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BESPAK, PLC ANNOUNCES PROPOSED ACQUISITION OF THE TENAX GROUP

 BESPAK, PLC ANNOUNCES PROPOSED ACQUISITION OF THE TENAX GROUP
 CARY, N.C., Feb. 21 /PRNewswire/ -- Bespak plc, with subsidiary operations in Cary, North Carolina, today announced its proposed acquisition of the Tenax Group at a cost of approximately $58 million (32.8 million pounds sterling). The acquisition is conditional upon shareholders' approval at an Extraordinary General Meeting scheduled for Monday, March 9, 1992.
 Commenting on today's announcement, Bob King, Chairman of parent company Bespak plc, said: "The proposed acquisition of the Tenax Group provides an outstanding opportunity for the successful development of the Bespak Group and is consistent with our strategy of developing the business by concentrating on clearly understood markets, introducing new products, broadening the customer base and extending the geographic scope of the Group's business."
 Both British-based Bespak and the Tenax Group use very similar technologies in the design and manufacture of plastic medical, surgical and pharmaceutical products. The Tenax Group's focus on the medical market complements Bespak's similar focus in the pharmaceutical market. Headquartered in Danbury, Conn., Tenax recently opened Tenax-South, a facility in Youngsville, N.C. Included on the list of Tenax Group customers is: U.S. Surgical, C.R. Bard, Boehringer-Ingelheim, Concord Labs, Glaxo, Healthscan and Survival Technology.
 The terms of the acquisition agreement provide for a cash consideration of approximately $58 million (32.8 million pounds). This will be financed in part by a Rights Issue of up to 6.8 million new ordinary shares at 410 pence per share on the basis of 3 new Ordinary shares for every eight Ordinary shares held on Feb. 27, 1992. This will raise approximately 25.5 million pounds, net of expenses. The balance will be met from a $16 million (9 million pounds) loan repayable over 10 years, partially guaranteed by the Company and secured on certain assets of the Tenax Group and Bespak Holdings Inc.
 Bespak believes the acquisition of Tenax will have three principal advantages:
 -- Enable the Bespak Group to exploit the U.S. market more
 effectively while providing more opportunities to expand product
 range in Europe.
 -- Enable local product development activities to be substantially
 enhanced, thus improving the enlarged Group's service to its
 U.S. customers, and;
 -- Potentially heighten cost benefits as a result of the
 coordination of activities in North Carolina.
 -0- 2/21/92
 /CONTACT: Teresa Franzen of Styles-Huber-Ferraro, 919-467-5445 or (fax) 919-481-9714, for Bespak plc/ CO: Bespak plc; Tenax Group ST: North Carolina, Connecticut IN: MTC SU: TNM


JZ-CM -- CH006 -- 1501 02/21/92 16:08 EST
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Date:Feb 21, 1992
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