25 Oct 2001

Interserve Plc has sold How Fire Limited and subsidiary companies for £12.5m less a net asset adjustment of approximately £0.2m to Tyco Holdings (UK) Ltd. The How Fire group is a leading provider of fire protection, detection and extinguishing systems. The statutory results for the consolidated business for the year ended 31st December 2000 show a turnover of £24.1m and profit before taxation of £1.7m

Following a strategic review Interserve concluded that How Fire did not fit with its long term objectives.

Interserve plc were advised in the sale process by Livingstone Guarantee plc and Wragge & Co.