less debt - for nylex

This business is really on track for a huge turnaround.
The stock is so well priced at the moment. Grab a few and put them in the bottom draw. You will be happy you did in a few months time.

28 October 2004
ACN 95 009 375 553
Level 2 564 St Kilda Road Melbourne Victoria 3004 Australia Phone 61 3 9533 9333
Fax 61 3 9533 9388
STOCK EXCHANGE ANNOUNCEMENT
NYLEX LTD DIVESTS MORE NON-CORE BUSINESSES
The directors of Nylex Limited today announced another important step in its re-structuring
program, with the divestment of a range of four non-core automotive businesses, with gross
proceeds of $12.5 million.
The divestments are part of the group’s ongoing divestment programme of non-core
businesses and their sales are expected to have no impact on the recently announced net profit
after tax forecast of $14.5 million to $15.5 million for the 2004-2005 financial year.
The divested businesses comprise:
• Henderson’s South Australia - Metal Fabrication
• Henderson’s Geelong – Metal Fabrication
• Marsden & McGain – Metal Fabrication
• Huntingdale – Plastic Blow Moulding
Managing Director, Glen Casey, said “These businesses were manufacturing commodity
products and competition with imports was becoming increasingly difficult for us to manage,
especially in the volatile conditions now prevailing in the motor vehicle industry.
These divestments take the number of non-core businesses divested over the last three years
to 21, with gross proceeds of about $177 million.
Mr Casey said “With the successful $100 million capital raising and the divestments of non-
core operations, we have reduced dramatically our debt levels to around $145 million. These
initiatives, together with new banking arrangements, have placed the group on a strong
footing for future growth and a return to healthy profits in coming years”.
For Media Inquiries Call:
Glen Casey Tim Allerton
Nylex Ltd City PR
(03) 9533 9333 (02) 9267 4511