericsson and many others.
Increased  requirements  for broadband access  solutions  and  the
demand for next generation networks continues to grow strongly and
this  provides  an  excellent opportunity for Dialight,  which  is
already the market leader in the provision of visual communication
products into the sector.

Dialight's  strategy of providing a wide choice of opto-electronic
visual solutions to global communications and e-business customers
world-wide, will continue to fuel the company's growth in a sector
which  is  being driven by the global expansion of  the  internet,
communications, e-business and networking systems.

Additionally,  Dialight's Transport business, which  supplies  new
visual  technology  solutions, including solid state  modules  for
traffic  lights,  continues  to  demonstrate  substantial   future
potential.  The  installation  of new  technology  traffic  lights
continues strongly and Dialight retains market leadership in  this
growing   market.  Dialight  is  expected  to  benefit  from   new
legislation  in  the  State of New Jersey, which  is  to  make  it
mandatory to convert all traffic lights, arrows, pedestrian hands,
etc.  to new energy efficient technology. New Jersey is the  first
US  State  to  pass  such legislation. Dialight's  new  technology
traffic  signals  absorb  only 10% of the  energy  of  traditional
lights,  which makes a compelling economic and environmental  case
for  the  product.  This same technology is now being  applied  to
products  for  railway  signalling, runway lighting  at  airports,
beacons  for towers and buoys and many other potential new  market
opportunities.

Dialight  has  expanded its operations in Mexico  to  support  its
present  growth as well as expanding its automation at  the  North
Carolina  plant. Plans are being drawn up to build a  new,  larger
manufacturing facility at Juarez in Mexico, early in 2001.

SOLARTRON DIVISION

                   2000    1999
                     £m      £m
                ------- -------
Sales              30.5    15.5    +97%
Operating Profit    1.5     0.6    +150%

Following  the  acquisition of Mobrey in January,  its  successful
integration  with Solartron Industrial Systems is  well  underway.
The  new  company, Solartron Mobrey, now has all its manufacturing
in  plants at Slough, Crawley and Vichy in France. The project  is
on  target to be completed before the end of the year with much of
the  cost  reduction already in place. The Board is delighted  the
total  savings  will be marginally greater than the original  plan
and  will  be  achieved at less cost. The full  benefit  of  these
savings will, as expected, be realised next year.

As a result of these moves, Solartron's operations are much better
positioned  in their new locations, together with a  new  business
structure, to develop their respective businesses.

Although  trading in the hydro-carbons sector remains sluggish  as
investment  by  oil  companies lag behind  oil  price  rises,  the
trading performance of Solartron is expected to improve further in
the  second  half, with the full benefit of all the  cost  savings
being realised next year.

Solartron's  Metrology business continues to perform well  and  to
hold  its  position as world leader in the gauging sensor  market,
while  Solartron Analytical is seeing an improvement in its  Asian
market.

WESTON DIVISION

                   2000    1999
                     £m      £m
                ------- -------
Sales              18.9    19.0
Operating Profit    3.4     3.9

Weston  continued  to consolidate its position  in  the  aerospace
sector, as world leader in temperature measurement for large turbo
fan  engines  by winning new business at Rolls Royce and  Pratt  &
Whitney  through  Norwich Aero Products,  its  US  subsidiary.  As
previously predicted Weston produced a modest performance  by  its
standards in the first half, where sales were flat as a result  of
the  phasing  of certain programmes some of which have  seen  some
slippage. Prospects remain good with no fewer than 30 new customer-
commissioned products in development for new programmes with major
OEMs resulting in increased engineering expenditure in the period.

Weston's  position  in pressure measurement was also  strengthened
further  by  wins at TRW and Snecma, where a contract  to  install
pressure  scanning instrumentation in aero-engine  test  beds  was
secured.  The  company's recently introduced  Quartzonic  pressure
sensor range is growing well and enables Weston to offer customers
the   option   of  two  of  the  most  accurate  pressure   sensor
technologies available anywhere in the world.

As  part  of the Farnborough site disposal agreement, Weston  will
relocate  into the more modern, leased building on the site  early
in  2001  where  the  company  will have  more  space  for  future
expansion. All the costs associated with this move will  be  taken
into  the 2000 full year accounts and will be more than offset  by
the gain on the disposal of the property.

