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The company said that he has been placed on garden leave until 24 April 2009.

Hightex said that the search for a replacement CEO had started, but as an interim measure Charles DesForges, the company’s non-executive chairman, will become actively involved in the day to day running of Hightex as executive chairman.

DesForges is an experienced industrial manager, having held senior management and board positions in several multi-national companies.

Hightex also announces that with immediate effect Frank Molter, currently the finance director, has been appointed chief operating officer, responsible for managing all aspects of the membrane and solar business.

Until a replacement finance director has been appointed, Molter will act in a dual capacity.

Hightex also announced that David Walker, an executive director, has been appointed commercial director with immediate effect. He will be responsible for all commercial matters across the group.

Hightex said it intends to announce its preliminary results for the year ended 31 December 2007 “in due course”.

The directors of Hightex estimate that the consolidated turnover will be around €13 million and that the loss before interest and taxation will be around €2.4 million.

In September 2007, Hightex reported results for the six months ended 30 June 2007 of losses before taxation of €437,000, compared with a combined loss before taxation of €894,000 in the first half of 2006.

In the current trading year ending 31 December 2008, Hightex’s turnover will include the bulk of its EUR 7 million contract to provide the membrane roof as part of the upgrading of the First National Bank (FNB) Stadium in Johannesburg, South Africa, with additional turnover from European contracts including work on the retractable roof at the Centre Court, Wimbledon.

Hightex said it was also close to signing one further significant contract.

Hightex has a long history of building large span roofs and facades using architectural membranes, exemplified by the Abuja Stadium for the All African Games in 2003 as well as the Berlin Stadium, Germany, used for the most recent FIFA World Cup Final in 2006.

Last autumn Hightex completed the one of the largest membrane projects in the world, designing and constructing the energy-saving, sound-optimised, triple layer membrane roof for the Suvarnabhumi Airport in Bangkok, Thailand.

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• Hightex Group plc