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Asbestos Litigation
Scapa is pleased to announce today that it has just completed the re-negotiation of its Legal Cost Apportionment Agreement with its US insurance carriers. This Agreement covers the sharing of defence costs for personal injury claims in the USA that allege exposure to asbestos from a business Scapa sold in 1999. With effect from 1 April 2006 and for the following three years, Scapa's share of costs under the new Agreement will reduce from 50% to 25%. At current expenditure levels this change represents a cash saving of approximately £0.5m per annum.
For further information:
| Calvin O'Connor |
Chief Executive |
Tel: 0161 301 7430 |
| Mark Stirzaker |
Company Secretary |
Tel: 0161 301 7430 |
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