Fthr re Disposal

Avingtrans PLC
20 February 2001

            Avingtrans plc ('the Company') announces that following completion
            of the sale of its operating companies to Goldstart Limited in
            December 2000, the principal operating company, Frank Usher
            Limited, was indebted to the Company in the sum of £481,291 of
            which £381,291 represents debts which Frank Usher Limited failed
            to discharge following completion and the sum of £100,000 which is
            due to be repaid upon resolution of an insurance claim in respect
            of the premises in Hendon.

            The Company has today been advised that both Goldstart Limited and
            Frank Usher Limited have been placed in receivership and
            accordingly the Company is unlikely to receive repayment of the
            outstanding debt of £481,291.

            In the circular sent to shareholders on 13th October 2000 relating
            to the disposal of the operating companies, it was stated that
            following completion of the disposal the Company would comprise
            assets in cash of approximately £5,000,000. In view of the
            doubtful recoverability of debt due from Frank Usher Limited the
            cash assets of the Company will be diminished by this amount. The
            Company's current cash assets are approximately £4,500,000.

            The Board, in conjunction with its advisors, is continuing to
            explore a suitable acquisition for the Company in order to enhance
            shareholder value.