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Foster(John) & Son (FTJ)


Wednesday 07 November, 2001

Foster(John) & Son

Stmnt re Foster Textiles

Foster(John) & Son PLC
7 November 2001

John Foster & Son plc: Update

On the 9 July 2001 the directors of John Foster & Son plc ('the Company')
announced that it was in discussions with a third party that could change the
direction of the Company.

The deterioration in market conditions since then has prevented the directors
from bringing the proposed transaction to a successful conclusion.

Following the above, and under the terms of the cross-guarantee arrangements
of the group's banking facilities, the group's principal bankers have
appointed administrative receivers to John Foster (Textiles) Limited, the
principal trading subsidiary within the group.

Receivers have not been appointed to John Foster & Son plc, or any subsidiary
other than John Foster (Textiles) Limited.

The directors of John Foster & Son plc are in negotiation with several third
parties regarding potential corporate transactions and a further announcement
will be made when necessary to ensure that shareholders are kept informed as
to the current position of the Company.

Enquiries: Steven Oxley     John Foster & Son plc        Tel 01274 885800


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