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Synstar PLC 23 June 2004 23 June 2004 Synstar signs full Managed IT Services contract with Avecia Synstar plc ('Synstar' or 'the Group') is pleased to announce that it has signed a full Managed IT Services contract with Avecia, a leading global fine and specialty chemicals company. This will increase the value of Synstar's relationship with Avecia to circa £19 million in the next 3 years. Synstar is already a trusted supplier to Avecia and has, for a number of years, provided IT maintenance and helpdesk support services. Under the terms of this additional contract, which begins on 1 July 2004, Synstar will be providing IT infrastructure and applications support to Avecia's key locations. As part of the agreement, 54 Avecia staff and some full-time contractors will transfer to Synstar. The agreement provides for a possible extension of a further three years after the initial three-year contract period. Steve Vaughan, Chief Executive of Synstar commented today: 'This contract demonstrates that we are continuing to fulfil the strategy outlined 6 months ago which sees Synstar pursuing larger, more complex Managed Services contracts. Our agreement with Avecia delivers a broad range of IT managed services to a company that is itself focused on delivering innovative technology and service excellence to customers. The contract will help us deliver on our plans for profit improvement driven by revenue growth.' Derrick Nicholson, CFO of Avecia added: 'In outsourcing the majority of our IT requirements to Synstar, we are building on an established relationship with a company we see as a trusted supplier in the field of IT management. The deal also provides continuity for Avecia with the transfer of staff and full time contractors skilled in a broad range of IT services.' Steve Vaughan / Stephen Gleadle Synstar Plc Tel: 01344 662700 Edward Bridges / James Melville-Ross Financial Dynamics Tel: 020 7831 3113 Avecia - A World Leader in Fine and Specialty Chemicals Avecia is a leading global fine and specialty chemicals company focused on delivering innovative technology and service excellence to customers across a range of high technology industries. With unique capabilities in organic chemistry, biological & polymer sciences and process technology, each of our business sectors offers bespoke products and services to our global customers, supported by highly focused technical expertise. Avecia is divided into three divisions - Biotechnology, Chemicals, NeoResins - with a rich history and long track record of innovation and service excellence. Avecia operates at the leading edge of technology investing ca 10% of annual turnover in research, development and process technology. The knowledge and skills of our international workforce of 2500+ employees have pioneered many important products which are in everyday use. This information is provided by RNS The company news service from the London Stock Exchange