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Babcock International - AGM Devonport Announcement

Babcock International Group PLC : 13 July, 2007  (New Product)
At today's 11:30 Annual General Meeting of Babcock, the leading support services company, Gordon Campbell, Chairman, will make the following statement:
'We have today issued a trading update which in summary confirms that we are in line with our expectations for the current year and refers to a number of new contract wins. Most of our businesses are out-performing those expectations although there has been some weakness in the Rail business.

'The acquisition of Devonport Management Limited ('DML') was overwhelmingly approved by shareholders at the Extraordinary General Meeting on 15 June and we have subsequently completed the acquisition. We expect the OFT's decision in the course of the next few weeks. The Board believes that the acquisition of DML will be significantly earnings enhancing in the first full financial year following the acquisition and we are encouraged by the positive reaction from the senior management at DML.

'On 9 July the company announced that it had acquired 50.9% of the shares in issue of International Nuclear Solutions plc ('INS') and that the offer was wholly unconditional. The offer has been extended to 24 July 2007.

'As well as the earnings enhancement from acquisitions the Board continues to believe that there is significant scope for organic growth in our existing businesses and remains confident regarding the future prospects for the Group.'
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