BCL Betcorp

RNS No 9897p
BANNER CHEMICALS PLC
24 September 1999


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

                     PETROFERM UK LIMITED ("PETROFERM UK")

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

                            RECOMMENDED CASH OFFER

                                      FOR

                        BANNER CHEMICALS PLC ("BANNER")

                  COMPULSORY ACQUISITION OF BANNER SHARES AND
                   DE-LISTING FROM THE LONDON STOCK EXCHANGE


Petroferm UK announces that, as at 3.00 pm on 23 September 1999, Petroferm  or
Petroferm  UK  owned  or  had  received valid acceptances  in  respect  of  an
aggregate 68,507,925 Banner Shares, representing approximately 90.87 per cent.
of  the issued share capital of Banner. Therefore, Petroferm UK has today sent
to  those  Banner  Shareholders who have not yet validly  accepted  the  Offer
compulsory  acquisition  notices  in accordance  with  Sections  428  to  430F
(inclusive) of the Companies Act 1985.

The Offer will remain open for acceptance until Friday 8 October 1999 and will
then close.

Geoffrey  R  Cross and Michael E Hayes have today been appointed directors  of
Banner.  John Dewhurst and Terence Smith, non-executive directors  of  Banner,
have agreed to resign from the Board with immediate effect.

In  accordance  with  the  Rules of the London Stock  Exchange,  Petroferm  UK
announces that the listing of Banner shares will be cancelled twenty  business
days from the date of this announcement, being Friday 22 October 1999.

Enquiries:

Petroferm UK          Michael E Hayes           001 904 277 5241
                      Geoffrey R Cross
                      
IDJ Limited           John Incledon             0171 499 0355
                      Charles Sebag-Montefiore
                      
Banner Chemicals      Alan Howarth              01928 597000
                      Tim McInnes
                      
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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