Acquisition from Dover Corp.

SENIOR PLC 2 August 1999 Senior Acquires World Leading US Flexonics Business SENIOR PLC is pleased to announce that it has acquired the entire issued share capital of Pathway Bellows, Inc. ('Pathway') from Dover Corporation ('Dover'), for a total cash consideration of approximately £22.3 million (US$35 million) on a debt free basis. Pathway, based in Tennessee, is the world's largest manufacturer of expansion joints. In the year ended 31 December 1998, Pathway's unaudited sales and profits before taxation and exceptional items were approximately £26.6 million (US$41.8 million) and £2.2 million (US$3.5 million) respectively. The consideration is being financed from the Group's existing facilities. A further payment of not more than £0.9 million (US$1.4 million) will be made on 1 November 1999 to Dover, in return for which Senior is expected to receive future tax benefits, the projected net present value of which substantially exceeds the additional payment. The anticipated value of net assets at closing is approximately £4.5 million (US$7.0 million). Pathway is the recognised world leader in expansion joint technology. Flexible metallic expansion joints of up to 10 metres diameter are used in petrochemical and power generation plants in high temperature and pressure applications. Over the next 12 months, Pathway and Senior's existing US expansion joint operation in Texas will be merged. One-off capital and revenue costs totalling approximately £4.8 million (US$7.6 million) are anticipated to generate annual savings of at least £1.9 million (US$3.0 million). Senior has additional expansion joint manufacturing operations in the UK, Denmark and Brazil and further sales operations in Asia, where Pathway is particularly well-represented. Commenting on the acquisition, Andrew Parrish, Senior's Group Chief Executive said; 'The acquisition of the world's largest expansion joint manufacturer presents an exciting opportunity for Senior to become the clear market leader in this $300 million global market, the size of which is expected to grow significantly over the next three years, particularly in the petrochemical sector. Pathway is a substantial addition to Flexonics' Specialised Industrial Division, representing a further significant step towards reinforcing and building upon Senior's established position as world leader in the manufacture and marketing of thin walled flexible metallic tubing and bellows. The acquisition marks the first stage of Senior's programme rapidly to reinvest, in our core Flexonics business, the proceeds of the recent disposal of the bulk of our Engineered Products & Services activity.' SENIOR PLC simultaneously announces that on 2 July 1999 it acquired the entire issued share capital of Hydro-Flex Inc. ('Hydro-Flex'), Canada, for a cash consideration of approximately £2.0 million (C$4.7 million), together with the assumption of debt of approximately £0.2 million (C$0.5 million). The company manufactures and distributes flexible metal hose, PTFE (Teflon) hose, and manifold assemblies for the specialised industrial market, in particular for steel plant and cryogenic applications. In the year ended 28 February 1999, the unaudited sales of Hydro-Flex were approximately £1.9 million (C$4.5 million). The consideration, which was financed from the Group's existing borrowing facilities, is dependent on the net asset value at closing, which at the time of closing was anticipated to be approximately £0.9 million (C$2.0 million), excluding debt assumed. Hydro-Flex, founded in 1965, is located in Ontario and has 18 employees. The acquisition, which will be fully integrated with Senior's existing Canadian operation (also in Toronto), will extend Senior's customer base and distribution channels and will reinforce Senior Flexonics' leadership in this small but valuable market. For further information, please contact: SENIOR PLC 01923 775547 Andrew Parrish, Group Chief Executive Glenn Timms, Director - Corporate Development Terry Garthwaite, Group Finance Director Senior Flexonics Inc 001 630 3723000 William Kowal, Chief Operating Officer, Senior Flexonics Finsbury 0171 2513801 James Murgatroyd Morgan Bone Internet users will be able to view this announcement, together with other information about SENIOR PLC, on the web site www.seniorplc.com Notes to Editors SENIOR PLC is an international engineering group with a market capitalisation of approximately £400 million. It is the clear global leader in the design, manufacture and marketing of thin-walled flexible tubing and related high technology products, servicing the Aerospace (including Space), Automotive and Specialised Industrial markets.

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