De La Rue Appoints Outgoing Bank Of England Executive As Advisor

News Release : 9 May 2001

De La Rue plc, the cash to secure transactions Group announced today that Alex Jarvis is to join the company as a special advisor to chief executive, Ian Much.

Mr Jarvis was previously General Manager of the Bank of England Printing Works for 14 years until his retirement in February 2001. The printing works employs over 500 staff and had a turnover in excess of £50 million in 2000. Reporting to the Deputy Governor, Mr Jarvis had responsibility for all aspects of banknote production including resources, materials, design processes and technology. In all, he spent 40 years with the Bank in various senior positions including Deputy General Manager and Head of Personnel.

In 1992, Mr Jarvis was asked by European Union Governors to form and lead the EU-wide Working Group which was responsible for the introduction of the banknotes for the single European currency, the euro. He chaired the Group for over six years until the establishment of the European Central Bank (ECB) in July 1998; consequently the Group is now chaired by an ECB full-time official, Anti Heinonen.

Mr Jarvis will advise De La Rue in the development of its long term banknote strategy including all aspects of design and production, substrate development and anti-counterfeit technology. In addition, he will assist the company in developing a range of services and solutions for the world's central banks and state printing works, across the broad range of De La Rue's activities.

Commenting on his appointment, Ian Much said:

"Throughout his distinguished career at the Bank of England Alex has remained a leading industry authority on banknote technology. During his time at the Bank, he has acted as a worldwide ambassador and maintained its leading edge status in the banknote printing fraternity. We are delighted that he will be joining De La Rue and his knowledge and expertise in running one of the largest banknote printing facilities in the world will be an enormous asset in assisting us with developing our future strategies and customer relationships."

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For further information please contact:

De La Rue plc

Paul Hollingworth, Finance Director, +44 (0)1256 605307
Mark Fearon, Head of Corporate Affairs, +44 (0)1256 605303
Stephen Breslin, Brunswick, +44 (0)207 404 5959


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