Result of Equity Issue

Porvair PLC
11 July 2001

                                 PORVAIR PLC

                        Result of 3 for 7 Rights Issue

Porvair announces that, by 3.00 pm on 10 July 2001, the latest time and date
for acceptances under the Rights Issue, valid acceptances had been received in
respect of 7,512,257 New Ordinary Shares, representing approximately 68.04 per
cent. of the 11,040,457 New Ordinary Shares offered by way of rights to
Qualifying Shareholders at 260p per share.

It has not been possible to procure subscribers for the balance of 3,528,200
New Ordinary Shares for which valid acceptances were not received at a price
(net of expenses) in excess of the Issue Price of 260p per share. Accordingly,
sub-underwriters have been asked to subscribe for these shares at 260p per
share and are being advised of their allocation today. There is no premium
which falls to be distributed to Qualifying Shareholders who did not take up
their entitlements in accordance with the terms of the Rights Issue.

Dealings in the New Ordinary Shares commenced, fully paid, at 8.00 am earlier
today. It is expected that definitive share certificates in respect of the New
Ordinary Shares will be dispatched by 20 July 2001.

Terms defined in the Company's prospectus dated 30 May 2001 shall, unless the
context requires otherwise, have the same meanings in this announcement.

Ben Stocks, Chief Executive of Porvair, commented:

'The £27.3 million raised from the Rights Issue allows us to continue our
growth and sustain the development of our promising fuel cell materials
technologies, building on our strong position in the marketplace. The funds
raised will be supplemented further by the recent development grant awarded by
the US Department of Energy to aid Porvair's research and development
programme in fuel cell components technology. The award is a tremendous
accolade for Porvair and a great endorsement for our technology.'

Enquiries:
Porvair plc                                            Tel: [phone]
Mark Moran, Finance Director

Close Brothers Corporate Finance Limited               Tel: [phone]
Mark Wrightson, Chairman

Andrew Cunningham, Director

Beeson Gregory Limited                                 Tel: [phone]

Chris Callaway, Director

Buchanan Communication                                 Tel: [phone]
Charles Ryland
Catherine Miles

 This announcement is issued by Porvair plc and the directors of Porvair plc
are the persons responsible for the information contained in this
announcement. Close Brothers Corporate Finance Limited, which is regulated by
the Securities and Futures Authority Limited is acting for Porvair plc and for
no-one else in relation to the Rights Issue and will not be responsible to any
other person for providing the protections afforded to its customers or for
providing advice in relation to the Rights Issue.