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SCT - Half Year Result for the Six Months Ended 29/02/2008

12:00AM, 2 Apr 2008 | HALFYR

2 April 2008

Listed Company Relations
New Zealand Exchange Limited
PO Box 2959
Wellington

Dear Sir/Madam

Scott Technology Ltd - Half Year Result for the Six Months Ended 29 February
2008

The Directors of Scott Technology Limited advise that the unaudited result
for the six months ended 29 February 2008 was a loss of $836,000, compared to
an unaudited profit for the six months ended 28 February 2007 of $1.2
million.  Group sales for the six months were $8.3 million, compared to group
sales of $14.3 million for the six months ended 28 February 2007.

As foreshadowed at the Company's Annual Meeting in December 2007, the
principal challenges for Scott Technology Limited are the high value of the
New Zealand dollar, high domestic interest rates and the global liquidity
crisis.  The global economic situation has seen many prospective overseas
purchasers deferring new capital projects and this has affected the level of
sales for both the Appliances and Automotive divisions.

However, while the Company is operating in a difficult macro economic
environment, the number of enquiries received and quotations provided to
customers are at record levels.  Some of these opportunities are in
industries and countries that have not traditionally been our markets.  This
is very encouraging for medium to long term forward work.

The Directors have decided not to pay an interim dividend but will
re-introduce half yearly dividends when the Company returns to targeted
profit levels.

The Company is pleased to announce that it has recently established a
European presence, Scott Euro, under a joint venture arrangement with Luciano
Schiavi.  Luciano Schiavi is well connected within the European appliance
industry and the Company has already received a number of positive enquiries
from this arrangement.  This adds to the Company's existing Chinese and North
American agencies.

Scott Service International Limited, the Company's customer focussed service
provider, continues to grow and has contributed positively over the last six
months, both in profit and in providing additional service reach to
customers.

At the last Annual Meeting the Company announced that it is actively seeking
suitable acquisitions where value is added, the risks are acceptable and
there is business fit and synergy.  The Company is currently evaluating a
number of potential acquisitions and joint venture opportunities against
these criteria, and is in the process of undertaking due diligence on an
automation company.  Pending the outcome of due diligence the Company
anticipates that it will be in a position to finalise this within the next
two months.

Finally, construction has begun on the new larger purpose built engineering
facility and Head Office in Dunedin, with a planned completion date of August
2008.

Despite the difficult economic conditions, the Company remains strong
financially, with excellent prospects for the medium to short term and a
committed management team and Board of Directors.

Yours faithfully

Stuart J McLauchlan                     Christopher C Hopkins
Chairman                                Managing Director