Acquisition

Acal PLC 24 April 2002 FOR IMMEDIATE RELEASE 24 APRIL 2002 ACAL plc (A leading pan-European, value added distributor providing specialist design-in, sales and marketing services for international suppliers) Acquisition of ATM Parts Company Limited Acal plc announces the acquisition of the whole of the issued share capital of ATM Parts Company Limited ("ATM"). ATM's principal activity is the distribution of spare parts for automated teller machines or cash dispensers and it is based in Church Crookham in Hampshire. During its financial year ended 31 August 2001, ATM had sales of £9.1million and profit before taxation of £1.3million. At that date its net tangible assets amounted to £3.2million. The initial consideration of £8.0million is payable in cash on completion, which takes place today. Two further amounts may be payable depending on ATM's performance during each of the years ending 31 August 2002 and 2003. These two further amounts are to be satisfied by the issue of loan notes by Acal plc and are not to exceed £2.5million and £1.5million respectively. Commenting on the acquisition, John Curry, Chairman of Acal plc, said:- "ATM has established an outstanding reputation and record in a growing market and is complementary to Acal's IT Parts Services business. We look forward to working with Michael Thornton and Ian Morris who will continue to manage the business following the acquisition." For further information:- John Curry Chairman 01483 544500 Jim Virdee Finance Director 01483 544500 Brian Coleman-Smith / Amanda Sheehy 020 7786 9600 Binns & Co. Public Relations Notes to Editors:- 1 The Acal Group is a leading European, value-added distributor providing specialist design-in, sales and marketing services for international suppliers in the fields of Electronic Components, Information Technology Products, IT Parts Services and Industrial Controls. Its value-added philosophy and geographic coverage enables Acal to provide specialist knowledge and support to customers on a pan-European basis. 2 Design-in is the process by which Acal's sales engineers work with customers and suppliers to procure components which meet the specific technical and performance needs of the customers. 3 Acal has operating companies in the UK, Netherlands, Belgium, Germany, France, Italy, Scandinavia and the USA. This information is provided by RNS The company news service from the London Stock Exchange
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