Preliminary Results

MS International PLC
26 June 2001

Contacts:           Michael Bell, Chairman, MS International plc
                    Tel:  [phone]

                    Terry Garrett, Square Mile BSMG Worldwide
                    Tel:   [phone]


                  MS INTERNATIONAL plc
          Full Year Results to April 28th, 2001
                            
                            
*  Pre-tax profits from continuing businesses increased
   by 32% to £2.17m (2000: £1.65m)

*  Turnover from continuing businesses increased by 15%
   to £32.87m (2000: £28.63m)

*  Net cash increased to £2.79m (2000: £2.47m)

*  Order book for continuing businesses improved to
   £26.19m (2000: £24.32m)

*  Final dividend of 1.00p per share (2000: 0.90p) for
   an 11% increase for the full year at 1.33p (2000: 1.20p)

*  EPS  for continuing businesses 29% higher  at  6.7p
   (2000:  5.2p)


Michael Bell, Chairman, commented:

'The  good underlying progress achieved in the first  six
months continued strongly in the second half of the year.
Each  division  performed well,  generating  profits  and
cash,  and clearly demonstrating the benefits of  sharper
focus  on  business sectors where we enjoy prime  trading
niches.

The   order   book  has  increased  and,   with   further
concentration on our known strengths, and the closure  of
a  loss-making subsidiary behind us, we look  forward  to
further achievements in the coming year'.

Chairman's Statement

Introduction

In  my  interim  statement I commented on the  underlying
progress  of  MS International plc and the closure  of  a
loss-making subsidiary. I am pleased to reaffirm that the
progress has followed through strongly in the second half
of  the  year.  Furthermore,  I  perceive  that  we  have
enhanced the opportunities for the Group to attain a more
rapid upgrade in both the amount and quality of earnings,
despite the short-term implication of the closure on this
year's  consolidated profit and loss account. To  amplify
the  scale  of the achievements, we have constructed  the
profit  and  loss account in a format that  compares  the
results   of   both   the  continuing  and   discontinued
businesses of the Group.

Accordingly, for the year ending April 2001, the  Group's
continuing businesses produced a 32% increase  in  profit
before  tax of £2.17m (2000 - £1.65m) on sales 15% higher
at £32.87m (2000 - £28.63m), and a 29% increase in EPS of
6.7p (2000 - 5.2p). The ensuing combined trading loss and
one-off  costs  associated with  the  winding-up  of  the
discontinued businesses amounted to £3.10m.

The  Group's consolidated net cash position has  remained
robust  throughout and advanced by 13% to £2.79m (2000  -
£2.47m), despite a cash outflow of £1.8m relating to  the
discontinued businesses.

The  accomplishment  of  the  continuing  businesses  has
proven  highly  satisfying. Each division generated  both
profit  and  cash and the results illustrate clearly  the
benefits of a sharper focus in business sectors where  we
enjoy prime trading niches.

On  April  27th, 2001, I, together with my two  executive
board directors, exercised options to purchase a total of
2,283,350  ordinary shares in the Company at  an  average
price  of  21.6p each. It is our intention to hold  these
shares as a long-term investment.

Operating divisions

The  defence  division achieved a creditable performance,
increasing profit margins on sales that were at  a  level
similar  to  the  previous year. The changing  nature  of
defence procurement, continues to heighten the challenges
facing  our  industry. I believe that  we are  responding
positively and effectively to the task, whilst  balancing
carefully the needs of our business, as evidenced by  the
increase  in  profits. The division's order book  remains
sound and well balanced, reflecting a good level of order
intake  for  our proprietary products and services,  plus
augmented  participation  in  major  defence  procurement
programmes   through  teaming  arrangements  with   other
contractors.

The  forgings division enjoyed a year that  was  full  of
very  positive activity. Further investment in plant  and
equipment  for  both  fork-arm  manufacture  and  general
forging   production,   broadened   and   enhanced    our
capabilities, the benefits of which permeated through  in
greater  efficiencies,  added  market  penetration,   and
notable  gains in profitability. Demand for our  products
in  our  principal  markets  around  the  world  remained
buoyant, although towards the end of the period there was
a  softening in activity in North America, indicative  of
the  general economic climate in that large and important
market.

Global-MSI  plc, our joint venture company that  holds  a
leading  market  position in the design, manufacture  and
construction   of  petrol  station  canopies   for   fuel
retailers across Europe, confirmed our expectations of  a
good  recovery as the market improved, from the  previous
year's   low  level.  Added  to  that,  our  status   was
strengthened  by  the  successful  integration  into  our
business  of Conder, a former sizeable though loss-making
competitor, acquired last year.

