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Ennstone PLC (ENN)

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Friday 22 October, 2004

Ennstone PLC

Offer Update

Ennstone PLC
22 October 2004


               NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR
              INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR
                                        
                            THE REPUBLIC OF IRELAND
                                        
                   ENNSTONE PLC ("ENNSTONE" OR THE "COMPANY")
                                        
                     OFFER FOR JOHNSTON GROUP PLC ("OFFER")
                                        
         UPDATE IN RESPECT OF PROPOSED DISPOSAL OF ENGINEERING BUSINESS

Further to the recent announcements made by the Company, the Board would like to
provide the following update ahead of the Extraordinary General Meetings to be
held on 29 October 2004.

With regard to the sale of the Johnston engineering division, to date 20
parties, including UK, European and US companies and financial buyers have
expressed an interest in acquiring part or all of the business.

The Board has now received a number of indicative offers at an average range of
£25 to £30 million. Clearly such proposals are subject to, among other things,
due diligence in respect of non-publicly available information. To date the
Company has not been provided with access to more detailed information by
Johnston but intends to expedite the disposal process following the Offer being
declared wholly unconditional. The level of interest to date has given the Board
a high degree of confidence that the disposal process is likely to be highly
competitive which should enable the Board to maximise the price attainable for
the engineering business on an accelerated timetable.

The Board appreciates the uncertainty in which Johnston has operated in recent
months and looks forward to a successful conclusion to the Offer and the early
disposal of the engineering business.

The Ennstone Directors, accept responsibility for the information contained in
this announcement. To the best of the knowledge and belief of the Ennstone
Directors (who have taken all reasonable care to ensure that such is the case),
such information is in accordance with the facts and does not omit anything
likely to affect the import of such information. This announcement, which is the
sole responsibility of Ennstone, has been approved by Altium Capital solely for
the purpose of Section 21 of the Financial Services and Markets Act 2000.

Altium Capital, which is authorised and regulated in the United Kingdom by the
Financial Services Authority, is acting exclusively for Ennstone as financial
adviser (within the meaning of the Rules of the Financial Services Authority)
and no-one else in connection with the Offer and is not advising any other
person or treating any other person as its client in relation thereto and will
not be responsible to anyone other than Ennstone for providing the protections
afforded to clients of Altium Capital or for providing advice in relation to the
Offer, the contents of this announcement or any other matters referred to
herein.

Enquiries:

Ennstone plc
Vaughan McLeod                                                    01332 694444

Altium Capital Limited
Phil Adams/Paul Lines                                            0161 831 9133

College Hill
Mark Garraway/Matthew Gregorowski                                020 7457 2020




                      This information is provided by RNS
            The company news service from the London Stock Exchange

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