Trading Statement

10 January 2013

                               XP Power Limited                                

                          ("XP Power" or "the Group")                          

                                Trading Update                                 

XP Power, one of the world's leading developers and manufacturers of critical
power control components to the electronics industry, is today issuing a
trading update for the fourth quarter ended 31 December 2012.

Trading


Revenues for the twelve months ended 31 December 2012 were 9% lower than those
achieved in 2011. In constant currency revenues also declined by 9%. Customers
continue to be cautious in placing new orders and taking delivery of product
from their existing call off orders.

Although markets have remained challenging, revenues showed a marginal
sequential improvement from the first half of the year to the second half.
Factory loading in our Chinese facility has increased and start-up losses in
our new Vietnamese facility have declined. These combined factors should result
in a solid improvement in gross margins in the second half of the year compared
to the first half, as expected.

Financial Position


Net debt was £10.7 million at 31 December 2012 compared to £18.6 million at 31
December 2011. Using the exchange rates prevailing at 31 December 2011, net
debt at 31 December 2012 would have been £11.1 million.

Dividend

A dividend of 12 pence per share for the third quarter will be paid today, 10
January 2013, to shareholders on the register at 14 December 2012.

The dividend for the fourth quarter of 2012 will be announced with the 2012
final results on 25 February 2013 but is not expected to be less than 16 pence
per share, representing a minimum total dividend of 49 pence per share for
2012, an increase of 9% over the total dividend of 45 pence per share paid for
2011.

Outlook

XP Power's customers supply capital equipment to markets across the globe. The
macro-economic outlook for these customers appears to be less positive entering
2013, in an environment characterised by reduced government spending and
increased taxation, which are not generally positive indicators for increased
investment in capital equipment.

Orders received in the second half of 2012 are 8% higher than the comparable
period in 2011. However, at this early stage of the year, this would indicate
flat or only modestly increased revenue for 2013.

XP Power has a long-established strategy of targeting blue chip customers with
strong leadership positions in their respective markets, and whose requirement
to vet their suppliers' design and manufacturing facilities acts as a
significant barrier to entry to many of the Group's competitors. The success of
this strategy has mitigated some of the reduction in the market for power
supplies in 2012 and should leave us well placed for the year ahead. We expect
further successful factory audits and customer wins in 2013 but are cautious
given the state of capital equipment investment in our customers' end user
markets at present.

XP Power will announce final results for the 12 months to 31 December 2012 on
25 February 2013.

                                   - Ends -                                    

Enquiries:

XP Power

Duncan Penny, Chief Executive [phone]

Jonathan Rhodes, Finance Director [phone]

Citigate Dewe Rogerson [phone]

Kevin Smith/Jos Bieneman

Note to editors

XP designs and manufactures power controllers, the essential hardware component
in every piece of electrical equipment that converts the power from the
electricity grid into the right form for the equipment to function.

XP typically designs in power control solutions into the end products of major
blue chip OEMs, with a focus on the industrial (circa 40% of sales), healthcare
(circa 30% sales) and technology (circa 30% of sales) sectors. Once designed
into a program, XP has a revenue annuity over the life cycle of the customer's
product which is typically 5 to 7 years depending on the industry sector.

XP has invested in research and development and its own manufacturing facility
in China, to develop a range of tailored products based on its own intellectual
property that provide its customers with significantly improved functionality
and efficiency.

Headquartered in Singapore and listed on the Main Market of the London Stock
Exchange since 2000, XP serves a global blue chip customer base from 27
locations in Europe, North America and Asia.