Result of Equity Issue

Spirent PLC 8 December 2000 Not for release, publication, duplication or distribution in or into the United States of America, Canada, Australia, Japan, the Republic of Ireland, France, the Netherlands or South Africa. Spirent plc COMPLETION OF RIGHTS ISSUE IN CONNECTION WITH ACQUISITION OF HEKIMIAN LABORATORIES, INC The Board of Spirent plc ('Spirent') is pleased to announce that by 3.00 p.m. on 7 December 2000, the latest time and date for acceptances, valid acceptances had been received in respect of 121,093,145 new Ordinary Shares of 3 1/3p each in Spirent. This represents approximately 86% of the total number of new Ordinary Shares to be issued by Spirent pursuant to the 5 for 24 Rights Issue announced on 16 November 2000 in connection with the acquisition of Hekimian Laboratories, Inc. Spirent believes that shareholders holding approximately 9% of the issued shares (predominantly US shareholders) were ineligible, under the terms of the Rights Issue, to take up their rights. As a result, of those shareholders who Spirent believes were eligible to take up their rights, approximately 95% have done so. In accordance with the arrangements referred to in the circular to shareholders dated 16 November 2000, subscribers have today been procured at a price of 560p per new Ordinary Share for those new Ordinary Shares for which valid acceptances were not received and rights attributable to certain overseas shareholders. The net proceeds of such subscriptions, after deduction of the Rights Issue Price of 375p per new Ordinary Share and the expenses of procuring such subscriptions, will be paid, in accordance with the terms of the Rights Issue, to the persons entitled thereto, except that individual amounts of less than £3.00 will be retained for the benefit of Spirent. 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 3.00 p.m. on 21 December 2000. It is expected that definitive share certificates will be despatched by 8 January 2001. The Rights Issue was underwritten by N M Rothschild & Sons Limited, Schroder Salomon Smith Barney and Cazenove & Co and the brokers to the issue were Cazenove & Co and Schroder Salomon Smith Barney. For further information please contact: Nicholas Brookes, Chief Executive Spirent +44 (0) 1293 767676 Eric Hutchinson, Finance Director 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. The content of this announcement, which has been prepared by and is the sole responsibility of the directors of Spirent plc, has been approved by N M Rothschild & Sons Limited and Schroder Salomon Smith Barney, which are regulated in the UK by The Securities and Futures Authority Limited, for the purposes of Section 57 of the Financial Services Act 1986. N M Rothschild & Sons Limited, Schroder Salomon Smith Barney and Cazenove & Co are acting for Spirent plc and no one else in connection with the Rights Issue and Acquisition and will not be responsible to anyone other than Spirent plc for providing the protections afforded to their customers or for providing advice in relation to the Rights Issue and Acquisition. The contents of this press release do not constitute an offer or invitation to acquire shares in Spirent plc.
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