Acquisition

Solid State Supplies PLC
28 May 2002



Solid State Supplies Plc announces Acquisition of Steatite Limited





Solid State Supplies Plc announces the acquisition of Steatite Limited whose
principal activity is that of distributor of electronic components and materials
and manufacturer of electronic equipment.  The acquisition offers an expanded
market opportunity in the European electronics industry serving the industrial,
oil and gas sector, communications and military markets with an extensive range
of semiconductors, passive components, battery management systems, industrial
and embedded PC systems, RFI filters and EMC solutions.



The consideration of £1.35m in cash has been met from Solid State's existing
cash resources and a medium term loan of £0.75m.



Revenues of the enlarged Solid State Group on an annualised basis are in excess
of £10m and the specialist semiconductor component distribution business of
Solid State is enhanced significantly by the application engineering, design,
manufacturing and systems/project management skills of the Steatite activities
developed over 60 years.



Steatite Group Limited reported a loss of £476,000 before tax after
non-recurring items, group management charges and other overheads which are not
part of the continuing business on a turnover of £6.0m for the year ended 31
December 2001.





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