ENN Ennstone

    RNS Number : 4667L
  Ennstone PLC
  12 January 2009
   

    Ennstone plc
    ("Ennstone" or the "Company")

    Property Disposal

    Ennstone announces that, on 9 January 2009, the Company exchanged contracts for the sale of its former natural stone works and redundant
quarry at Stainton, County Durham to a group of local businessmen (Messrs Buck, Foster and Gauja) for a cash consideration, payable on
completion, of �1.325 million (the "Transaction"). It is currently anticipated that the Transaction will be completed on Wednesday 14
January 2009. At 31 December 2008, the assets subject to the Transaction had a net book value of �2.234 million and for the financial year
ended 31 December 2008 generated no revenue or profitability.

    The proceeds of the Transaction will be retained by Ennstone to meet its short term working capital requirements. The Company continues
to be in negotiations regarding either a refinancing or an offer for the Company. These negotiations are on-going, however, the Company's
financing situation remains critical and there can be no certainty of a satisfactory outcome.

    Enquiries:

 Ennstone plc                                 01332 694 444
 Vaughan McLeod              
                                              0161 831 9133
 Altium  
 Phil Adams  

 College Hill                                 0207 457 2020
 Mark Garraway                            




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