Acquisition

Eleco PLC
7 February 2003



 
                        ELECO ACQUIRES LEONARDO INTERNET

Eleco plc ('Eleco'), the listed building systems and software applications 
group, announces the acquisition of Leonardo Internet Limited ('Leonardo 
Internet') for £200,000 in cash.

Leonardo Internet is a provider of integrated web and print design solutions 
for the construction industry.

John Ketteley, Executive Chairman of Eleco commented:

'Leonardo Internet's activities and skill base are complementary to those of our 
creative technology subsidiary, Forma Communications. I am delighted that 
Leonardo Internet is joining Eleco and I look forward to its excellent 
product offering being made available to Eleco's client base.'

Net assets of Leonardo Internet at 30 June 2002, the date of its last audited 
accounts, were £162,000. Unaudited management accounts for the six months ended 
31 December 2002 showed profits before taxation of £13,000 on sales of
£170,000.


Enquiries to:
 
John Ketteley, Executive Chairman                  Tel:     [phone]
Eleco plc

David Dannhauser, Finance Director                 Tel:     [phone]
Eleco plc

Tarquin Edwards                                    Tel:     [phone]
Holborn

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