RNS Number:5410J
Applied Optical Technologies PLC
02 April 2003


2 April 2003


                         Applied Optical Technologies plc
                            ("AOT" or "the Company")

                        Restructuring and Grant of Options


The Directors are pleased to announce the completion of certain elements of the
rationalisation signalled in the trading statement on 20 February 2003.

The Company has agreed to acquire sole control of its specialist demetallisation
joint venture, Applied Technical Graphics, for #1 from its joint venture partner
Technical Graphics Security Products LLC (TGSP).  As part of this deal TGSP has
been granted options to subscribe for 100,000 ordinary shares in the Company at
60p each, exercisable at any time from 1 April 2005 until 31 March 2010.  The
Company has also agreed to waive its entitlement to recover certain amounts from
TGSP out of future profit and royalty streams. The Group will continue to
license the demetallisation technology from TGSP but will be liable for a
reduced royalty payment on any future sales.

The Group has merged the activities of its two UK based operating subsidiaries
(Applied OpSec Limited and Optical Security Industries International plc) into
one company and renamed it Applied Optical Technologies Limited.

As part of the ongoing review of costs within the Company's European operations
the statutory legal entity in Germany has been put into liquidation and a sales
agency agreement has been terminated.

The costs related to this restructuring will be classified as exceptional in the
accounts for the year ended 31 March 2003.

                                    - Ends -



For further information, please contact:

Applied Optical Technologies plc                                  0191 4193344
Mark Turnage, Chief Executive (mturnage@AOTgroup.com)
Mike Angus, Finance Director (mangus@AOTgroup.co.uk)

Weber Shandwick Square Mile                                       020 7950 2800
Nick Oborne/Sally Lewis



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