Chemring Sells Non-Core Business

CHEMRING GROUP PLC 26 October 1999 CHEMRING SELLS NON-CORE BUSINESS Chemring Group PLC announces the sale of the business of Chemring Plating Systems for a cash consideration of £240,000 which reflects the book value of the assets sold. The acquiror is Kraftelektronik AB of Sweden. In the Interim Report for the half year to 1 May 1999, Chemring Plating Systems was treated as a business under review and made a loss of £776,000. Action was taken to reduce the losses in the second half. The proceeds will be used to reduce the Group's net debt. Enquiries: Paul Rayner Finance Director Chemring 01489 881880 Peter Gaze Director Cardew & Co. 0171 930 0777
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