Bowers Metrology Wins Contract with Moog Inc.

Business Editors

BOCA RATON, Fla.--(BUSINESS WIRE)--June 23, 2003

Spear & Jackson (OTCBB:SJCK), announced today that its division Bowers Metrology has won a contract with Moog Inc. (NYSE:MOG.A) (NYSE:MOG.B) to supply gauges for critical measurements of Military and Commercial Aircraft.

Moog Inc., Aircraft Group has over 900 machinists in plants in the United States and the Philippines. Moog Inc., Aircraft manufactures components such as valve bodies, manifolds, bearings and glands are used in Military and Commercial Aircrafts by Boeing, Lockheed Martin, Airbus and other companies. Some of these components have tolerances of millionths of an inch. Bruce Fisher, Senior Quality Process Engineer at Moog Inc. says, "The elimination of `operation bias effects' in measurements has been a priority of Moog Inc. The company discovered that a good way to accomplish this goal was to upgrade its measuring devices. We have an on-going EMP (Evaluate the Measuring Process) program for all gauges used in our plants. We try to determine variation and display adequate discrimination.

"Moog Inc. relies on a statistical process control to make gauge selection even more important. We like instruments that can help us attain optimal repeatability accuracy and ease of operation. One such instrument is the pistol grip bore gauge from Bowers Metrology.

"The Bowers Holematic bore gauge cuts hole measurement time by a factor of two to four, and yields a big improvement in repeatability over the height gauges and indicators we formally used." Fisher says, "Special anvils help operators measure from a stark surface to locate a radius groove in cylinders and the device's RS232C output allows fast, error free downloading of inspection date into SPC software."

The Bowers Metrology Group, a division of Spear & Jackson, has four manufacturing sites in England: Bowers in Bordon, Hampshire, Bowers in Bradford, West Yorkshire, Moore & Wright in Sheffield, South Yorkshire and Coventry Gauge in Poole, Dorset. The main products that are manufactured include internal and external micrometers, bore and air gauges, hardness testers, thread gauges and engineers hand tools.

Spear & Jackson, based in Sheffield, England is one of the largest and oldest tool manufacturers in the UK. Spear & Jackson's roots go back to the 1740's as one of the premium tool manufacturers.

Spear & Jackson manufacturers and distributes tools, garden tools, metrology equipment, woodworking tools and magnetic equipment. They sell their products Under Spear & Jackson, Neill Tools, Bowers, Robert Sorby, Moore and Wright, Eclipse (Blades), WHS, Tyzack, and Eclipse Magnetics Brands. Spear & Jackson has divisions throughout England, France and Australia. Spear & Jackson distributes its products throughout the world.

Disclosure concerning Forward-Looking Statements:

Any forward-looking statements made in this release represent management's best judgment as to what may occur in the future. Various economic and competitive factors could cause actual results to differ materially from those discussed in such forward-looking statements, including some factors which will be outside of the control of the company, such as successful completion and consolidation of the acquisitions, such as consumer spending patterns, availability of consumer and commercial credit, interest rates, currency exchange rates, inflation rates, adverse weather, energy costs, freight costs, the level of residential and commercial constructions and the costs of raw materials, along with other specific factors with respect to the company's businesses set forth in the company's responses and other documents filed with the Securities and Exchange Commission. Interest parties should review the "forward-looking statement" sections in the Spear & Jackson reports file with Securities & Exchange Commission, including the annual report on form 10K for the fiscal year ended September 30, 2002.