THE ROXBORO GROUP PLC

PROPOSED DISPOSAL OF MOBREY

The Roxboro Group PLC, the international specialist electronics group, announces the proposed disposal of Mobrey, its process measurement and control equipment business, to Emerson

Highlights:

Disposal of Mobrey to Emerson for £26.0 million payable in cash by Emerson at Completion

Profit after expenses and taxation on the Disposal of approximately £2.4 million on a pro forma basis

Mobrey is active in the design and manufacture of process measurement and control equipment and offers a single-source supply for an extensive range of level, flow, pressure density, viscosity, suspended solid and data acquisition measurement devices

The Board has concluded that Mobrey's technology and market positions would benefit from being part of a larger global group focused on the process instrumentation sector. Consequently, the Board initiated a process which has culminated in the recommended Disposal

The Disposal does not include the trade and assets of the Analytical Product Line which are being retained by Roxboro within the Continuing Solartron Group

The Disposal is conditional, inter alia, on the approval of Roxboro's Ordinary Shareholders which will be sought at an EGM to be held in July 2005

Following Completion, the Board will continue to review the Continuing Group's capital requirements with a view to proposing a return of cash to Ordinary Shareholders within a reasonable period. The Board will make further announcements with its proposals when appropriate

Commenting on the Disposal, Harry Tee, Roxboro's Chief Executive, said:

"I am very pleased to be announcing this disposal today as it forms part of the Group strategy of becoming more focused and of generating shareholder value. Mobrey is a high quality business producing "best-of-breed" products but its further development would be best served as part of a larger global group. Roxboro will now comprise the retained Solartron high-margin businesses, focused on niche measurement sectors, together with Dialight, our growing electronic lighting division.

Dialight has exciting potential and performed well in 2004 with operating profits increasing five-fold. Solid state lighting has many clear advantages over traditional lighting and as such the number of applications and demand for advanced solid state lighting products is expected to continue to show good growth."

Roxboro are advised by Close Brothers Corporate Finance

ENQUIRIES

Close Brothers 

+44 (0)20 7655 3100

Andrew Cunningham

Shane Lawlor

Close Brothers Corporate Finance Limited, which is regulated in the United Kingdom by The Financial Services Authority, is acting exclusively for The Roxboro Group PLC and for no one else in relation to the Disposal and will not be responsible to anyone other than The Roxboro Group PLC for providing the protections afforded to clients of Close Brothers Corporate Finance Limited or for providing advice in relation to the Disposal or on any matter referred to herein.