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To: BW who wrote (12580)	6/25/2003 9:19:49 AM
From: Bucky Katt	Respond to of 48461

These guys are smart> Trinity Biotech plc (Nasdaq: TRIB - News) announced today that Trinity and Xtrana have settled Trinity's lawsuit for breach of contract by Xtrana. Under the terms of the settlement agreement, both sides have agreed to incur their own costs, and Trinity agreed to pay immediately the 5% loan notes due to Xtrana in the amounts of US$1.11m and US$0.57m which were otherwise due in December 2003 and 2004 respectively. These notes have now been paid, less a discount of $225,000. Trinity Biotech also announced a new US$10million club banking facility which is being provided by Bank of Scotland and Allied Irish Banks to the Trinity Group. The new facility will be partly used to repay existing loans, including the loan notes to Xtrana and is at an interest rate which is 2.75% less than the coupon otherwise payable to Xtrana. "Despite the merits of our case against Xtrana," Ronan O'Caoimh, Trinity Biotech's C.E.O. commented, "Trinity agreed to a settlement because in the event that the courts awarded significant damages to Trinity, there was uncertainty about the collectability of the monies due. Our decision was also influenced by the discount of $225,000 and the fact that the payment made is financed at a significantly more favourable rate of interest due to the new banking facilities arranged by Allied Irish Bank and Bank of Scotland".