Result of Equity Issue

Fairey Group PLC
26 May 2000

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


FAIREY GROUP PLC

95.8% TAKE UP OF 1 for 6 RIGHTS ISSUE OF UP TO 15,950,872 NEW ORDINARY SHARES
AT 355p PER SHARE


The Board of Fairey Group plc (Fairey) is pleased to announce that by midnight
on 25 May, 2000, the latest time and date for acceptances, valid acceptances
have been received in respect of 15,280,229 new Ordinary Shares, representing
approximately 95.8% of the total number of new Ordinary Shares to be issued by
Fairey pursuant to the 1 for 6 rights issue announced on 3 May, 2000.

In accordance with the arrangements referred to in the prospectus to
shareholders dated 3 May, 2000, subscribers have been procured at a price of
375p per new Ordinary Share for those new Ordinary Shares for which valid
acceptances were not received. The net proceeds of such subscription, after
deduction of the rights issue price of 355p per new Ordinary Share and the
expenses of procuring such subscription, will be paid in accordance with the
terms of the Rights Issue to the provisional allottees who have not taken up
their entitlements pro rata to their lapsed provisional allotments, except
that individual amounts of less than £3.00 will be retained for the benefit of
Fairey.

Sub-underwriters will accordingly not be required to subscribe for any new
Ordinary Shares.

The latest time for registering renunciations of fully-paid allotment letters
is 3.00p.m. on 16 June, 2000. It is expected that definitive certificates for
new Ordinary Shares will be despatched by 23 June, 2000. 

The rights issue was underwritten by WestLB Panmure Limited and the brokers to
the issue are Cazenove & Co. and Merrill Lynch International.


For further information please contact:

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


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