IVS Inveresk

RNS Number:9863E
Inveresk PLC
12 December 2002


                                   Inveresk PLC


Inveresk PLC ("Inveresk" or "the Company") announces that it has concluded the
sale of land and buildings at the site of its former mill at Westfield in
Scotland to Pomeroy Limited for cash consideration of #825,000. The proceeds of
the sale have been used to reduce debt owing to the Royal Bank of Scotland plc.
Inveresk has retained ownership of mill machinery with view to its future use or
sale. The net asset value of the land and buildings as at 31 May 2002 was
#300,585.

The Company also announces that the Board is being strengthened by the
appointment of Mr Gordon M Thomson as Finance Director. He will be commencing
his duties on 16 December 2002. Mr Thomson joins from his position as Group
Finance Director of Castle View International Holdings Limited. He is 55 years
old, is a member of the Institute of Chartered Accountants of Scotland and has
extensive commercial and manufacturing experience. He has also worked previously
in business turnarounds and will be assisting the Chief Executive in
re-financing the Company.

Plans to re-capitalise and re-finance the Company are proceeding and a further
announcement will be made in relation to this at the earliest opportunity.



Enquiries

Alan Walker (Chief Executive)    020 7240 1234
Jan Bernander (Chairman)         00 65 9661 7974



                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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