CASH FLOW

During  the  period the Group has continued to  invest  in  future
growth  both  in  capital expenditure (£3.0m), the acquisition  of
Mobrey  (£22.9m) and in new product development (£4.5m).  Although
the  Group once again demonstrated its ability to generate  strong
operational cash flows, which doubled to £12.7m, these investments
resulted in borrowings increasing in the first half to £31.3m  The
disposal of the Farnborough site in July (after the half year) for
£19.6m,  and the continued cash generation at the operating  level
will,  however, result in a much reduced borrowings level  at  the
year  end.  The net effect of the property sale and the total  re-
organisation and relocation costs, is a small one-off gain in  the
current year and a very positive cash contribution.

DIVIDEND

The  Board has declared an interim dividend of 3 pence per  share,
an  increase of 7% on last year (1999: 2.8p). The dividend will be
paid  on  20  October to shareholders registered on  29  September
2000.

OUTLOOK

For some time the Board has been of the view that Roxboro has been
undervalued by the stock market and it is for this reason  it  was
agreed  to  explore, on behalf of all shareholders, the option  of
the  Group  being taken private following approaches from  private
equity  companies.  Following the excellent performance  announced
today and with good prospects ahead of us, we now believe it is in
shareholders' interests that Roxboro continues as a quoted company
and  that  all our shareholders have the opportunity of benefiting
from the growth of the Group.

The  Board will continue to explore alternative means of enhancing
shareholders value.

Past  investment in new technologies and products  at  Weston  and
Dialight is paying off, while the Mobrey acquisition recently made
to   strengthen  Solartron,  has  resulted  in  a  stronger,  more
profitable  company. The growth in demand for our  new  technology
products  in the communications, e-commerce and transport  sectors
together  with our leadership in the aerospace sensor  market  and
the increasing strength of our measurement business all contribute
to the prospect of future profitable growth for Roxboro. The Board
is confident of the Group's prospects.

Sir Alan Cockshaw                                        Harry Tee
Chairman                                     Group Chief Executive





Group Profit and Loss Account
Unaudited interim results for the half year ended 30 June 2000

                                   2000    1999    1999
                               6 months6 months12 months
                                  ended   ended   ended
                                30 June 30 June31 December
                        Notes     £'000   £'000   £'000
                                  -----   -----   -----

Turnover
Continuing operations            67,915  60,395 124,836
Acquisitions                     13,755       -       -
                                  -----   -----   -----
                         2(a)    81,670  60,395 124,836
                                  -----   -----   -----
Operating profit before
 goodwill amortisation
Continuing operations            10,350   7,474  18,455
Acquisitions                         55       -       -
                                  -----   -----   -----
                                 10,405   7,474  18,455
                                  -----   -----   -----
Goodwill amortisation             (439)   (102)   (274)
                                  -----   -----   -----
Total operating profit   2(b)     9,966   7,372  18,181
Exceptional item:
Costs of restructuring the
 Operating Division       4     (3,640)       -       -
                                  -----   -----   -----

Profit on ordinary activities
 before interest                  6,326   7,372  18,181
                                  -----   -----   -----
Profit on ordinary activities
 before taxation           4      4,956   7,457  17,852
Tax on profit on ordinary
 activities                5     (1,641) (2,461) (6,057)
                                  -----   -----   -----
Profit for the financial period
 attributable to shareholders     3,315   4,996  11,795

Dividends                       (1,693) (1,577) (4,901)
                                  -----   -----   -----
Retained profit                   1,622   3,419   6,894
                                  -----   -----   -----

                                  Pence   Pence   Pence
Dividends per share       7         3.0     2.8     8.7
                                  -----   -----   -----
Earnings per share
Basic                     8         5.9     8.9    20.9
Adjusted                  8        11.3    10.1    22.5
Diluted                   8         5.7     8.7    20.7




