Offer made for Andor Technology.

London, England 8/13/08 -- The independent directors of Andor Technology, an London AIM listed manufacturer of spectrometers, microscopes and scientific cameras, have recommended the company accept an offer from Thorndale for 73 pence ($0.0139) in cash per share, or 21.8 million [pounds sterling] ($41.5 million). The offer represents a 30.4% premium over the stock's closing price on July 23, the last day before the offer was made. Thorndale was formed by private equity investors and Andor management in order to make the purchase. For the year ended September 2007, Andor's revenues rose 10.5% to 21.3 million [pounds sterling] ($40.6 million) and operating profit was up 1.2% to 1.4 million [pounds sterling] ($2.7 million). Pending shareholder approval, the purchase is expected to close in early October.

The Board cited the company's poor performance on the AIM market in its support of the offer. Andor is based in Belfast, Ireland, and was founded in 1989. It is focused on three markets: scientific research, instrumentation/OEM, and space and security. Scientific research accounted for 71% of sales in fiscal 2007 and rose 8% Andor has net assets of 12.9 million [pounds sterling] ($24.6 million).