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Armour Group PLC (AMR)

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Tuesday 11 March, 2003

Armour Group PLC


Armour Group PLC
11 March 2003

                                ARMOUR GROUP PLC


Armour Group plc through its subsidiary, Autoleads Limited, (the 'Group'), has
today acquired 100 per cent of the share capital of CTI, one of the leading
European designers and manufacturers of specialist GSM and GPS aerials and
antennae for the automotive and marine aftermarkets.

The consideration, payable in cash, totals approximately £2.1 million of which
£1.75 million will be paid upon completion.  The balance will be payable 12
months from completion and is subject to certain sales and net asset performance
criteria being met. The net assets acquired at completion of £0.5 million
generated an attributable profit before tax of £0.35 million in the year to 28
February 2002 on sales of £1.6 million.

CTI, located in Fareham, employs approximately 30 people and supply's a customer
base predominantly in mainland Europe. The CTI product range of GSM / GPS
aerials and antennae complements the mobile communication products currently
sold under the Group's Autoleads brand and will enable the Group to offer a full
range of products for hands-free mobile phone communications. This market is set
to grow significantly in the coming year as a result of the expected change in
legislation in the United Kingdom regarding the use of mobile phones in

CTI will form part of, and be integrated into, the Group's Audio Electronics
Division and the acquisition is expected to be earnings enhancing in the current
financial year.

George Dexter, Chief Executive of Armour commented:

'This is a good opportunity for Armour.  CTI complements the Group's existing
activities and strengthens our product offering in the growth market of
hands-free mobile communications.  We can see the synergies that will add value
to the Group and believe that CTI will fit smoothly into our existing operating

Further Details:
George Dexter         Armour Group PLC                 Tel:       01892 502700
Trevor Bass           Fleet Financial                  Tel:       020 7950 2854

                      This information is provided by RNS
            The company news service from the London Stock Exchange