£14.8M Acquisition of Specified Fuels & Chemicals

Ascot PLC
13 March 2000


Contact       Howard Dyer, Executive Chairman
              Ascot Plc                                       0207 815 0805

              David Bick
              Holborn Public Relations                        0207 929 5599
                                                 [e-mail]




                                   Ascot Plc

          Acquisition of Specified Fuels & Chemicals ('Specified')
                      for $23.5 million (£14.8 million)


KEY POINTS

* Significant increase in chemical custom processing capacity in the growing  
  US market where Ascot is winning new contracts and requires capacity.

* Ascot is the US market leader for distillation custom processing;  Specified
  is the US market leader, and Ascot the European market leader, in supplying 
  research and reference fuels to the automotive, fuel and lubricant          
  industries.

* The combined businesses make Ascot the world's largest supplier of research 
  and reference fuels.

* For the year ended 31 December 1999, Specified generated turnover of $26.6  
  million (£16.8 million) and profit before interest and tax of $3.1 million  
  (£2.0 million).   Net assets acquired, valued as at the same date, are $24.4
  million (£15.4 million).

* Purchase price of $23.5 million (£14.8 million) debt free, below net assets,
  paid in cash at completion.

* Acquisition is expected to be earnings neutral in the first full year and   
  earnings enhancing thereafter as the additional capacity is brought on      
  stream.


Commenting on the acquisition, Howard Dyer, Executive Chairman of Ascot, said

'Following our announcement that we are concentrating the Group's future
activities on the chemicals sector, this acquisition represents an important
opportunity to continue to develop Ascot Speciality Chemicals in the USA.  
Specified provides significant additional custom processing capacity
complementing our existing operations in Houston which are fully utilised.  It
also provides excellent infrastructure and space for further expansion'.


Ascot Plc has acquired Specified Fuels & Chemicals LLC ('Specified') for a
cash consideration, paid on completion, of $23.5 million (£14.8 million)
slightly below the net asset value of $24.4 million (£15.4 million). 
Following completion, the Company will be debt free.

Specified provides major chemical companies with chemical custom manufacturing
services and manufactures research and reference fuels.  The company is based
in Houston, Texas, less than one mile from Ascot's own facility.

Ascot's chemical custom processing business in Houston is currently
negotiating with major chemical and petrochemical companies a number of
significant custom processing contracts for which additional capacity is
required.  The acquisition of Specified immediately brings that additional
capacity and space available for expansion in a location that is virtually
adjacent to Haltermann's plant and one that, like Haltermann's, has excellent
infrastructure, being accessible by water as well as by road and rail.

In addition to providing much needed additional capacity, Specified is the US
market leader in supplying research and reference fuels which are used in
automotive engine tests for emission and fuel economy certification and for
engine lubrication and fuel research and development.   Specified therefore
complements Haltermann Products which is the market leader in research and
reference fuels in Europe, having an estimated 60% share of the market.   The
acquisition is expected to bring the benefits of shared research and
technology as well as a complementary customer base.

Funding for the consideration will be met through existing cash resources, and
a new $15 million facility provided by Dresdner Bank AG in London.



Notes to Editors:

Ascot's core business is fine and speciality chemicals.  The Speciality
Chemicals and Fine Chemicals divisions, which are together responsible for
approximately 60% of Group turnover and 75% of Group profits, were formed
following the successful acquisition and integration of the Haltermann Group
(acquired by Ascot in December 1998) and ChiroTech (the world leading chiral
technology company acquired by Ascot in September 1998 (30%) and October 1999
(70%)).  Ascot Speciality Chemicals is the world's largest independent
chemical custom processor and also manufactures speciality products.  Fine
Chemicals comprises ChiroTech and the manufacturing facilities of Mitchell
Cotts Chemicals.  The Group also has a number of other operations involved in
engineering and property.  As announced on 31 January 2000, Ascot will divest
of its four small engineering businesses and other non-core assets over the
next 18 months.  These divestments will enhance the Group's financial ability
to look for acquisitions to complement the Speciality Chemicals and Fine
Chemicals interests and to grow both businesses organically.

Ascot is headquartered in London and employs over 2,000 people world-wide. 
The Group has a substantial presence in the UK, Germany, Belgium, Scandinavia
and North America and a broad international customer base for all of its
businesses.