Norwegian Disposal

Walker Greenbank PLC
22 June 2005


For immediate release                                               22 June 2005





                              WALKER GREENBANK PLC

                     ('Walker Greenbank' or 'the Company')



               Sells Norwegian subsidiary for NOK 22.24 million

               Company to return to operating profit at half year



Walker Greenbank plc (AIM: WGB), the wallpaper, textiles and furnishings
business whose brands include Sanderson, Harlequin and Zoffany, is pleased to
announce that it has exchanged contracts for the sale of its Norwegian
subsidiary, Borge Holdings AS, to the Swedish company Eco-Borastapeter AB. The
consideration of NOK 22.24 million (£1.85m) will be paid in cash on completion
on 28 June 2005.



Borge Holdings AS is the parent company of John O Borge AS, a distributor of
wallcoverings and fabrics in Norway, and its sale is in line with the Company's
stated strategy of disposing of non-core assets. The consideration received from
the disposal, which marks another important step in the Company's turnaround,
will provide additional working capital and be used to reduce Company debt.



In the financial year ended 31 January 2005, Borge Holdings AS achieved a profit
after tax of £288,000. The disposal will result in a surplus to net assets of
£529,000 before writing off goodwill of £1.9 million previously written off to
reserves.



John Sach, Walker Greenbank's Chief Executive, said: 'This disposal is in line
with the Company's strategy of focussing on the core brands of Sanderson,
Harlequin and Zoffany. These brands are not distributed by the Norwegian
business, making the business non-core.'



With the half-year trading period end just six weeks away, Walker Greenbank's
Board confirms that, following the profitable trading in the first quarter, the
Company continues to perform in line with internal forecasts.



The first-half results will show a significant improvement on the same period
last year, returning the Company to an operating profit compared with an
operating loss of £1.466 million. The Board is pleased to report that the
recovery process of returning to profitability has gathered momentum during the
past months.





                                      ENDS





For further information:


Walker Greenbank plc                                               01908 658078

Ian Kirkham, Chairman
John Sach, Chief Executive

Buchanan Communications                                            020 7466 5000

Mark Court/Suzanne Brocks/Elly Williamson











                      This information is provided by RNS
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