Completion of Acquisition

Fairey Group PLC
4 July 2000


 NOT FOR RELEASE; PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES OF
             AMERICA; CANADA; AUSTRALIA OR THE REPUBLIC OF IRELAND


                               FAIREY GROUP PLC

                           COMPLETION OF ACQUISITION



The Board of Fairey Group plc (Fairey) is pleased to announce that following
the approval of AGIV's shareholders of the sale to Fairey of Spectris AG
Sensoren und Systeme (Spectris) at a shareholders' meeting held on 27 June,
2000, the acquisition of Spectris by Fairey was completed on 3 July, 2000.


Enquiries:

Fairey Group plc John Poulter           T: [phone]
                 Chief Executive        F: [phone]


Financial Dynamics                      Richard Mountain   T: [phone]
                                        F: [phone]