Proposed Divestment

Spirent PLC
12 March 2003

                                                             816 - 12 March 2003



                                   SPIRENT PLC

                PROPOSED DIVESTMENT OF INTERESTS IN THE WAGO COMPANIES
 

Spirent plc (LSE: SPT; NYSE: SPM), a leading international network technology
company, today announces that it has reached agreement for the divestment of its
interests in the WAGO companies, its interconnection joint venture, for a total
consideration of £60.7 million (comprising €83.0 million and CHF7.4 million) in
cash to its joint venture partners, the Hohorst family.

Completion of the divestment of WAGO is conditional upon, inter alia, the
approval of Spirent's Ordinary shareholders, to be sought at an Extraordinary
General Meeting to be convened for 31 March 2003.

Commenting on the divestment, Nicholas Brookes, Chief Executive, said:

'Spirent has had a long association with WAGO and we have seen the company grow
substantially over the years.  We are pleased that the Hohorst family are
purchasing our interests and we wish them, the company and its employees well
for the future.'

Preliminary Results

Spirent has today made a separate announcement detailing its preliminary results
for the year to 31 December 2002.

                                    - ends -


Enquiries


Nicholas Brookes, Chief Executive       Spirent plc           [phone]
Eric Hutchinson, Finance Director

Investor Relations
Catherine Nash                          Spirent plc           [phone]

Media
Jon Coles/Rupert Young                  Brunswick            [phone]

About Spirent

Spirent plc is an international network technology company providing
state-of-the-art systems and solutions for a broad range of customers worldwide.
Our Communications group is a worldwide provider of integrated performance
analysis and service assurance systems for next-generation network technologies.
Our Network Products group provides innovative solutions for fastening,
identifying, insulating, organising, routing and connectivity that add value to
electrical and communication networks in a wide range of applications.  Our
Systems group offers integrated product solutions for the aerospace and power
controls markets.  Further information about Spirent plc can be found at
www.spirent.com

Spirent plc is listed on the London Stock Exchange (ticker: SPT) and on the New
York Stock Exchange (ticker: SPM; CUSIP number: 84856M209) with one American
Depositary Receipt representing four Ordinary shares.

Spirent and the Spirent logo are trademarks of Spirent plc.  All other
trademarks or registered trademarks are held by their respective companies.  All
rights reserved.

This press release may contain forward-looking statements (as that term is
defined in the United States Private Securities Litigation Reform Act 1995)
based on current expectations or beliefs, as well as assumptions about future
events.  You can sometimes, but not always, identify these statements by the use
of a date in the future or such words as 'will,' 'anticipate,' 'estimate,'
'expect,' 'project,' 'intend,' 'plan,' 'should,' 'may,' 'assume' and other
similar words.  By their nature, forward-looking statements are inherently
predictive and speculative and involve risk and uncertainty because they relate
to events and depend on circumstances that will occur in the future.  You should
not place undue reliance on these forward-looking statements, which are not a
guarantee of future performance and are subject to factors that could cause our
actual results to differ materially from those expressed or implied by these
statements.  Such factors include, but are not limited to: the effects of
competition on our business; our ability to develop and commercialise new
products and services and realise product synergies; our ability to conclude the
divestment of our interests in the WAGO joint venture; our ability to effect
certain amendments to the terms of our loan notes and bank facility; risks
relating to the acquisition or sale of businesses and our subsequent ability to
integrate businesses; our ability to meet and achieve the benefits of our cost
reduction goals and otherwise successfully adopt cost structures to respond to
changes in business conditions; risks that our cost cutting initiatives will
impair our ability to develop products and remain competitive; our ability to
improve efficiency and adapt to the current economic slowdown and other changes
in demand; changes in the business, financial condition or prospects of one or
more of our major customers; our reliance on third party manufacturers and
suppliers; risks of not retaining or increasing market share; our exposure to
liabilities for product defects; our reliance on proprietary technology; our
ability to attract and retain qualified personnel; risks of doing business
internationally; changes in market conditions in the markets in which we
participate or in general economic or political conditions; and other risks
described from time to time in Spirent plc's Securities and Exchange Commission
periodic reports and filings.  The Company undertakes no obligation to update
any forward-looking statements contained in this press release, whether as a
result of new information, future events or otherwise.



                                  SPIRENT PLC

             PROPOSED DIVESTMENT OF INTERESTS IN THE WAGO COMPANIES


Introduction

Spirent announces that members of the Spirent Group have entered into agreements
with members of the Hohorst family and companies controlled by them for the sale
of Spirent's  51 per cent interests in WAGO, its interconnection joint venture,
for a total consideration of £60.7 million (comprising €83.0 million and CHF7.4
million) payable in cash, in full, on completion (the 'Divestment').

