RNS No 0081t
IPECO HOLDINGS PLC
17th September 1997
                               
                 IPECO HOLDINGS PLC ("IPECO")
                               
           RECOMMENDED PROPOSAL FOR CASTLEDON LTD TO
  BUY OUT THE MINORITY SHAREHOLDINGS IN IPECO FOR 90 PENCE PER
    SHARE BY WAY OF A SCHEME OF ARRANGEMENT ("THE SCHEME")
                               
  RESULT OF THE COURT HEARING OF THE PETITION TO SANCTION THE
                            SCHEME


The Board of Ipeco announces that, at a hearing of the High
Court this morning, the Scheme was sanctioned and it is
expected to become effective on 18 September 1997 ("the
Effective Date") following certain documentation being
delivered to and registered by the Registrar of Companies.  The
Ordinary Shares of Ipeco will cease to be traded on The London
Stock Exchange and The Independent Directors of Ipeco will
resign from the Board on the Effective Date.

The consideration payable under the Scheme (90p per Scheme
Share) and the Special Dividend (2p per Ordinary Share) will be
paid to Shareholders within fourteen days after the Effective
Date.


Enquiries:

Chris Johnson
Chairman
Ipeco Holdings plc and Castledon Ltd              Tel: 01702
544939

Alan Hornsby
Chairman, Independent Directors' Committee        Tel: 01923
236 651
Ipeco Holdings plc

Henry Stanford
Close Brothers Corporate Finance Limited               Tel:
0171 426 4000

END
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