PEX Ubsetf Pex

RNS No 6796u
PEX PLC
19th May 1998


Pex plc concludes Chinese production and European distribution deals

At the annual meeting of Pex plc, a leading British manufacturer of socks and
tights for children, sports socks, and socks for adults, chairman Andrea
Cattaneo Della Volta announced two significant new deals, as well as an improved
trading outlook.

The company has agreed to start production of socks in the The People's Republic
of China, in co-operation with a subsidiary of Pacific Dunlop Limited.  Pacific
Dunlop is a leading Australian multinational with a turnover of approximately
#2.5 billion.

Pex's agreement with Pacific Dunlop will give us the opportunity to increase
capacity by 2.4 million pairs and to improve profit margins.  Pex will have
responsibility over quality.

To assist with European distribution, Pex has bought the international trademark
Eurosock, along with computer equipment from Eurosock sri, for ITL 120,000,000
(#41,000).  The Eurosock brand is used by 51 major catalogue and department
store groups on the Continent.

For further information telephone Andrea Cattaneo Della Volta: 0116 282 3461

Issued by Blackstone Business Communications:  0171 251 2527

END


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