Group Balance Sheet
Unaudited interim results at 30 June 2000
                                 
                                   2000    1999    1999
                                30 June 30 June31 December
                        Notes     £'000   £'000   £'000
                                  -----   -----   -----
Fixed assets
Intangible assets         6      17,509   6,744   6,572
Tangible assets                  38,042  32,109  32,561
Investments                          16      39      39
                                  -----   -----   -----
                                 55,567  38,892  39,172
                                  -----   -----   -----
Current assets
Stock                            21,657  13,152  13,770
Debtors                          30,061  24,592  24,686
Cash at bank and in hand          8,917   1,083   4,531
                                  -----   -----   -----
                                 60,635  38,827  42,987
Creditors:  Amounts falling due
 within one year
Borrowings                      (21,509)(12,569)(13,966)
Other creditors                 (25,049)(22,004)(21,968)
                                  -----   -----   -----
                                (46,558)(34,573)(35,934)

Net current assets               14,077   4,254   7,053
                                  -----   -----   -----

Total assets less current
 liabilities                     69,644  43,146  46,225

Creditors: Amounts falling due
 after more than one year
Borrowings                      (18,694)   (974)   (771)

                                  -----   -----   -----
                                 47,118  41,467  44,713
                                  -----   -----   -----
Capital and reserves
Called up share capital             564     563     563
Share premium account             5,045   4,871   4,893
Capital redemption reserve           51      51      51
Profit and loss account          41,458  35,982  39,206
                                  -----   -----   -----
                                 47,118  41,467  44,713
                                  -----   -----   -----



Group statement of total recognised gains and losses
Unaudited interim results for the half year ended 30 June 2000

                                   2000    1999    1999
                               6 months6 months12 months
                                  ended   ended   ended
                                30 June 30 June31 December
                                  £'000   £'000   £'000
                                  -----   -----   -----

Profit for the period attributable
 to equity shareholders           3,315   4,996  11,795
Currency translation differences on
 foreign currency net investments   630     636     362
                                  -----   -----   -----
Total gains recognised in
 the period                       3,945   5,632  12,157
                                  -----   -----   -----




Reconciliation of movements in shareholders' funds
Unaudited interim results for the half year ended 30 June 2000

                                   2000    1999    1999
                               6 months6 months12 months
                                  ended   ended   ended
                                30 June 30 June31 December
                                  £'000   £'000   £'000
                                  -----   -----   -----

Total recognised gains and losses 3,945   5,632  12,157
Dividends                        (1,693) (1,577) (4,901)
Shares issued                       153     282     304
Goodwill written back                 -      68      91
                                  -----   -----   -----
Net change to shareholders funds  2,405   4,405   7,651
Balance brought forward          44,713  37,062  37,062
                                  -----   -----   -----
Balance carried forward          47,118  41,467  44,713
                                  -----   -----   -----



Group Statement of Cash Flows
Unaudited interim results for the half year ended 30 June 2000

                                   2000    1999    1999
                               6 months6 months12 months
                                  ended   ended   ended
                                30 June 30 June31 December
                        Notes     £'000   £'000   £'000
                                  -----   -----   -----

Cash flow from operating activities
Net cash inflow from
 trading operations       3      12,690   6,266  18,714
Outflow related to
 exceptional item         4      (1,005)      -       -
                                  -----   -----   -----
Cash flow from operating
 activities                      11,685   6,266  18,714

Returns on investments and
 servicing of finance
Interest paid                   (1,644)   (208)   (635)
Interest received                   226     308     363
                                  -----   -----   -----
Net cash (outflow)/inflow from returns
 on investment and servicing
 of finance                     (1,418)     100    (272)

Taxation                        (2,575) (1,698) (7,234)

Capital expenditure and
 financial investment
Purchase of tangible fixed
 assets                          (3,046)(16,819)(19,580)
Sale of tangible fixed assets       204      57     106
                                  -----   -----   -----
Net cash outflow from investing
 activities                      (2,842)(16,762)(19,474)

Acquisitions and disposals      (22,913) (7,536) (7,536)

Equity dividends paid            (3,324) (3,034) (4,611)
                                  -----   -----   -----
Cash outflow before use of liquid
 resources and financing        (21,387)(22,664)(20,413)
                                  -----   -----   -----

Financing
Issue of ordinary share capital     153     282     304
Loan advances                    25,665  14,001   9,699
Capital element of finance lease
 rental payments                   (45)     (8)    (60)
                                  -----   -----   -----
                                 25,773  14,275   9,943
                                  -----   -----   -----

Increase/(decrease) in cash
 in the period                    4,386  (8,389)(10,470)
                                  -----   -----   -----

