Associated British Engineering PLC
8 February 2000
Following a review of recent trading in its Catering Equipment Distribution
subsidiary and news of the loss of a major contract the Board of Associated
British Engineering plc ('ABE') has resolved to commit no further financial
support to that company.
The Board has appointed Mr Chris Laughton and Mr Maurice Moses of Levy Gee as
Administrative Receivers of ABE Catering Equipment Limited.
The ABE Group after paying off all of its indebtedness to its bankers has cash
on deposit of approximately £1million. Current trading tends to confirm the
Board's confidence in the prospects of British Polar Engines.