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COMPANY ANNOUNCEMENT: Interim Directors' Statement 24/11/2010

The following is a Company Announcement issued by Simonds Farsons Cisk plc pursuant to the Malta Financial Services Authority Listing Rules 5.86 and 5.88.  This statement is based on the unaudited management accounts of Simonds Farsons Cisk p.l.c. up to 31 October 2010 and other financial information.

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The Board of Directors hereby announces that since the publication, on 29 September 2010, of its condensed interim financial information for the six months ended 31 July 2010, no material events and/or transactions have taken place that would have an impact on the financial position of the Holding Company and its controlled undertakings, such that they would require specific mention, disclosure or announcement pursuant to the applicable Listing Rules.

The overall performance in the third quarter was satisfactory despite the highly challenging and competitive environment the Group operates in.  Group Turnover continues to increase across all segments with some notable successes in export markets. The Group is continuing with its declared strategy of divesting itself of non profitable businesses and improving both productivity and reducing costs in its core areas of business.

Works on the new €14 million Brewhouse and Water Treatment Facility are progressing according to plan.

The Directors expect that the Group’s results for the current financial year will show an improvement in profitability over those for the financial year ended January 2010.  The Group’s indebtedness position continues to improve significantly.   

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Arthur Muscat
Company Secretary