Disposal / Appointment

RNS Number:5738R
SSL International PLC
03 November 2003


3 November 2003

DISPOSAL OF MARIGOLD INDUSTRIAL GLOVES FOR UP TO #22 MILLION AND APPOINTMENT OF 
NON-EXECUTIVE DIRECTOR 

SSL International plc ("SSL") announces that it has completed the disposal of
its Marigold industrial gloves business for up to #22 million to Comasec SAS
("Comasec"), a French trade purchaser which is expanding its existing personal
protective equipment range. #15 million was paid in cash at completion with #5
million payable in the form of a loan note. In addition, up to #2 million may be
paid by way of earn out. Cash proceeds will be used to reduce group borrowings.

The net book value of the assets sold to Comasec is approximately #23 million,
which includes associated production facilities in Malaysia and Portugal. 1,122
SSL employees are transferring to Comasec. After taking account of the costs of
redundancy, other provisions and goodwill written off, the transaction has
generated a pre-tax loss of up to #15 million.

SSL is retaining its Marigold consumer gloves business and as part of the
transaction has entered into a contract manufacturing agreement under which
Comasec will manufacture Marigold household gloves on SSL's behalf.

Sales of Marigold industrial gloves in the year to 31st March 2003 of #33
million generated an operating profit of #4 million before interest and tax and
before allocating shared group costs such as UK distribution costs, R&D,
insurance and IT costs.

Commenting, Brian Buchan, Chief Executive, said:

"The sale of the Marigold Industrial Gloves division is another step in our
strategy of simplifying the group's range of businesses so that SSL becomes
focused on healthcare brands such as Durex and Scholl, the world's leading
condom and footcare brands."


APPOINTMENT OF NON-EXECUTIVE DIRECTOR

SSL International plc announces that it has appointed Richard Adam as a
Non-Executive Director and Chairman of the board's Audit Committee, with effect
from November 13th 2003.

Mr Adam, age 45, is currently Group Finance Director of Associated British Ports
Holdings PLC ("ABPH"). He is a Fellow of the Institute of Chartered Accountants
of England & Wales, having qualified with KPMG in 1982. He has held a number of
senior financial posts until he joined ABPH in 1999.

SSL Chairman, Ian Martin said:

"We are delighted to welcome an executive of Richard's distinction to SSL. His
extensive financial expertise across a number of business sectors makes him an
excellent choice as Chairman of the Audit Committee and further strengthens the
board."


INTERIM RESULTS 

The interim results for the six months to 30th September 2003 will be announced
on 20th November.

                                      END

For further information, please contact:

SSL International plc                                020 7367 5773
Garry Watts, Group Finance Director
Jan Young, Head of Investor Relations

The Maitland Consultancy                             020 7379 5151
William Clutterbuck
Brian Hudspith



Listing Rules Note re Mr. R Adam

Mr Adam has nothing to declare pursuant to listing rule 6.F2(b) to (g) of the
UKLA Listing Rules.




                      This information is provided by RNS
            The company news service from the London Stock Exchange

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