Reconciliation of net cash flow to movements in net debt

                                   2000    1999    1999
                               6 months6 months12 months
                                  ended   ended   ended
                                30 June 30 June31 December
                                  £'000   £'000   £'000
                                  -----   -----   -----

Increase/(decrease) in cash
 in the period                    4,386  (8,389)(10,470)
Cash flow from increase in debt
  and lease financing           (25,620)(13,993) (9,639)
                                  -----   -----   -----
Change in net debt resulting
 from cash flows                (21,234)(22,382)(20,109)
Loans and finance leases
 acquired with subsidiary
 undertakings                         -  (1,345) (1,345)
Loan notes issued                     -    (590)   (590)
Translation difference              154     (39)    (58)
                                  -----   -----   -----
Movement in net debt
 in the period                  (21,080)(24,356)(22,102)
Net (debt)/ cash at
 beginning of period            (10,206) 11,896  11,896
                                  -----   -----   -----
Net debt at end of period      (31,286)(12,460)(10,206)
                                  -----   -----   -----



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 1999.

2) Segmental information

   Turnover, operating profit and net assets are analysed below:

                                   2000    1999    1999
                               6 months6 months12 months
                                  ended   ended   ended
                                30 June 30 June31 December
                                  £'000   £'000   £'000
                                  -----   -----   -----

a) Turnover

   By geographical destination:
   UK                            19,448  14,292  29,974
   USA                           38,240  32,729  65,334
   Other European countries      14,814   7,956  15,896
   Rest of the world              9,168   5,418  13,632
                                  -----   -----   -----
                                 81,670  60,395 124,836
                                  -----   -----   -----
   By geographical origin:
   UK                            43,391  31,869  66,882
   USA                           37,331  30,882  63,137
   Other European countries       6,261     896   1,763
                                  -----   -----   -----
                                 86,983  63,647 131,782
   Inter-segment sales           (5,313) (3,252) (6,946)
                                  -----   -----   -----
                                 81,670  60,395 124,836
                                  -----   -----   -----
   By business operation:
   Dialight                      32,221  25,810  52,608
   Weston                        18,941  19,038  38,340
   Solartron                     30,508  15,547  33,888
                                  -----   -----   -----
                                 81,670  60,395 124,836
                                  -----   -----   -----
Notes to the Financial Report

2) Segmental information (continued)

                                   2000    1999    1999
                               6 months6 months12 months
                                  ended   ended   ended
                                30 June 30 June31 December
                                  £'000   £'000   £'000
                                  -----   -----   -----

b) Operating profit

   By geographical origin:
   UK                             5,520   4,703  11,946
   USA                            6,227   4,087   8,814
   Other European countries       (202)    (42)   (152)
                                  -----   -----   -----
   Operating profit before
    central costs and
    goodwill amortisation        11,545   8,748  20,608
   Central costs                 (1,140) (1,274) (2,153)
   Goodwill amortisation           (439)   (102)   (274)
                                  -----   -----   -----
   Operating profit on ordinary
    activities                    9,966   7,372  18,181
                                  -----   -----   -----
   By business operation:
   Dialight                       6,668   4,232   8,904
   Weston                         3,351   3,873   8,334
   Solartron                      1,526     643   3,370
                                  -----   -----   -----
   Operating profit before central costs
    and goodwill amortisation    11,545   8,748  20,608
   Central costs                 (1,140) (1,274) (2,153)
   Goodwill amortisation           (439)   (102)   (274)
                                  -----   -----   -----
   Operating profit on ordinary
    activities                    9,966   7,372  18,181
                                  -----   -----   -----

Notes to the Financial Report

2) Segmental information (continued)

                                   2000    1999    1999
                               6 months6 months12 months
                                  ended   ended   ended
                                30 June 30 June31 December
                                  £'000   £'000   £'000
                                  -----   -----   -----

c) Net assets

   By geographical origin:
   UK                            23,545  18,516  19,220
   USA                           14,279  11,660  11,862
   Other European countries       2,562     198     (99)
                                  -----   -----   -----
                                 40,386  30,374  30,983
   Unallocated central net assets 6,732  11,093  13,730
                                  -----   -----   -----
                                 47,118  41,467  44,713
                                  -----   -----   -----
   By business operation:
   Dialight                      16,778  12,765  13,500
   Weston                         9,248   8,108  11,046
   Solartron                     14,360   9,501   6,437
                                  -----   -----   -----
                                 40,386  30,374  30,983
   Unallocated central net assets 6,732  11,093  13,730
                                  -----   -----   -----
                                 47,118  41,467  44,713
                                  -----   -----   -----

