Disposal

Avon Rubber PLC 08 February 2008 Strictly embargoed until 07:00 8 February 2008 AVON RUBBER p.l.c. ( 'the Group' or 'the Company') Sale of Aerosol Gasket business ('the business') The Board of Avon Rubber p.l.c. today announces that it has exchanged contracts for the sale of its Aerosol Gasket business to Crosslinks Limited, based in South Wales and Corsham, Wiltshire, for a consideration of £1.75 million payable in cash on completion of the sale. The business, currently located in Avon's Wiltshire facility, manufactures and supplies cupseals and stem gaskets for a global customer base. It currently employs approximately 68 staff and incurred an operating loss of £0.1 million (before an allocation of £1.1 million of shared service costs from our UK manufacturing facility) on a turnover of £4.7 million, in the financial year to 30 September 2007. The gross assets of the disposed business were £3.2 million and the net assets £2.1 million as at that date. Completion is expected to be in early March 2008 and the proceeds will be utilised to reduce current borrowings. Commenting on the sale, Terry Stead, Chief Executive of Avon Rubber p.l.c. said: 'The sale is a further step in the rationalisation of the Group. It allows the Company and its management to add focus and time on the Protection and Defence and Dairy businesses which are the cornerstones of the Group's future.' < ends > For further enquiries, please contact: Avon Rubber p.l.c Terry Stead, Chief Executive 01225 896 831 Peter Slabbert, Group Finance Director Fiona Stewart, Corporate Communications Executive 01225 896 871 Weber Shandwick Financial Richard Hews 020 7067 0700 Rachel Martin Hannah Marwood NOTES TO EDITORS: Avon Rubber p.l.c. is an international polymer engineering group adding value through material, manufacturing and industry sector expertise. The Group is currently capitalised at approximately £31 million. Avon supplies a range of advanced CBRN respiratory protection solutions through Avon Protection Systems Inc. to the world's military and police forces, as well as first responders and emergency services. Avon Rubber p.l.c. owns Avon-ISI, which designs, develops and manufactures a range of SCBA equipment for fire, rescue and law enforcement, as well as military applications. Avon Rubber p.l.c. also owns Avon Engineered Fabrications manufacturing products including hovercraft skirting and flexible storage tanks and a world leading dairy business manufacturing dairy liners and tubing. This information is provided by RNS The company news service from the London Stock Exchange
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