Acquisition

Sirdar PLC 15 August 2002 Sirdar PLC 15 August 2002 Sirdar PLC ('Sirdar') today announces that it has completed the acquisition of the entire issued share capital of William Pownall and Sons Limited ('Pownall'), a Lancashire-based manufacturer and distributor of high quality wool rich carpets, for £5.0 million in cash. The profit before taxation of Pownall for the year to 31 December 2001 was £0.7 million on a turnover of £9.9 million. Operating profit for the year to 31 December 2001, following adjustment for non-recurring items, was £1.1 million. The net assets of Pownall as at 31 December 2001 amounted to £1.7 million. The anticipated value of net assets of Pownall to be acquired at completion is £2.25 million with any variation from this level being subject to a pound for pound adjustment to consideration, based on final completion accounts. It is expected that the acquisition will be earnings enhancing in the year to 30 June 2003. The acquisition strengthens Sirdar's position in the high quality residential carpet sector in the UK. The acquisition provides further cross-selling opportunities from within the enlarged Group and provides the potential to increase the utilisation of the enlarged Group's carpet manufacturing and distribution facilities. Sirdar PLC Duncan Verity 01924 371501 Kevin Henry 01924 371501 END This information is provided by RNS The company news service from the London Stock Exchange