The manufacturing and administrative buildings vacated by
the  discontinued  business  have  been  refurbished  and
upgraded  to  a high standard, to provide cost  effective
production  and  office space. These facilities  are  now
gainfully   occupied   by   the  continuing   businesses,
relieving  past  constraints and also creating  room  for
expansion.

Outlook

The   Group   order  book  for  each  of  the  continuing
businesses  is  higher than at this time last  year,  and
when consolidated amounts to £26.19m (2000 - £24.32m).

With  intensifying concentration on our known  strengths,
and  the closure of the loss-making subsidiary behind us,
we  look  forward to further achievements, in the  coming
year.  The Board therefore recommends the payment  of  an
increased  final  dividend of 1.00p  per  share  (2000  -
0.90p),  making  a total for the year of  1.33p  (2000  -
1.20p), payable to shareholders on September 10th, 2001.




Michael Bell
June 26th, 2001



Group Profit and Loss Account
For the 52 weeks ended April 28th, 2001
                                                                            
                                            2001           2001       2001
                                      Continuing   Discontinued      Total
                                            £000           £000       £000
                                                                            
Turnover: Group and share                          
of joint venture                          32,866          2,994     35,860
Less: Share of joint                               
venture turnover                          (5,648)             -     (5,648)   
___________________________             _________      ________    ________
                                                                            
Group turnover                            27,218          2,994      30,212
___________________________             _________      ________    ________   
                                                                        
                                                                            
Operating profit/(loss)                    1,948         (2,293)       (345)
Share of operating profit                             
of joint venture                             197              -         197
___________________________             _________      _________   _________  
                                                                         
                                                                            
                                           2,145         (2,293)       (148)
Exceptional items                                                           
Profit/(loss) on sale of                                                    
tangible fixed assets:
Group                                          9            (18)         (9)
Joint venture                                  1              -           1
(Loss) on sale/closure of                                                   
businesses:
Net assets less sale                                    
proceeds/closure costs                         -           (305)       (305)
Goodwill previously                                       
written off to reserves                        -           (488)       (488)
__________________________               _________     __________   __________
                                                                           
Profit/(loss) on ordinary                            
activities before interest                 2,155         (3,104)       (949)
                                                                            
Interest receivable:                                                        
Group                                        144              -         144
Joint venture                                  1              -           1
                                                                            
Interest payable:                                                           
Group                                       (130)             -        (130)
__________________________               _________     __________   __________
                                                                           
                                                                            
Profit/(loss) on ordinary                           
activities before taxation                 2,170         (3,104)       (934)
                                                                            
Tax on profit/(loss) on                              
ordinary activities                        (773)            850          77
__________________________               _________     __________   _________ 
                                                                          
                                                                            
Profit on ordinary                                   
activities after taxation                 1,397          (2,254)       (857)
                                                                            
Dividends                                                              (292)
__________________________                                           _________
                                                                           
                                                                            
Retained (loss)/profit for                                                   
the Group and its share 
of joint venture                                                     (1,149)  
__________________________                                          _________ 
                                       

                                                                            
                                                                            
Earnings/(loss) per share                             
- basic and fully diluted                   6.7p          (10.8p)      (4.1p)
__________________________                _______        _________    ________
                                                                           

Group Profit and Loss Account (Cont)
For the 52 weeks ended April 28th, 2001
                                                                            
                                           2000            2000        2000
                                     Continuing    Discontinued       Total
                                           £000            £000        £000
                                                                            
Turnover: Group and share
of joint venture                         28,630           3,605      32,235

Less: Share of joint 
venture turnover                         (3,797)              -      (3,797)  
___________________________           __________       _________    _________ 
                                                                             
Group turnover                           24,833           3,605      28,438
___________________________           __________       _________    _________ 
                                                                          
                                                                            
Operating profit/(loss)                   1,648            (436)      1,212
Share of operating profit 
of joint venture                             10               -          10
___________________________           __________       __________   _________
                                                                            
                                                                            
                                          1,658            (436)      1,222
Exceptional items                                                           
Profit/(loss) on sale of tangible                                           
fixed assets:
Group                                         5               -           5
Joint venture                                 3               -           3
(Loss) on sale/closure of businesses:                                       
Net assets less sale proceeds/closure                 
costs                                         -               -           -
Goodwill previously written off to                   
reserves                                      -               -           -
______________________________         _________        __________   _________
                                                                           
                                                                            
Profit/(loss) on ordinary activities               
before interest                           1,666            (436)      1,230
                                                                            
Interest receivable:                                                        
Group                                       126               -         126
Joint venture                                 9               -           9
                                                                            
Interest payable:                                                           
Group                                      (151)              -        (151)
_______________________________        _________        __________   _________
                                                                           
