Bulldog Products Press Release - June 18th 2004.

From the beginning of this year it has become obvious that there is a world shortage of certain raw materials caused by an ever-increasing demand from the Far East. In particular, it has been reported in the press that China alone is now taking almost one third of the world's steel production. The effects of this for us are rapidly increasing costs and steel shortages.

Against this background of price movements, we are left with no alternative but to apply a price increase ourselves. We understand that at the present time it is difficult for all and with this in mind we are asking for the minimum possible figure, an increase of 6%.

Bulldog is only using this price increase to recover the cost of rising steel prices and I trust that you appreciate the need for us to do this. Should steel prices fall back to a sensible level, we will pass on this reduction at the earliest oppurtunity.