WLN Wellington Hds.

RNS Number:0886Z
Wellington Holdings PLC
26 May 2004






For Immediate Release                                               26 May, 2004


                            Wellington Holdings plc


              Sale agreed for sale of freehold site for #6.5m cash



Wellington Holdings plc, the manufacturer and distributor of specialist polymer
seals for engineering and industrial applications worldwide, today announces
that it has signed a binding agreement, subject to planning permission, to sell
the Company's freehold site at Hampton, Middlesex for #6.5m in cash. The site
comprises the Hallite Seals UK manufacturing facility and the Company's Head
Office, and has a current book value of #4.5m.


Rather than incurring the risks of a move to a new location nearby with a
sub-optimised factory, Wellington will use certain of the proceeds, subject to
planning permission, to relocate to a new, specially built, highly efficient
factory, built to their specification on half the present site, which will be
progressively available during 2005. Annual rental of #590k will commence 2007.
The balance of the net proceeds will be applied to reduce borrowings and to
invest in the business.

Wellington plan for substantial savings from the new energy-efficient premises
and optimised shopfloor process flow.


Notes to Editor:

Wellington Holdings is a highly focused global manufacturer and distributor of
specialist seals used in new equipment and the aftermarket. Main markets include
mining equipment, construction machinery, aerospace, materials and fluid
handling, and especially strong in oil and gas. Wellington trades under four
brands, Hallite Seals, Dynamic Seals, CDI Seals and Hallite Polytek.



For further information:

Brian Kent, Chairman                                020 8941 3774

Chris Wilkins, Chief Executive Officer              020 8941 3774

Mick Paver, Finance Director                        020 8941 3774

Wellington Holdings plc


David Hardy/Paul Vann                               020 7786 9600

Binns & Co. PR Limited


Or visit the Wellington website:
www.wellingtonholdings.com


















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

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