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SALE OF GEARBOX DIVISION

12:00AM, 26 Jul 1999 | ASSET

Extract from announcement received:
Scott Technology advised on 02/06/99 that the company has
sold its industrial gearbox division.  The final sale price
of the division, which consisted of stock, debtors and plant,
was heavily influenced by the valuation of these assets at
the settlement date.  These valuations have now been
completed and audited with the final consideration set at
$1,243,320.  This amount is payable in cash with full
settlement by 30/07/99.  This amounts exceeds 10% of the
shareholders funds of Scott Technology.