Acquisition

Walker Greenbank PLC
01 September 2003




                    WALKER GREENBANK BUYS SANDERSON FOR £5.5M


1 September, 2003


Walker Greenbank PLC, the wallcoverings and fabrics manufacturer and
distributor, is pleased to announce the purchase of the trade and certain assets
of Sanderson & Sons Holdings Ltd for £5.5 million from the Receiver.   The
assets include freehold property, fixed assets, stock, design archive, overseas
subsidiaries, trade marks and intellectual property.   The trade debtors
together with all liabilities to creditors are excluded from the purchase.


The acquisition of the business provides the opportunity to link the products
produced under the 5 key brand labels (Sanderson, Morris & Co., Studio
Sanderson, Design Essentials and V & A Museum) with our existing renowned brands
of Harlequin and Zoffany.  It also ensures that the Sanderson ranges will enjoy
a close and strong relationship with the Walker Greenbank manufacturing
facilities at Anstey Wallpaper in Loughborough and the Standfast-Barracks fabric
printing operation in Lancaster,    thereby delivering substantial synergistic
benefits to the enlarged Group.


Sanderson's retail presence also provides Zoffany and Harlequin with greater
exposure, marketing and promotional opportunities not currently available.


The business, currently with turnover of circa £22 million, will continue to be
operated from the Sanderson Headquarters in Denham near Uxbridge.  This is also
the home of the  inspirational design archive of over 25,000 items including
fabric samples, pattern books and original artwork assembled over the past 140
years.


Arthur Sanderson & Sons Ltd was originally formed in 1860 and has held a Royal
Warrant to supply fabric to the Royal Household since 1923.  Historically a
manufacturing dominated company Sanderson has become renowned throughout the
world for its Sanderson and Morris brands, design and quality of co-ordinated
fabrics, wallcoverings, and associated products.


Ian Kirkham, Chairman, says:


'The Sanderson and Morris & Co brands are recognised around the world.  The
strength of the brands together with their retail presence will combine with our
downstream distribution and manufacturing facilities to bring considerable
synergies and benefits to the Group.


This earnings enhancing acquisition endorses our strategy of benefiting from
consolidation opportunities and will be a major step forward in returning the
Group to profitability.'



Enquiries:


David Medcalf, Group Chief Executive or John Sach, Group
Finance Director
                                                            Tel:  [phone]


Walker Greenbank PLC

Ian Seaton, Bankside Consultants                            Tel:  [phone]




Notes to editors



Walker Greenbank PLC designs, manufactures, markets and distributes
wallcoverings, furnishing fabrics and associated products. The Zoffany and
Harlequin brands are recognised worldwide, selling a full range of these items.
The Group's manufacturing base includes fabric printing at Standfast and
wallcoverings manufacture at Anstey.  For the year to 31st January 2003 the
Group recorded turnover of £58m.






                      This information is provided by RNS
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