   The  comparative figures shown in note 2 for the  period  ended
   30  June  1999 and the period ended 31 December 1999 have  been
   restated  following the reorganisation of the Group into  three
   business  entities.  The reorganisation achieved  clarity  with
   the Group's activities focused under 3 brand names.

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

                                   2000    1999    1999
                              6 months6 months12 months
                                 ended   ended   ended
                                30 June 30 June31 December
                                  £'000   £'000   £'000
                                  -----   -----   -----

   Operating profit               9,966   7,372  18,181
   Depreciation                   2,847   2,080   4,301
   Goodwill amortisation            439     102     274
   Profit on sale of tangible
    fixed assets                    (52)     (2)    (26)
   Increase in stocks            (1,769) (1,485) (2,337)
   Decrease/(increase)
    in debtors                    2,005  (2,947) (3,084)
   (Decrease)/increase
    in creditors                   (552)  1,235   1,314
   Other non cash items            (194)    (89)     91
                                  -----   -----   -----
   Net cash inflow from
    operating activities         12,690   6,266  18,714
                                  -----   -----   -----


4) Exceptional items
                                   2000    1999    1999
                              6 months6 months12 months
                                 ended   ended   ended
                                30 June 30 June31 December
                                  £'000   £'000   £'000
                                  -----   -----   -----

   Recognised in arriving at operating profit:
   Non-recurring costs

   Aborted acquisition costs          -     189     189
   Re-organisation costs              -     270     270
   Costs in respect of successful
     litigation                       -     265     319
                                  -----   -----   -----
                                      -     724     778
                                  -----   -----   -----

   Recognised below operating profit:
     Costs of restructuring the
     operating division           3,640       -       -
                                  -----   -----   -----
                                  3,640     724     778
                                  -----   -----   -----

   The  tax effect in the profit and loss account relating to  the
   exceptional item recognised below operating profit is a  credit
   of £1,032,000.

5) Taxation

   The  tax charge of £1,641.000 for the half year to 30 June 2000
   reflects  the  anticipated effective  tax  rate  for  the  year
   ending  31 December 2000. The tax charge arising from the  sale
   of  the  Farnborough  site, which is lower  than  the  standard
   rate,  has  been included in the calculation of the anticipated
   effective tax rate.

6) Acquisitions

   The  Group acquired the entire issued share capital of each  of
   the  companies  in  the  Mobrey Group on  8  January  2000  for
   consideration (including costs) of £23.86m. The fair  value  of
   net  assets  acquired  amounted  to  £12.484m  giving  rise  to
   goodwill of approximately £11.376m.

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

7) The  directors have declared an interim dividend of 3.0p (1999:
   2.8p  net)  payable on 20 October 2000 to shareholders  on  the
   register on 29 September 2000.

8) Earnings  per  share  attributable to equity  shareholders  are
   based  upon  the  weighted average number of  shares  in  issue
   during  the  period  of  56,373,862 (30  June  1999  56,276,392
   shares;  31  December  1999  56,302,832  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.

                                   2000    1999    1999
                              6 months6 months12 months
                                 ended   ended   ended
                                30 June 30 June31 December
                                  Pence   Pence   Pence
                                  -----   -----   -----

   Reconciliation to adjusted
    earnings per share:
   Basic earnings per share         5.9     8.9    20.9
   Non-recurring exceptional costs  4.6       -       -
   Non-recurring operating costs      -     1.0     1.1
   Goodwill amortisation            0.8     0.2     0.5
                                  -----   -----   -----
   Adjusted earnings per share     11.3    10.1    22.5
                                  -----   -----   -----

9) Events since the balance sheet date

   On  20  July  2000  the  Group announced the  disposal  of  the
   Farnborough site for a cash consideration of £19.6 million  and
   a leaseback of part of the site.

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 1999 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.