The Hohorst family is Spirent's joint venture partner in WAGO.  Members of and
companies controlled by the Hohorst family own the remaining 49 per cent
interests in WAGO and have joint management control rights with Spirent over the
WAGO business.  Established in 1974 between members of the Hohorst family and
Spirent, WAGO manufactures and markets a range of innovative electrical wire
interconnection and termination systems.  These products are marketed and sold
globally under the WAGO brand name.

In view of the size of the Divestment and since Spirent's interests in WAGO are
to be sold to members of the Hohorst family and companies controlled by them,
including Wolfgang Hohorst and Sven-Michael Hohorst, both of whom are directors
of certain of the companies comprised in the WAGO group (and are therefore
deemed to be related parties under the Listing Rules of the UK Listing
Authority), the Divestment is conditional, inter alia, on the approval of
Spirent's shareholders.  This will be sought at an Extraordinary General Meeting
of the Company to be held on 31 March 2003.

Information on the WAGO Companies

The WAGO companies comprise WAGO Kontakttechnik GmbH and WAGO-Verwaltungs GmbH,
both based in Germany (together with their respective subsidiaries, 'WAGO
Germany'), and WAGO Contact S.A., based in Switzerland, together with a number
of directly or indirectly owned subsidiary companies in Western and Eastern
Europe, North America, India and the Far East.  At 31 December 2002, WAGO had
operations in 16 countries and employed approximately 2,800 people worldwide.

Since 1974, WAGO has grown organically through international expansion and the
development of its product range.  WAGO's core business is the design,
manufacture and marketing of a wide range of innovative electrical wire
interconnection and termination systems featuring WAGO's spring or screwless
pressure technology.  WAGO's products are used in a broad range of applications
and industries, including ventilation and heating systems, machine tool
manufacture, building installations, automotive engineering, power supply, the
steel industry and the food industry.  The products are marketed globally under
the WAGO brand name and are sold either directly or through independent sales
agencies.

Members of the Hohorst family and Spirent have joint management control rights
over the WAGO companies.  Accordingly, and due to the requirements of Financial
Reporting Standard 9 in relation to associates and joint ventures, Spirent's
interests in WAGO are accounted for as a joint venture under the gross equity
method of accounting in the consolidated accounts of Spirent.

For the year to 31 December 2002, Spirent's attributable 51 per cent share of
WAGO's turnover was £75.6 million and Spirent's attributable 51 per cent share
of WAGO's profit after taxation was £4.0 million.  At 31 December 2002,
Spirent's attributable 51 per cent share of the net assets of the WAGO companies
amounted to £50.1 million.

Terms of the Divestment

Spirent has entered into a series of agreements for the sale of its interests in
the WAGO companies to members of the Hohorst family and companies controlled by
them for a total cash consideration of £60.7 million (comprising €83.0 million
for WAGO Germany and Spirent's nominal holdings in certain other companies owned
by the Hohorst family and CHF7.4 million for WAGO Contact S.A.) payable in cash,
in full, on completion.

Financial Effects of the Divestment and use of Proceeds

From completion of the Divestment, the income derived from Spirent's
attributable share of WAGO will no longer be included in Spirent's consolidated
financial statements.  The only contribution to Spirent's cashflow from WAGO for
the year to 31 December 2002 was a dividend of £0.2 million (2001 £1.6 million;
2000 £1.1 million).  Accordingly, apart from the proceeds of the Divestment, the
Divestment will not have a material effect on Spirent's cashflow on an ongoing
basis.

The Divestment requires the consent of the holders of Spirent's US dollar
denominated loan notes (the 'Loan Notes') and the lenders under Spirent's
syndicated multi-currency credit facility (the 'Syndicated Bank Facility').  In
addition, to provide the Spirent Group with an increase in the level of headroom
available in relation to certain of the financial covenants, amendments to the
terms of the Loan Notes and the Syndicated Bank Facility have been agreed.
These consents and amendments are conditional on completion of the Divestment
and the application of the proceeds, net of any tax and expenses, to pre-pay
approximately £45.8 million of the Loan Notes and pay an associated contractual
make-whole amount of approximately £12.4 million.

Extraordinary General Meeting

A circular convening the Extraordinary General Meeting to approve the Divestment
and giving further information on the Divestment will be posted to shareholders
shortly.

The Extraordinary General Meeting will be held at Spirent House, Crawley
Business Quarter, Fleming Way, Crawley, West Sussex, RH10 9QL at 11.00 am on 31
March 2003.

The following exchange rates, being the relevant exchange rates at 11 March 2003
(the latest practicable date prior to the publication of this announcement),
have been used in this announcement:

Euro : Sterling (€ : £)              1.45 : 1.00
Swiss Franc : Sterling (CHF : £)     2.12 : 1.00


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