                                                                            
Profit/(loss) on ordinary activities               
before taxation                           1,650             (436)     1,214
                                                                            
Tax on profit/(loss) on ordinary                   
activities                                 (499)             128       (371)
_______________________________        _________        __________   ________ 
                                                                          
                                                                            
Profit on ordinary activities after                
taxation                                  1,151             (308)       843
                                       _________         __________           
                             
                                                                            
Dividends                                                              (249)
_______________________________                                       ________
                                                                           
                                                                            
Retained (loss)/profit for the Group                                        
and its share of joint venture                                           594
_______________________________                                       ________
                                                                          
Earnings/(loss) per share - basic and               
fully diluted                               5.2p            (1.4p)      3.8p
_______________________________         _________         _________   ________
                                                                           
                                                                            
                                                                            
Group Statement of Recognised Gains and Losses
                                                                             
                                            2001                         2000
                                            £000                         £000
                                                                            
(Loss)/profit for the financial             
period                                      (857)                         843
Translation differences on                  
foreign currency net
investments                                  (67)                           4
_______________________________            _______                      ______
                                                                           
                                                                            
Total (losses)/gains recognised             (924)                         847
since last annual report
_______________________________            _______                      ______
                                                                           
                                                                            
Historical cost profits and losses

There is no material difference between the result as disclosed in the
profit and loss account and the result which would have been reported had
the Group prepared the accounts on an unmodified historical cost basis.

Notes

The financial information set out above does not constitute the
Company's statutory accounts for the periods ended  April
28th,  2001 or April 29th, 2000 but is derived from those
accounts.    Statutory  accounts  for  2000   have   been
delivered  to the Registrar of Companies, and  those  for
2001  will  be  delivered following the Company's  Annual
General  Meeting.   The auditors have reported  on  those
accounts:  their  reports were unqualified  and  did  not
contain  a statement under section 237(2) or (3)  of  the
Companies Act 1985.

Copies of this announcement are available from the Company's
registered  office at MS International  plc.  Balby  Carr
Bank,  Doncaster,  South Yorkshire, DN4  8DH.   The  full
Annual Report and Accounts will be posted to shareholders
shortly  and  will  be  delivered  to  the  Registrar  of
Companies  after it has been laid before the  Company  in
general meeting.

Dividend warrants will be posted on September 7th, 2001 to members
registered  on the books of the Company at  August  10th,
2001.



Group Balance Sheet
At April 28th, 2001                                            
                                                       2001           2000
                                                       £000           £000
Assets employed                                                           
_______________________________________              _______        _______   
                                                                      
Fixed assets                                                              
                                                                          
Tangible assets                                       6,222          6,358
Joint venture:                                                            
Share of gross assets                                 1,621          1,587
Share of gross liabilities                           (1,284)        (1,184)
Investment in own shares                                266            598
_______________________________________              _______        _______   
                                                                      
                                                      6,825          7,359
_______________________________________              _______        _______   
                                                                      
Current assets                                                            
Stocks                                                2,666          3,870
Debtors                                               7,041          5,717
Group pension scheme                                                      
prepayment
- due after more than one year                        6,938          6,990
Cash at bank and in hand                              2,789          3,165    
_______________________________________             ________        _______   
                        
                                                     19,434         19,742
Creditors - amounts falling                                               
due within one year                                   9,944         10,229
_______________________________________             ________        ________  
                                                                       
Net current assets                                    9,490          9,513
_______________________________________             ________        ________  
                                                                       
Total assets less current                                                 
liabilities                                          16,315         16,872
                                                                          
Creditors - amounts falling                                               
due after more than one year                            217             78
                                                                          
Provisions for liabilities and                                            
charges                                               2,644          2,612
_______________________________________            _________        ________  
                                                                       
Total assets less liabilities                        13,454         14,182
_______________________________________            _________        ________  
                                                                       
Capital and reserves                                                      
Called up share capital                               2,343          2,343
Capital redemption reserve                              398            398
Revaluation reserve                                   1,853          2,368
Other reserves                                        4,652          4,719
Special reserve                                       1,487          1,487
Profit and loss account                               2,721          2,867
_______________________________________            _________       ________   
                                                                      
Equity shareholders' funds                           13,454         14,182
_______________________________________            _________       _________  
                                                                       


Group Cash Flow Statement                                                 
For the 52 weeks ended April 28th, 2001

                                      2001      2001        2000       2000
                                      £000      £000        £000       £000
                                                                       
