Restructuring to Enhance Competition & Development

ALUMASC GROUP PLC 21 October 1999 Annual General Meeting and Update Alumasc, the high specification engineering and building products group, held its Annual General Meeting earlier today in London. Commenting on current developments and trading, John McCall, Chairman and Chief Executive, said: 'In the Annual Report, I reported on the considerable progress the Board has made in implementing its strategy to restructure the Group into a smaller number of strong businesses with their focus on premium engineering and building products. Since that report, we have made further progress with the disposal of Arnold Plastics for approximately £0.85 million in September and we are now close to finalising agreements for the sale of Thermex Industries and Crew Stainless; the financial impact of all these disposals is expected to be within the provisions included in the accounts for the year ended 30 June 1999. This restructuring enhances our ability to compete and to develop in our chosen markets where trading conditions remain much as they were at the time of publication of our Annual Report last month. We continue to believe that we have established a sound and profitable base upon which to build a successful future.' At the Annual General Meeting, all the Resolutions, including the authority for Alumasc to acquire up to 10 per cent of its issued share capital, were put to shareholders and duly passed. Enquiries: The Alumasc Group plc 01536-383844 John McCall (Chairman and Chief Executive) Bankside Consultants Limited 0171-220 7477 Charles Ponsonby