Senior sells UK Business

Senior PLC 18 June 2001 18 June 2001 SENIOR SELLS UK AIR SYSTEMS BUSINESS Senior plc ('Senior') is pleased to announce that it has sold its UK Air Systems business, Senior Air Systems, to Eaton-Williams Group Limited, a UK subsidiary of Nortek Inc., a US based Company. Senior Air Systems, part of the Group's Specialised Industrial Division, is a manufacturer of air handling and air distribution products. The divestment was effected through the sale of the trade, fixed assets and inventory of the business. In the year to 31 December 2000, Senior Air Systems reported a loss of £0.7m (before exceptional costs of £0.9m) on turnover of £12.7m. The sale proceeds of £0.9m, plus £0.6m from the realisation of debtors over liabilities, will be used to reduce the Group's borrowings. The disposal will result in a loss of £ 0.9m in addition to writing-off £3.5m of goodwill previously set-off against reserves. Commenting on the disposal, Graham Menzies, Group Chief Executive said: 'Senior Air Systems has a strong market position and will fit well with the acquirer. The sale, together with the disposal of the Polenz business in March, is in line with Senior's strategy to focus on its Aerospace and Automotive businesses'. For further information please contact: Senior plc James Kerr-Muir, Chairman 01923 714702 Graham Menzies, Group Chief Executive 01923 714702 Mark Rollins, Group Finance Director 01923 714738 Finsbury Limited 020 7251 3801 James Murgatroyd/Morgan Bone Internet users will be able to view this announcement, together with other information about Senior plc, on the web site: www.seniorplc.com You may receive further Senior plc News Releases by post fax or e-mail. If you would like to change from the current method please contact Lisa Johnstone at Finsbury Limited, at the telephone number above, or e-mail your request to her at Lisa.Johnstone@finsbury.com Note to the Editors: Senior is an international manufacturing group with annual sales of around £ 500m and with operations in 18 countries. Senior designs, manufactures and markets high technology components and systems for the principal original equipment producers in the worldwide aerospace, automotive and specialised industrial markets. Senior's policy is to enhance shareholder value by improving operating performance and customer service levels and by developing its market positions in the aerospace and automotive industries.

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