Disposal

Macfarlane Group PLC
04 November 2003

                                                                 4 November 2003


    Macfarlane Group completes disposal of Northern packaging manufacturing
                                   operations


Macfarlane Group PLC announces that formal completion of the agreement for the
disposal of the business and certain assets and liabilities of Macfarlane's
Northern packaging manufacturing operations in Dundee, Govan and North Shields
to DS Smith PLC for a cash consideration of £0.9m has been effected today.



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