Result of EGM

Avingtrans PLC
11 October 2004


Result of EGM

11 October 2004


On 15 September 2004, the board of Avingtrans Plc ('the Company') announced the
acquisition of Stainless Metalcraft (Chatteris) Limited ('Metalcraft'), a firm
placing to raise £4 million and an open offer to be made on the basis of one
open offer share for every 10 existing shares ('the Proposals').  The Proposals
were conditional on the approval of the Company's shareholders.

The Company is pleased to announce that the resolutions to approve the Proposals
were duly approved by shareholders at an EGM of the Company which has been held
today.  The placing and the open offer raised an aggregate of £4.3m (before
expenses) for the Company.  The net proceeds of the placing will be used to
satisfy part of the consideration for the acquisition of Metalcraft.  The
proceeds of the open offer will be applied towards the ongoing working capital
requirements of the Company.

The placing and open offer remain conditional upon the admission of the new
ordinary shares to AIM.  Application has been made for these shares to be
admitted to trading on 12 October 2004.  The acquisition of Metalcraft is
scheduled to complete on 13 October 2004.  Under the AIM Rules this transaction
is classified as a reverse takeover and as such the entire issued share capital
of the enlarged company will be readmitted to trading on 14 October 2004.

Of the 704,981 new ordinary shares available for take-up under the open offer,
valid applications had been received by the close of the open offer at 3.00pm on
8 October 2004 for 545,615 Ordinary Shares. This represents approximately 77.4
per cent. of the new ordinary shares offered under the open offer.  Application
has been made for 7,212,282 new ordinary shares of 5 pence each, being 6,666,667
ordinary shares issued pursuant to the firm placing and 545,615 ordinary shares
pursuant to the open offer, to be admitted to AIM on 12 October 2004. The new
ordinary shares will rank pari passu in all respects with the existing ordinary
shares of the company.

Of the directors of Avingtrans Plc, Jeremy Hamer took up his full allocation of
shares in the Company under the open offer, subscribing for a further 5,500
shares.  His holding in the ordinary share capital of the Company is therefore
60,500 shares, representing 0.4% of the issued share capital of the Company.

The holdings of the other directors of Avingtrans Plc, who did not take up their
entitlements is as follows:

                      No of shares             Percentage of the issued ordinary
                                                  share capital of the Company

Kenneth Baker            630,455                              4.4%
Steven Lawrence          202,818                              1.4%
Stephen King              40,000                              0.3%
Stephen Bruh              105,292                              0.7%



Contacts

Avingtrans Plc                                          Telephone: [phone]

Kenneth Baker
Steven Lawrence


Bridgewell Limited                                      Telephone: [phone]

Greg Aldridge
Nick Lovering


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