Disposal

Alumasc Group PLC 19 March 2001 The Alumasc Group plc Disposal of R & AG Crossland Alumasc, the specialist engineering and building products Group, today announces the sale of the business and the net operating assets (other than buildings) of R & AG Crossland ('Crossland') to Lookspecial Ltd. Crossland manufactures metal pressings at Walsall, West Midlands, primarily for the automotive industry. The sale of Crossland enables Alumasc to focus on its principal precision components business, Alumasc Precision Limited, for which ambitious development plans were recently announced. The audited net asset value of the net operating assets being sold as at 30 June 2000 amounted to £1.1 million. Alumasc has received £0.95 million in cash as consideration and will pay £0.25 million in respect of the termination of an agency agreement. The audited operating profit of Crossland for the year ended 30 June 2000 amounted to approximately £0.07 million on turnover of £7.4 million. The net cash proceeds of the disposal will be added to the Group's existing resources and used for general corporate purposes, including the future development of Alumasc's other businesses. Enquiries: The Alumasc Group plc 01536 383844 John McCall (Chairman & Chief Executive) Bankside Consultants Limited 020 7220 7477 Charles Ponsonby
UK 100

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