Statement re Possible Offer for Company

SIG PLC
20 December 1999


                                                                     
                              SIG plc ('SIG')
                                   
    
The  Board announces that it has received an approach which may or  may  not
lead to an offer being made for the Company.

A further announcement relating to this approach will be made in due course.


Enquiries                                                                   
                                                                            
SIG plc                                                                     
Bill Forrester                                                 0114 285 6300
Frank Prust                                                                 
                                                                            
HSBC Investment Bank plc                                                    
Rupert Faure Walker                                            0171 336 9000
Richard Taylor                                                              
                                                                            
Cazenove & Co.                                                              
Arthur Drysdale                                                0171 588 2828
                                                                            
Finsbury                                                                    
Rupert Younger                                                 0171 251 3801
Faeth Finnemore                                                             
                                                                            
                                                                            


HSBC  Investment Bank plc, which is regulated by the Securities  and  Futures
Authority Limited, is acting exclusively for SIG and no-one else and will not
be responsible to anyone other than SIG for providing protections afforded to
customers of HSBC Investment Bank plc.