Settlement of contract issues

Genus PLC 19 September 2002 Immediate Release 19 September 2002 Genus plc Settlement of contract issues Genus plc ('Genus') purchased Hunting Technical Services ('HTS') from Hunting Plc in July 1998. HTS specialises in project management and consultancy services in international development. At the time of the acquisition, HTS had an outstanding claim against the European Commission for indemnification for the premature termination of work being carried out by HTS in Nigeria. As part of the agreement to purchase HTS it was agreed that Genus would continue to pursue the claim and that in the event a favourable settlement was reached, a substantial proportion of the receipt would be paid over to Hunting Plc. Genus is pleased to announce that the claim has now been settled. As a result of the settlement and after the payment to Hunting Plc and netting off the receipt against advance contract payments already received by HTS at the time of the contract termination, Genus has received an additional £0.1 million in cash and will record income in the current financial year of approximately £0.4 million. The Board of Genus would like to record its appreciation of the work carried out by the European Ombudsman and others on behalf of HTS in assisting with the settlement of this claim. Contacts: Genus plc Tel: 01270 536 501 Richard Wood, Chief Executive Philip Acton, Finance Director Buchanan Communications Ltd Tel: 020 7466 5000 Charles Ryland / Catherine Miles This information is provided by RNS The company news service from the London Stock Exchange