Spirent plc: Sale of Aviation Information Solutions Businesses


LONDON, UK, June 30, 2003 (PRIMEZONE) -- Spirent plc (LSE:SPT) (NYSE:SPM), a leading international network technology company, announces that it has sold its Aviation Information Solutions businesses (AIS) from within its Systems group to Teledyne Technologies Incorporated for a cash consideration of $6.85 million (approximately GBP4.1 million). The sale does not include Spirent's aviation maintenance, repair and overhaul software business.

AIS, with locations in the US, Canada and the UK, is a leading supplier of integrated hardware and software solutions for the aviation industry. AIS has approximately 100 employees and will become part of the Teledyne Controls division.

AIS had sales of GBP10.8 million in the year to December 31, 2002. The estimated book value of the businesses being sold is GBP3.0 million with associated reinstated goodwill of GBP2.3 million.

Nicholas Brookes, Chief Executive of Spirent, said:

"AIS has a strong position in its markets and will benefit from ownership by a company that can obtain strategic and synergistic benefits. This sale represents a further step in our strategy of focusing on network technology activities."

About Spirent

Spirent plc is an international network technology company providing state-of-the-art systems and solutions for a broad range of customers worldwide. Our Communications group is a worldwide provider of integrated performance analysis and service assurance systems for next-generation network technologies. Spirent's solutions enable customers to develop and deploy network equipment and services more economically and efficiently by emulating real-world conditions and assuring end-to-end performance of large-scale networks. Our Network Products group provides innovative solutions for fastening, identifying, insulating, organising, routing and connectivity that add value to electrical and communication networks in a wide range of applications. Our Systems group offers integrated product solutions for the power controls and aerospace markets. Further information about Spirent plc can be found at www.spirent.com.

Spirent plc is listed on the London Stock Exchange (ticker: SPT) and on the New York Stock Exchange (ticker: SPM; CUSIP number: 84856M209) with one American Depositary Receipt representing four Ordinary shares.

Spirent and the Spirent logo are trademarks of Spirent plc. All rights reserved.

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



            

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