SEH Sep Inds.

RNS Number:0122B
SEP Industrial Holdings PLC
23 March 2001

For Immediate Release:  23rd March 2001


                          SEP Industrial Holding plc

                           ("SEP") or (the Company)


             Announcement of the sale of Clyde Fasteners Limited


SEP Industrial Holdings plc ("SEP" or "the Company") announces that on 22
March 2001, it exchanged and completed the sale of the entire issued share
capital of Clyde Fasteners Limited ("Clyde") to Exchangelaw (No.265) Limited,
a company wholly-owned by the existing Clyde management team.


Clyde is a manufacturer of hot forged fastener products and cold forged socket
screws and is based in East Kilbride, near Glasgow, Scotland.


In the year ended 30 September 2000, Clyde made a loss before taxation of #
1,009,000 and had net liabilities at that date of #2,520,000. Prior to
completion of the sale, SEP waived inter-company debt due to it of #300,000
and paid #2,587,000 of Clyde's overdraft.  Under the terms of the sale and
purchase agreement, the Purchaser has agreed to procure the repayment of
outstanding inter-company debt between Clyde and SEP amounting to #221,000
which is to be repaid in three tranches, on 1 May, 1 June and 1 July 2001.
The consideration for the shares in Clyde is #1 in cash.



The amounts received from the sale will be used to reduce SEP's bank
borrowings.



With the sale of Clyde, SEP has now reached agreement for the disposal of all
its industrial components and engineering activities.  Following completion of
the recently announced conditional sale of Component Industries Limited, for
which shareholder approval is being sought at an EGM on 30 March 2001, SEP
will be able to focus on its IT investments and completing the reverse
takeover of Integration Limited as set out in its announcement dated 29
November 2000.





For further information contact:-

Tony Caplin
Chairman
SEP Industrial Holdings plc                            0207  505 2330

Ruari McGirr
Brown Shipley & Co. Limited                             020 7282 3218

Adam Reynolds/Takki Sulaiman
Hansard Communications                     020 7735 9415/07778 419218
takki@hansardcommunications.com
www.hansardcommunications.com

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