Disposal

THE ALUMASC GROUP PLC 23 September 1999 THE ALUMASC GROUP plc Disposal of Arnold Plastics Alumasc, the premium engineering and building products group, announces that, in line with the Group's ongoing restructuring programme, it has recently disposed of the business and assets of Arnold Plastics, a plastic injection moulding and toolmaking business based in Birmingham, to Webgrove Holdings Ltd. The consideration to be received for these assets will be approximately £0.85 million in cash and compares with a net book value at 30 June 1999 of £1.3 million. The loss on disposal has been accounted for in the accounts for the year ended 30 June 1999. Arnold Plastics made a loss before tax of £0.1 million in the year ended 30 June 1999. The proceeds will be applied to reduce Alumasc's borrowings which amounted to £0.7 million at 30 June 1999, representing gearing of 1.9 per cent. Enquiries: The Alumasc Group plc 01536-383844 David Sowerby (Finance Director) Bankside Consultants Limited 0171-220 7477 Charles Ponsonby
UK 100

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