Disposal of Tate Access Floors

Alumasc Group PLC 27 June 2000 THE ALUMASC GROUP plc DISPOSAL OF TATE ACCESS FLOORS Alumasc, the specialist engineering and building products group, today announces the sale of the business and certain operating assets of Tate Access Floors ('TAF') to Tate Global Inc., from whom TAF licences its range of premium raised access floors. TAF forms part of Alumasc Interior Building Products and manufactures Tate floor panels at Walsall, West Midlands for sale to the UK and Continental European construction markets. The unaudited net asset value, as derived from the audited accounts of Alumasc Interior Building Products, as at 30 June 1999 of the operating assets of TAF being sold amounted to £1.8 million. Alumasc has received £2.055 million in cash in respect of those assets, equivalent to their net book value at completion. Alumasc has retained the trade debtors and creditors of TAF and these have a net book value of approximately £1.3 million. The unaudited operating loss, as derived from the audited accounts of Alumasc Interior Building Products, of TAF for the year ended 30 June 1999 amounted to approximately £0.05 million on turnover of £6.7 million. The Board of Alumasc has decided to focus the future development of its Building Products Division on its other brands, including Pendock Profiles, Alumasc Rainwater, Harmer, Euroroof and MR and so to sell the business of TAF to its US licensor. The cash proceeds of the disposal will be added to the Group's existing resources and used for general corporate purposes, including the future development of Alumasc's other businesses. Enquiries: The Alumasc Group plc 01536-383844 John McCall (Chairman & Chief Executive) Bankside Consultants Limited 020-7220 7477 Charles Ponsonby