Acquisition of Yarn Covering Business

Sirdar PLC 30 March 2000 Acquisition of business Sirdar PLC ('Sirdar') announces that it has today acquired the yarn covering business and certain assets of Clutsom & Kemp from Sherwood Group PLC. The consideration for the acquisition is £250,000 in cash, payable from existing resources, of which £150,000 is payable on completion and £100,000 on agreement of the completion accounts. This acquisition emphasises Sirdar's continuing focus on higher margin products within the hand knitting and machine yarns division. In the year ended 31st December 1999, the business generated turnover of £2.9 million and profits of £0.25 million, although profitability has reduced in recent months. As at 31 December 1999, net assets being acquired amounted to approximately £0.5 million. Further enquiries: Sirdar PLC Kevin Henry 01924 371501