Operating (loss)/profit               (345)                1,212        
Closure costs                         (305)                    -        
Depreciation charge                    625                   533        
Foreign exchange (gains)/losses        (33)                    4        
RSA grant release                      (37)                  (38)        
Decrease in stocks                   1,320                 2,212        
(Increase)/decrease in debtors      (1,187)                  674           
Increase/(decrease) in creditors       550                (1,081)        
(Decrease) in progress payments        (25)                 (274)        
Increase in provisions                 117                   119        
Provisions utilised                    (65)                 (151)        
_________________________________   _______               ________            
                                                          
                                                                       
Cash flow from operating activities              615                  3,210

Dividend received from joint                    
venture                                           50                     51
                                                                          
Interest (paid)/received                          (8)                    26
                                                                          
Taxation paid                                   (236)                  (417)
                                                                          
Purchase of tangible fixed assets     (556)                 (469)           
Sale of tangible fixed assets           58                    11           
Shares purchased by ESOT              (160)                    -           
Loan repaid/(paid) by/to joint                  
venture                                 75                   (75)   
_______________________________     _______               ________            
                                                             
                                                                          
Capital expenditure and financial              
investment                                      (583)                  (533)
                                                                          
Dividends paid                                  (254)                  (268)
______________________________                 _______               ________ 
                                                                        
                                                                          
Cash (outflow) / inflow before                 
financing                                       (416)                 2,069
_____________________________                  _______               ________ 
                                                                        
                                                                          
Cash (outflow) / inflow before                 
financing                                       (416)                 2,069
                                                                          
Financing                                                                 
Purchase of own shares                   -                 (1,032)  
Long term bank loans repaid              -                   (111)           
Repayments of capital element of                                          
finance leases and                    
hire purchase contracts                (83)                  (75)
New leases                             322                    94           
Share options exercised                492                     -           
                                     ________              _______            
                                                 731                (1,124)
______________________________________________________________________________
                                                                       
Increase in cash                                 315                   945
______________________________________________________________________________
                                                                         
                                                                          
 Reconciliation of net cash flow to movement in net funds
                                                                          
                                                           2001       2000
                                                           £000       £000
                                                                          
Increase in cash                                            315        945
Cash flow from decrease in bank loans                         -        111
Repayments of capital element of                           
finance leases and hire purchase
contracts                                                    83         75 
__________________________________________                ________    ______  
                                                                    
                                                                          
Changes in net funds resulting                                
from cash flow                                              398      1,131  
                                                                          
New leases                                                 (322)      (94)
__________________________________________               _________   _______  
                                                                    
                                                                          
Movement in net funds                                        76      1,037
                                                                          
Net funds at April 29th, 2000                             2,365      1,328
_________________________________________               __________  ________  
                                                                    
                                                                          
Net funds at April 28th, 2001                             2,441      2,365
________________________________________                 __________  _______  
                                                                    

Analysis of net funds                      2001       Cash flows       2000
                                           £000             £000       £000
                                                                          
Cash at bank and in hand                  2,789             (376)     3,165
Bank overdraft                                -              691       (691)
                                         _______          _______     _______ 
                               
                                          2,789              315      2,474
Finance leases                                                            
and hire purchase  contracts               (348)            (239)      (109)
                                         _______           _______    ________

                                          2,441               76      2,365
                                         _______           _______    ________
                                    
                                                                          
                                                                          
Movement on reserves and reconciliation of movements in shareholders'funds
                                                                          
Movements in reserves are as follows:
                                                                          
                                              Capital                   
                                   Share   redemption   Revaluation      Other
                                 capital      reserve       reserve   reserves
                                    £000         £000          £000       £000
                                                                           
At April 29th, 2000                2,343          398         2,368      4,719

(Loss)attributable to members          -            -             -          -
Dividends                              -            -             -          -
Transfer                               -            -          (515)         -
Foreign exchange                            
adjustments in retranslation of
overseas investments                   -            -             -       (67)
     
Goodwill adjustments                   -            -             -         -
________________________________   _______     _______       _______   _______
                                                                          
At April 28th, 2001                 2,343         398          1,853     4,652
________________________________   _______     _______       _______   _______
                                                                          
                                                                          
Movement on reserves and reconciliation of movements in shareholders'funds
(Cont)                                                                        
 
Movements in reserves are as follows:
                                                                          
                                                            Profit         
                                                Special   and loss
                                               reserves    account     Total
                                                   £000       £000      £000
                                                                          
At April 29th, 2000                               1,487      2,867    14,182

(Loss) attributable to members                        -       (857)    (857)
Dividends                                             -       (292)    (292)
Transfer                                              -        515        -
Foreign exchange adjustments in
retranslation of overseas investments                 -          -      (67)
Goodwill adjustments                                  -        488      488
_____________________________________           ________    ________  _______
                                                                          
At April 28th, 2001                               1,487      2,721    13,454
_____________________________________           ________    ________  _______