Re Agreement

Eleco PLC
12 March 2001

12 March 2001


                                  ELECO PLC

                                  ('Eleco')




                           Zeta-Tech ASSOCIATES Inc

                                ('Zeta-tech')




  ELECO SIGNS DISTRIBUTION AGREEMENT FOR ZETA-TECH RAILWAY TRACK MAINTENANCE
                                   SOFTWARE





The Board of Eleco, the building systems, software and products company, has
entered into an agreement with Zeta-Tech of Cherry Hill, New Jersey, USA for
the distribution of Zeta-Tech's highly successful and well proven software for
railway track maintenance and management.

The software, which will be distributed by Eleco's subsidiary, Abtus Keeway
Rail, has a number of applications. These include packages for forecasting
future rail replacement requirements and software tools for providing rail
condition reports. In addition, Zeta-Tech software programmes schedule and
optimise the frequency of rail testing, which reduce the risk of broken rails
and derailments.

John Ketteley, Executive Chairman of Eleco plc, said: 'We believe that
Zeta-Tech systems could make a significant contribution to improving rail
maintenance management and supervision in the UK. Zeta-Tech enjoys an enviable
reputation as a leading consultant and software developer for the railway
industry world-wide. Zeta-Tech software is currently in use in a number of
railway systems, including those in the United States, Canada, Sweden and
China. Our agreement with Zeta-Tech is consistent with our policy of
increasing our exposure to the provision of industrial software solutions'.

Dr Allan M Zarembski, founder and president of Zeta-Tech, added: 'Zeta-Tech is
used to providing product and consultancy services to the rail maintenance
industry on a world-wide basis and we are already collaborating with a number
of parties in the UK railway system, including Railtrack. We are pleased to
have the support of Eleco in the distribution of our products and services'.

Zeta-Tech software includes:

Maintenance Of Way Information System(R) ('mowis'), a detailed graphical
database for maintenance of permanent way records and information, so as to
effectively and economically maintain a railway system track;

RailLife(R), a software package for the analysis of the rail life, in track
and the forecasting of future rail replacement requirements, both short and
long term;

RailGraph(R), a field deployable rail maintenance management software tool for
rail maintenance, which ensures the display of all key wear and fatigue
condition information;

RailTest(R), scheduling software for the optimisation of rail testing
frequency to reduce the risk of rail service breaks and rail caused
derailments;

SmartGrind(R), a management software tool for rail profile grinding, which
schedules, plans, monitors and evaluates rail profile grinding activities.

Abtus Keeway Rail will also distribute Tie Inspect(R), an innovative system,
which collects and analyses data on the condition of sleepers.

Additional information on Zeta-Tech Associates, Inc., its products and
services, can be found on www.zetatech.com. Information on Eleco plc can be
found at: www.elecoplc.co.uk.



Further Enquiries to:

John Ketteley, Executive Chairman

Eleco plc   Tel: [phone]

Allan Zarembski, President

Zeta-Tech, New Jersey, USA   Tel: [phone]

David Millham/Tarquin Edwards

Millham Communications   Tel: [phone]