Whatman Completes Acquisition of Schleicher & Schuell

The acquisition, which will be financed in full by debt, offers Whatman a highly attractive opportunity to enhance its presence in the global separations market and is expected to deliver significant value for Whatman's shareholders through cost and revenue synergies beginning in 2005.

Benefits of the acquisition are enhanced market presence - S&S's leading position in Germany gives Whatman a significant presence in Europe's largest economy and complements Whatman's own presence in the UK and elsewhere in the EU.

In the US, the enlarged group will benefit from S&S's presence in the US BioScience and MedTech sectors and that of Whatman in LabSciences, strengthening its overall presence in the US economy. With an additional around 40% of sales from S&S, the enlarged group will have a combined share of approximately 16% of the global LabSciences sector, making it the clear No. 3 in the industry and enhancing its competitive position against the sector leaders.

Product and technology fit - The combined product portfolios of the two companies, supported by an enhanced sales presence in the sector, will enable the enlarged group to sell a broader range of products to both existing and new customers, better positioning it for growth.