WORTHINGTON GROUP PLC
25 October 1999
SALE OF WORTHINGTON HOUSE
The Board of Worthington Group plc ('Worthington') are pleased to announce that
contracts have today been exchanged for the sale of their old Head Office
building at Willesden in North West London for a consideration of £2.3m to
M P Moran & Sons Limited. Completion will take place on 22 November 1999. The
sale of the Willesden property represents a significant step in the Board's
strategy to reduce Group borrowings and the proceeds of the sale will be used
to repay bank borrowings. In addition, the relocation of the Group's Head
Office to Shipley in West Yorkshire in June this year is expected to result in
annual savings of £500,000.
Joseph C Dwek CBE
Executive Chairman
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