Worthington Group - Disposal

RNS Number:2912I
Worthington Group PLC
31 March 2000




Worthington Group plc today announce the sale of its Ibex Ropes and Whitely
Products divisions for a total consideration of #3.2 million to Marlow Ropes
Limited.  Ibex Ropes and Whitely Products principally supply elasticated shock
cords to the leisure, automotive and industrial sectors.  The sale does not
include the freehold property at Whitely Products in Daventry, Northants.

The consideration will be satisfied by an initial payment of #2.871 million in
cash, together with a further #100,000 held in escrow pending finalisation of
the Completion Accounts.  The balance is represented by the debtors and
creditors which are to be retained by Worthington Group plc.

The net assets of the business as at 31 March 1999 totalled #1.8 million and the
combined pre tax profit amounted to #662,000.

The proceeds of these sales will be applied to further reduce borrowings and to
date, including the proceeds from the Rights Issue, the Group has realised #12.7
million in cash during the financial year.

Finally, the Board are pleased to announce the appointment of Stephen Fletcher
as Group Finance Director with effect from 1 May 2000.  Stephen joins
Worthington Group plc after 15 years with Bodycote International plc, latterly
as Group Finance Controller.

For further information contact:

John Taylor
Group Chief Executive
Worthington Group plc
Telephone No: 01274 200700


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