Eclipse Magnetics Secures Contract with Parmargan Products Ltd.

    BOCA RATON, Fla.--April 22, 2003--Spear & Jackson (OTCBB:SJCK) has announced that its Division Eclipse Magnetics has just secured a contract for new generation magnetic sorting machines with Parmargan Products Ltd.
    Eclipse Magnetics, the renowned UK based Magnetics Company designed, built and delivered the new generation magnetic sorting machine to separate rubber sealing rings which carry steel inserts as part of their ongoing procedures to the automotive industry.
    Parmargan Products Ltd. is a manufacturer of rubber sealing rings, used on air conditioners within cars. They specifically manufacture for the Automobile Industry.
    These new generation magnetic sorting machines are capable of sorting up to 400 rings per minute with Electrical control inverters fitted to increase this number when customer demands necessitates. There are thousands of different rubber and plastic parts that require metal inserts, with only a small selection of machines capable of sorting such parts. The Eclipse system gives customers quality protection, short payback periods and requires less maintenance than other temperamental Electronic Systems.
    Spear & Jackson, based in Sheffield, England is one of the largest and oldest tool manufacturers in the UK. Spear & Jackson's roots go back to the 1740's as one of the premium tool manufacturers.
    Spear & Jackson manufacturers and distributes tools, garden tools, metrology equipment, woodworking tools and magnetic equipment. They sell their products under Spear & Jackson, Neill 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 judgment 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 constructions 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. Interested parties should review the "forward-looking statement" sections in the Spear & Jackson reports filed with Securities & Exchange Commission, including the annual report on form 10K for the fiscal year ended September 30, 2002.