NEWS

TELCON - the manufacturer of electronic and speciality magnetic components - is pleased to announce the following changes in the structure of the company.

A management buyout of ADVENT the major shareholder of TELCON has been successfully concluded and as a result TELCON is now owned 100% by it's directors and employees. The restructure has improved the balance sheet by both the write-off and conversion of debt to equity, and gives TELCON the flexibility to move forward in the market place it has served for over 150 years.

In order to maximise the potential of this opportunity, we have substantially strengthened the Board of Directors and the management infrastructure.

Colin Bates the ex-CEO has returned to the Board as Chairman. Robin Parsons also returns to the Board as Finance Director - both joining Tom Askwith Director & General Manager, Peter Brooks Operations Director & Company Secretary. Martin Atkins has also joined the Board as Engineering & Quality Director.

Ray Pover, who has been working with TELCON for the last 2 years is now heading the Sales Drive as Business Development Manager and has brought with him extensive world-wide experience in TELCON'S key market places.

At TELCON we feel it is important to work closely with our highly valued customers and we are confident that, with the new ownership and structure, we will continue to give the top-class service that is expected.

Feb 2007

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