Result of EGM

Severfield-Rowen PLC
05 October 2007

5 October 2007

           Severfield-Rowen Plc ('Severfield-Rowen' or the 'Company')

                    Result of Extraordinary General Meeting

 Expected timetable for completion of acquisition of Fisher Engineering Limited
               and acquisition of Dalton Airfield Estate Limited


                       Admission of Consideration Shares

                Awards made under the new Performance Share Plan

                Subdivision and Admission of New Ordinary Shares


On 22 August 2007, Severfield-Rowen Plc, the market leading structural steel
group, announced that it had agreed to acquire Action Merchants Limited ('AML'),
the holding company of Fisher Engineering Limited, a constructional steel
fabricator (the 'Fisher Acquisition'), and Dalton Airfield Estate Limited which
owns the long leasehold title to the Group's headquarters and the freehold title
to a little over half of Severfield-Reeve Structures Limited's fabrication
facility, both at Dalton Airfield Industrial Estate (the 'Property
Acquisition').

Both the Fisher Acquisition and the Property Acquisition were conditional on,
inter alia, shareholder approval.  Accordingly, an extraordinary general meeting
of the Company was convened for today to consider resolutions in respect of the
Fisher Acquisition and the Property Acquisition.  In addition, the extraordinary
general meeting considered the adoption of a new performance share plan
('Performance Share Plan') and a resolution in relation to the subdivision of
the Company's ordinary share capital on the basis of 4 new ordinary shares ('New
Ordinary Shares') for each existing ordinary share held ('Subdivision').

The Board of Severfield-Rowen is pleased to announce that at today's
Extraordinary General Meeting all resolutions put to shareholders were duly
approved.

In connection with the Fisher Acquisition, the Company has entered into an
agreement to acquire 90.2 per cent. of the 'A' shares, and all of the 'B' shares
and Preference Shares in AML ('Fisher Acquisition Agreement').  On completion of
the Fisher Acquisition Agreement, the Company will enter into call option
agreements ('Fisher Option Agreements') pursuant to which it will have the right
to acquire the balance of the 'A' Shares not acquired pursuant to the Fisher
Acquisition Agreement.  The Company intends to exercise the call options under
the Fisher Option Agreements following completion of the Fisher Acquisition
Agreement to thereby acquire 100 per cent. of the share capital of AML.

Part of the consideration under the Fisher Acquisition Agreement will be
satisfied by the issue of 1,750,000 existing ordinary shares in the capital of
the Company ('Consideration Shares') at approximately 2089 pence each to the
sellers of AML.  Application has been made to the UK Listing Authority for the
listing of, and to the London Stock Exchange for the admission of, the
Consideration Shares which is expected to take place on 8 October 2007
('Admission').  Following Admission, completion of the Fisher Acquisition
Agreement will occur.

With effect from completion of the Fisher Acquisition, Ian Cochrane will be
appointed to the Board of Severfield-Rowen.

The conditions under the Property Acquisition have been satisfied and completion
of the Property Acquisition is expected to occur on 9 October 2007.

The Company's remuneration committee has today approved and granted conditional
awards under the Company's new Performance Share Plan to the following executive
directors as follows:


Director           Position                              Number of     Total number of
                                                         Ordinary      Ordinary Shares over
                                                         Shares        which share incentive
                                                         under award   awards held following
                                                                       notification

Tom Haughey        Chief Executive Officer               27,736        36,626

Peter Emerson      Chief Operations Officer              22,189        30,635

Peter Ellison      Managing Director, Steelcraft         18,491        26,710
                   Erection Services

Peter Davison      Finance Director                      15,902        22,881

Brian Hick         Managing Director, Severfield-Reeve   12,943        19,318
                   Structures

Nigel Pickard      Managing Director, Atlas Ward         12,943        15,134
                   Structures



The awards will normally vest on the third anniversary of grant subject to
continued employment and the satisfaction of an earnings per share growth
performance condition. No consideration was paid for the grant of the awards and
no consideration is due on the vesting of the awards.


The notification of the above grants is made in accordance with DR 3.1.4R(1)(a).


Pursuant to the Subdivision, application has been made to the UK Listing
Authority for the listing of, and to the London Stock Exchange for the admission
of, the New Ordinary Shares on 9 October 2007.  At 4.30 p.m. on 8 October 2007,
trading in Severfield-Rowen's 22,151,969 (including the Consideration Shares)
existing ordinary shares (of 10p nominal value) will be cancelled. It is
expected that admission to trading of the 88,607,876 New Ordinary Shares (of
2.5p nominal value) arising following the Subdivision will become effective and
dealings, for normal settlement, will commence at 8.00 a.m. on 9 October 2007.



Expected timetable

8 October 2007                  Admission of the Consideration Shares

8 October 2007                  Completion of Fisher Acquisition Agreement

4:30 p.m. on 8 October 2007     Record date for Subdivision of share capital

8.00 a.m. on 9 October 2007     CREST accounts credited with New Ordinary Shares 
                                of 2.5p each and commencement of dealings in New
                                Ordinary Shares


9 October 2007                  Completion of the Fisher Option Agreements

9 October 2007                  Completion of the Property Acquisition


by 16 October 2007              Share certificates in respect of New Ordinary 
                                Shares to be despatched to shareholders





Enquiries:

Severfield-Rowen Plc              Peter Levine               0207 493 7888
                                  Tom Haughey                01845 577 896
                                  Keith Elliott              01845 577 896

Hoare Govett Limited              Ranald McGregor-Smith      020 7678 8000
                                  John MacGowan
                                  Stephen Bowler

Financial Dynamics                Richard Mountain           020 7269 7291
                                  Susanne Yule


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            The company news service from the London Stock Exchange