Stovec Industries Updates

Stovec Industries Ltd has informed about the following:

The shareholding of the Company to the extent of 51% is held by Stork Prints B.V. which is a subsidiary of Stork N V.

The Company reproduce below a joint press release from Stork NV. and Bencis Capital Partners BV made on November 13, 2007.

"Stork N V and Bencis Capital Partners B V have concluded the sale of 60% of the interest in Stork Prints to Bencis. The sale ties in with Stork's objective of achieving greater focus in its activities. The transaction is based on an enterprise value of € 102 million for the whole of Stork Prints.

Stork Prints will continue to operate under its current name and supported by Bencis, the existing management will continue to focus on expanding graphic activities whilst maintaining its leadership position in the worldwide textile market. Some 1,350 employees will be involved in the takeover. There will be no immediate negative consequences for current employment levels at Stork Prints. The works councils have responded positively and the trade unions have been informed. Also the transaction has been approved by the relevant Competition Authorities.

Stork supplies systems, components and services in which the specialised Stork know-how in technology and production processes is applied. Its core activities are Aerospace, Food Systems and Technical Services. The Company achieved a turnover of € 2 billion in 2006 with 12,714 employees.

Bencis is an independent investment Company targeting mediumsized Companies in the Benelux countries. The current portfolio includes chemicals distributor Quaron, sports chain store AktiesportlPerry Sport and the graphic concern Neroc."