BCL Betcorp

RNS No 6335u
BANNER CHEMICALS PLC
5 August 1999


NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE  UNITED STATES
                           OF AMERICA OR CANADA

                   PETROFERM UK LIMITED ("PETROFERM UK")

         a wholly owned subsidiary of PETROFERM INC. ("PETROFERM")

                          RECOMMENDED CASH OFFER

                                    FOR

                      BANNER CHEMICALS PLC ("BANNER")


                LEVEL OF ACCEPTANCES AND EXTENSION OF OFFER

Petroferm  UK announces that, as at 3.00 pm on 5 August 1999, Petroferm  or
Petroferm  UK  owned or had received valid acceptances  in  respect  of  an
aggregate  50,594,344  Banner Shares, representing approximately  67.1  per
cent. of the issued share capital of Banner. The Offer for Banner has  been
extended  and will remain open for acceptance until 3.00 p.m. on 26  August
1999.

Immediately  prior  to  the announcement of the Offer,  Petroferm  UK  held
500,000 Banner Shares, representing approximately 0.7 per cent. of Banner's
issued   share   capital,  and  Petroferm  UK  had   received   irrevocable
undertakings   to  accept  the  Offer  from  certain  Banner  Shareholders,
including  the  Banner directors, in respect of a further 7,845,028  Banner
Shares, representing approximately 10.4 per cent. of Banner's issued  share
capital.  Accordingly, immediately prior to the announcement of the  Offer,
Petroferm or Petroferm UK owned or had received irrevocable undertakings to
accept  the  Offer  in  respect  of a total of  8,345,028   Banner  Shares,
representing approximately 11.1 per cent. of Banner's issued share capital.

Since the announcement of the Offer, Petroferm UK has acquired in aggregate
a  total of   8,564,125 Banner Shares, representing approximately 12.0  per
cent. of Banner's issued share capital.

By  3.00  pm  on  5 August 1999, valid acceptances of the  Offer  had  been
received  in  respect of a total of 41,530,219 Banner Shares,  representing
approximately  55.1  per  cent. of Banner's  issued  share  capital.  Valid
acceptances  in  respect  of 7,781,480 Banner Shares  the  subject  of  the
irrevocable  undertakings  referred  to  above,  are  included   in   these
acceptances.

Save  as  disclosed  in  this announcement, neither Petroferm  UK  nor  any
persons  deemed to be acting in concert with Petroferm UK held  any  Banner
Shares  (or  rights over such shares) immediately prior to the commencement
of the Offer Period, nor have they acquired or agreed to acquire any Banner
Shares (or rights over such shares) during the Offer Period.

Enquiries:

IDJ Limited                John Incledon                   0171 499 0355
                           Charles Sebag-Montefiore

Banner Chemicals           Alan Howarth                    01928 597000
                           Tim McInnes

Hawkpoint Partners         Tom Bayne                       0171 665 4500
                           Julie Silvester

Binns & Co.                John Wade                       0171 786 9600
                           Peter Binns

The  definitions set out in the Offer document dated 15 July 1999 apply  in
this announcement. The Offer is not being made, directly or indirectly,  in
or  into the United States, Canada, Australia or Japan. Accordingly, copies
of  this  announcement are not being, and must not be, mailed or  otherwise
distributed  or  sent  in or into the United States, Canada,  Australia  or
Japan.

The Petroferm Directors accept responsibility for the information contained
in this announcement, and to the best of their knowledge and belief (having
taken all reasonable care to ensure that such is the case), the information
contained in this announcement is in accordance with the facts and does not
omit anything likely to affect the import of such information.

IDJ  Limited,  which is regulated in the UK by The Securities  and  Futures
Authority Limited, is acting exclusively for Petroferm and Petroferm UK and
no  one  else  in connection with the Offer and will not be responsible  to
anyone  other than Petroferm and Petroferm UK for providing the protections
afforded  to  customers of IDJ, or for giving advice  in  relation  to  the
Offer.

END

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