Disposal

    FOR IMMEDIATE RELEASE 11 JULY 2003

                              CHEMRING GROUP PLC                               

                       CHEMRING SELLS CHEMICALS BUSINESS                       

Chemring Group PLC ("Chemring") announces the sale of its Alloy Surfaces
chemicals business (the "Chemicals Business") to Akron Paint & Varnish, Inc.
("APV") for a cash consideration of up to US$3.7 million, subject to a working
capital adjustment based on net assets at completion. US$3.0 million of the
consideration has been paid in cash at completion, and deferred consideration
of up to US$700,000, based on sales of the Chemicals Business, will be paid on
15 November 2003. The net assets of the Chemicals Business at 31 October 2002
were US$2,620,000 and at completion the net assets were US$2,676,000.

The Chemicals Business, which is a division of Chemring's US-based subsidiary,
Alloy Surfaces Company, Inc. ("Alloy Surfaces"), manufactures and supplies
chemicals used to offer protection from coating formation on portions of
superalloy parts and assemblies during high temperature metal diffusion
processing.

In the year to 31 October 2002, the Chemicals Business made an audited pre-tax
profit of US$436,000 on sales of US$2,924,000. In the six months to 30 April
2003, the Chemicals Business made an unaudited pre-tax profit of US$91,000 on
sales of US$1,113,000.

The sale is part of Chemring's ongoing strategy to dispose of non-core
businesses, and the proceeds will be used to reduce net debt.

The remaining Alloy Surfaces operation, which manufactures special material
decoys, is a core business of the Group.

David Evans, Chemring Chief Executive, commented: "The disposal of the
Chemicals Business advances the Board's strategy of divesting of non-core
businesses to generate cash to reduce our net debt. The disposal will also
provide additional factory space at Alloy Surfaces' Pennsylvania facility.
Since the half year, Alloy Surfaces has received a further US$6 million of new
business in respect of its proprietary special material area decoys, and the
additional capacity generated by the disposal will assist the growth of the
rapidly expanding decoys business. The Chemicals Business is an excellent fit
for APV, which is already well-established in the aerospace industry."

For further information:


David Evans, Chief Executive Chemring Group PLC 01489 881880

Jonathan Rooper CardewChancery 0207 930 0777



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