Acquisition Completed

Spirent PLC 19 December 2000 COMPLETION OF THE ACQUISITION OF HEKIMIAN LABORATORIES, INC Spirent plc ('Spirent'), the international network technology company, today announces the successful completion of its acquisition of Hekimian Laboratories, Inc. from the Axel Johnson Group. The total consideration of US$1,575.0 million has been satisfied by a cash payment of US$712.3 million (financed from the net proceeds of Spirent's recently concluded 5 for 24 rights issue) and the issue of 108,398,257 Spirent new ordinary shares (representing 11.7 per cent of Spirent's enlarged issued share capital) to Lexa BV, which is wholly owned by the Axel Johnson Group. Admission of these shares to the Official List is expected to become effective on Tuesday 19 December 2000. Spirent is pleased to confirm that it has appointed Goran Ennerfelt, President and Chief Executive Officer of Axel Johnson AB, as a non-executive director of Spirent with immediate effect. Mr Ennerfelt is married to Antonia Ax:son Johnson, the Chairman and fourth generation owner of the Axel Johnson Group. Nicholas Brookes, Chief Executive of Spirent, commented: 'The completion of our acquisition of Hekimian is an important milestone in the strategic development of Spirent. The outstanding strategic fit of our telecoms test business with Hekimian's strengths in network monitoring will make Spirent a world leader in service assurance systems for next generation networks. I look forward to the future of the enlarged group with confidence.' Enquiries: Nicholas Brookes, Spirent plc +44 (0) 1293 767676 Chief Executive Eric Hutchinson, Finance Director Tim Hancock Rothschild +44 (0) 20 7280 5000 William Spurgin David Smith Schroder Salomon +44 (0) 20 7986 4000 Philip Drinkall Smith Barney Jon Coles Brunswick +44 (0) 20 7404 5959 Rupert Young Background note Spirent plc is an international network technology company providing state-of-the-art solutions with a focus on high growth, high margin activities. It is a world leader in advanced telecommunications testing systems and network products. Spirent is a FTSE 100 company quoted on the London Stock Exchange (ticker SPT) in the Information Technology Hardware sector. The Company operates a Level 1 American Depository Receipt programme (ticker: SPNUY; CUSIP number: 84856M100). For information, contact Brian Heston, The Bank of New York, American Depositary Receipts, 101 Barclay St, 22 West, New York, NY10286. Phone: (212) 815 3938, Fax: (212) 571 3050. e-mail: bheston@bankofny.com web site: www.adrbny.com.
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