Issue of Equity

RNS Number:4949V
Fenner PLC
17 February 2004



Not for release, publication or distribution, in whole or in part, in, into or 
from the United States, Canada, Australia, the Republic of Ireland or Japan.

                                      17 February 2004

                                   Fenner plc
                          ("Fenner" or "the Company")
                                        
          Fenner raises #4.9 million to accelerate development inChina

Fenner is the world leader in the global conveyor belting market and its
products include light and heavyweight conveyor belting for the mining and power
generation markets, and precision motion control products for the computer,
copier andmechanical equipment markets.

Fenner is pleased to announce that it is raising approximately #4.9 million
before expenses through a placing for cash of 5,164,776 new Fenner ordinary
shares ("the Placing Shares") at 95 pence per share ("the Placing").

The Placing Shares, which represent approximately 5.0 per cent. of the Company's
issued ordinary share capital prior to the Placing, have been placed with
institutional investors by the Company's broker, Collins Stewart. The Placing
Shares represent the maximum number of shares available for issue under the
authorities approved by shareholders at the Company's Annual General Meeting
held on 7 January 2004. The Placing price of 95 pence per Placing Share
represents a discount of 5.0 per cent. to the closing middle market price on 16
February 2004.

The gross proceeds of the Placing of #4.9 million (#4.7 million net of expenses)
will provide additional equity capital which will be used to accelerate the
development of the Company's operations in China and to reduce borrowings
incurred from recent acquisitions.

Application will be made for the Placing Shares to be admitted to the Official
List of the UK Listing Authority and to the London Stock Exchange's market for
listed securities ("Admission"). The Placing is conditional on Admission, which
is expected to become effective on 24 February 2004. When issued, the Placing
Shares will rank pari passu in all respects with the Company's existing ordinary
shares. Following thePlacing, Fenner will have a total of 108,600,627 ordinary
shares in issue.

Mark Abrahams, Chief Executive of Fenner said:
"These monies will allow us to accelerate our development in China, which
continues to offer Fenner exciting growth potential in both specialist hose and
conveyor belt products.

"Following the acquisition of Indico earlier this month, the placing also
provides further funds as we seek growth from our recent acquisitions."

                                    - ends -


Enquiries:

Fenner plc                                                        01482 626511
Mark Abrahams, Chief Executive
Richard Perry, Finance Director

Weber Shandwick Square Mile                                      020 7067 0700
Nick Oborne / Peter Corbin

The offer for securities in the Company will not be made, directly or
indirectly, in or into the United States, Canada, Australia, the Republic of
Ireland or Japan.  Accordingly, copies of this press release are not being and
must not be mailed or otherwise distributed or sent in or into or from the
United States, Canada, Australia, the Republic of Ireland or Japan and persons
receiving this press release (including custodians, nominees and trustees) must
not distribute orsend it into or from the United States, Canada, Australia, the
Republic of Ireland or Japan.

Collins Stewart Limited which is regulated and authorised by the Financial
Services Authority is acting exclusively for the Company in connection with the
Placing and will not be responsible to any other person or persons for providing
the protections afforded to customers of Collins Stewart or for giving advice in
relation to the Placing or the contents of this announcement. In acting for the
Company Collins Stewart has relied on information provided to it by both the
Company and the Directors.

This announcement does not constitute an offer or invitation to purchase or
subscribe for securities in any jurisdiction.

                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
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