RNS Number:8440R
Eleco PLC
2 October 2000


Re:  Substantial Interests in Shares
Allotment of Shares to the Eleco plc Employee Share Ownership Trust


Eleco plc announces that it has today, 2 October 2000, allotted 1,738,750
Ordinary 10p shares, representing 4.27% of the Company's enlarged issued share
capital, to the Trustee of the Eleco plc Employee Share Ownership Trust. The
allotment was made pursuant to the exercise of options granted to the Trustee in
1998 and 1999 for the purpose of satisfying awards made under the Company's Long
Term Incentive Plan, as detailed in the Company's Annual Report and Accounts.

The Trustee has waived all dividends on shares held within the Trust prior to
their vesting date. Subject to certain conditions and, where relevant,
performance requirements, 1,018,750 shares will vest in 2001, 552,500 shares
will vest in 2002 and 125,000 shares will vest in 2003.

Under FRS 14, the conversion of the options into shares does not affect the
calculation of the Company's basic earnings per share whilst the shares are held
within the Trust. Under FRS 14, the company's fully-diluted earnings per share
figure, as shown in the Preliminary Announcement published earlier today,
already takes account of Trustee's option rights to the shares.

Following the above-mentioned allotment, the number of the Company's Ordinary
10p shares in issue now stands at 40,760,021.
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