Eclipse Lands UK Supply of Anti-Theft Car Immobiliser

    BOCA RATON, Fla.--Nov. 20, 2002--Spear & Jackson (OTCBB:SJCK) announced that its division, Eclipse Magnetics, is in a partnership with the inventor of a new car security, STUD-IT, the revolutionary gear stick immobiliser that can eliminate automobile theft.
    Originally intending to purchase magnets for use in the production line, Cliff Jenkyns, the Chairman of STUD-IT Ltd., was so impressed by the skills of the Eclipse Magnetics Specials Division that he has taken them onboard to assist with the manufacture of his new patented car security product, therefore, solving a supply problem. Eclipse Magnetics welcomed the opportunity to provide the main assembly for STUD-IT and is now set to become the UK supplier of this assembly, taking them one step closer to being known as System Integrators.
    STUD-IT has already been launched in the USA and has recently set up deals with major car companies such as Hertz. The slogan "Find It Where You Left It" will soon be recognized across America, sweeping the global after auto market and it is anticipated that automotive manufacturers will soon be hot on its tail.
    Eclipse Magnetics is coordinating the full manufacture of this new product, from its early concept through to completion and is proud to play a part in its success. Eclipse Magnetics intends to utilize their existing worldwide distribution network and successful sales team to further promote and sell STUD-IT. This involvement will open up new doors for the Specials Division and let the world know that there is more to Eclipse Magnetics than just magnets.
    Eclipse Magnetics, a division of Spear & Jackson, is the largest UK manufacturer of Magnetic equipment. Eclipse offers a range of over 20,000 different magnetic products including electro-permanent chucks and platen, electro-magnetic beds, lifters magnetics, handling systems, special conveyors and magnetic separators.
    Spear & Jackson manufactures and distributes tools, garden tools, metrology equipment, woodworking tools and magnetic equipment. They sell their products under Spear & Jackson, Neil Tools, Bowers, Robert Sorby, Moore and Wright, Eclipse (Blades), WHS, Tyzack, and Eclipse Magnetics Brands. Spear & Jackson has divisions throughout England, France and Australia. Spear & Jackson distributes its products throughout the world.

    Disclosure concerning Forward-Looking Statements:

    Any forward-looking statements made in this release represent management's best judgement as to what may occur in the future. Various economic and competitive factors could cause actual results to differ materially from those discussed in such forward-looking statements, including some factors which will be outside of the control of the company, such as successful completion and consolidation of the acquisitions, such as consumer spending patterns, availability of consumer and commercial credit, interest rates, currency exchange rates, inflation rates, adverse weather, energy costs, freight costs, the level of residential and commercial construction and the costs of raw materials, along with other specific factors with respect to the company's businesses set forth in the company's responses and other documents filed with the Securities and Exchange Commission.