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12:00AM, 1 Feb 2001 | MSP

In response to a share price enquiry from the NZSE Market surveillance Panel
regarding Scott Technology's share price quoted this morning at $1.70 per
share, a decrease of 40 cents per share, since 25/01/01.  Scott Technology
have responded with the following:_
1.      Is your company in possession of information which, if generally
available to the public might reasonably be regarded as an explanation of the
price variation?_
2.      Does your company have any reason to believe or suspect that any
person has bought or sold securities on the basis of such information?_
3.      Are there any matters of importance, concerning the company that the
company is about to announce to the Exchange, and can any such announcement
be made immediately?_
4.      Has any officer or other representative of the company made any
statement which has become public or generally known which may account for
the price fluctuation?_
YES.  _
On 25/01/01 the company made an announcement to staff on planned downsizing.
This news was reported in the local and national press the following day.
The announcement included the message that over the past 2 years the company
had experienced a dramatic increase in demand for our machinery from our
traditional North American market.  This strong demand was driven, in part,
by energy efficiency regulations in the USA and in some instances customers
brought forward their capital expenditure program to ensure their products
complied with these regulations.  In addition to this, the company undertook
a large project for a European customer.  To help the company complete these
projects Scott's increased staff numbers and leased additional buildings.
This work has now come to an end and with the American market facing a
slowdown, the forward order position is lower than at this time last year.
Scotts is now seeking to return to more "normal" pre-1998 staff levels.  The
first step was to relinquish the lease on additional buildings.  The company
is now faced with reducing staff numbers in line with anticipated forward
orders.  This is consistent with the comments made in our preliminary
announcement to the Stock Exchange dated 18/10/00, and similar profit
warnings noted in our 2000 Annual Report and at the company's AGM on
End CA:00063637 For:SCT    Type:MSP        Time:2001-02-01:16:39:46 Encrypt:Y