Re Joint Venture

RNS Number:0404J
Range Cooker Company PLC
28 August 2001


FOR RELEASE                                7:00 AM              28 AUGUST 2001


                         THE RANGE COOKER COMPANY PLC

                ("The Range Cooker Company" or "the Company")

     (One of the largest suppliers of quality domestic cookers in the UK)


                     JOINT VENTURE WITH WATERFORD STANLEY


The Range Cooker Company plc announces that it has entered into a strategic
joint venture with Waterford Stanley Ltd ("Waterford Stanley"), which
initially will cover reciprocal sales, marketing and distribution agreements
in Britain and The Republic of Ireland.

Under the terms of the joint venture, Waterford Stanley has been appointed
sole distributor for The Range Cooker Company products in the Republic of
Ireland.  Waterford Stanley will launch "Waterford" branded high quality steel
range cookers, not previously marketed in the Republic of Ireland.  Waterford
Stanley is already the market leader for cast iron range cookers in Ireland.


In turn, The Range Cooker Company has been appointed sole and exclusive
distributor for Stanley cast iron range cookers in Britain.  For the past 20
years, Stanley Cookers have been sold and marketed throughout Britain by
Stanley Cookers UK Ltd. The customer services management for Stanley Cookers
will continue to be operated from the existing Waterford Stanley base at
Wrexham.  Similarly, the customer services support for The Range Cooker
Company products in Ireland will be managed directly by The Range Cooker
Company.

John Armstrong, Chairman of The Range Cooker Company, said:

"I am delighted with the new strategic joint venture and looked forward to
increasing the customer base and growing sales of both companies in Great
Britain and the Republic of Ireland.  The inclusion of cast iron range cookers
in the portfolio of products offered by The Range Cooker Company to its UK
dealers will greatly strengthen our position in the overall market.  The
complementary nature of cast iron range cookers to the existing products of
The Range Cooker Company, enables us to service new market segments."

John Armstrong continued:

"Range style cookers have been one of the main growth areas in both the Irish
and UK cooker markets in the last five years.  The trend for sales of these
products continues to be driven by higher levels of personal disposable
income, growing levels of customer expenditure in households and substantial
growth in the number of housing transactions.  We expect this trend to
continue through the initial decade of the new millennium."



Michael Laffan, Joint Managing Director of Waterford Stanley, said:

"This joint venture with The Range Cooker Company is an ideal fit for
Waterford Stanley given that it enables us to add high quality steel range
cookers to our existing cast iron products in Ireland and it significantly
enhances our sales and distribution network in Britain.  Since we acquired
Waterford Stanley 11 months ago, management has concentrated on improving
efficiency, growing sales, reducing costs and leveraging the strengths of our
existing brands.  Together with the workforce, we have made considerable
progress.  A key part of the business development plan is to broaden the
product base in both range cookers and stoves.  The introduction of
complementary steel based and gas fuelled products will enable us to broaden
our customer base and market penetration."



For further information:

John Armstrong, Chairman

The Range Cooker Company plc

Tel: [phone]


Michael Laffan / Gerry Currid

Joint Managing Directors

Waterford Stanley

Tel: [phone]


Brian Coleman-Smith / Jacqui Graves

Binns & Co Public Relations

Tel: [phone]


Background note:

The Range Cooker Company, which is listed on the Alternative Investment Market
("AIM") of the London Stock Exchange, is one of the largest specialist
suppliers of high quality range style domestic cookers in Great Britain.  With
over 650 stockists in Great Britain, Range Cooker markets its products under
the highly successful Britannia brand.  Annual sales for the company are #13.5m
with a profit before tax of #3.57m.