Disposal

Walker Greenbank PLC 21 May 2004 WALKER GREENBANK PLC SELLS WARNER ARCHIVE FOR £2 MILLION Walker Greenbank PLC, the wallcoverings and furnishing fabrics group, is pleased to announce that it has completed the sale of the historic Warner Archive of fabric and designs to the Braintree District Museum & Study Centre Trust ('the Trust') for £2 Million, payable in cash on completion. The Walker Greenbank group, which includes the brands Zoffany, Harlequin, Sanderson, Standfast & Barracks Fabric Printing Company and Anstey Wallpaper Company, will continue to enjoy access to the Archive for creating new collections by way of a licence agreement. The asset had a nil book value and the sale will result in a profit on disposal of £1.5 million after both costs and £200,000 of goodwill previously written off to reserves. In the financial year ending 31st January 2004 the licensing business undertaken through the Archive resulted in a net profit of £50,000. The proceeds of the sale will be used to provide additional working capital and reduce indebtedness. The Trust, which received funding for the purchase from The Heritage Lottery Fund, will be converting the original Warner mill in Braintree to house the collection, which is expected to move by the end of the year. Ian Kirkham the Chairman of Walker Greenbank said 'I am delighted that the Warner Archive is to be returned to its original home where it can be appreciated by a wider audience under the care of the Trust. At the same time the group's brands can continue to benefit from access to this creative source.' For further information:- I Kirkham Chairman, Walker Greenbank PLC 01908 658089 J Sach Chief Executive Officer 01908 658009 I Seaton Bankside Consultants 0207 444 4157 R Evans Brewin Dolphin 0161 214 5553 This information is provided by RNS The company news service from the London Stock Exchange