AGM Statement

Plexus Holdings Plc 14 November 2007 Plexus Holdings PLC ('Plexus' or 'the Company') AGM Statement Plexus Holdings PLC, the AIM quoted oil and gas engineering services business, is holding its AGM today. At the meeting, Chairman Robert Adair will say, 'As highlighted in our recent results statement, Plexus made strong progress during the last financial year with an increasing number of leading international oil and gas companies choosing to use POS-GRIP(R) technology. Whilst our proprietary high pressure/ high temperature wellhead equipment enables companies to operate in evermore challenging environments, POS-GRIP is also being recognised for its superiority in terms of safety benefits and time saving. New contract wins during the last financial year and to date include: BG International Ltd, Maersk Oil North Sea UK Limited, Gaz de France Britain Ltd and Norsk Hydro Produksjon AS. Furthermore customers are continuing to use our services and equipment on an ongoing basis. 'In order to stay ahead of our competition, we continue to invest substantially in research and development and remain focused on extending the application of our technology across a number of new applications outside of surface wellhead equipment. Of particular note were recent contract wins for subsea POS-GRIP engineering solutions, which we expect will increase industry interest in the remote and subsea application of our proprietary technology. 'We are confident that 2008 will see further progress and new contract wins, and we look forward to updating shareholders accordingly over the coming months.' * * ENDS * * For further information please visit www.posgrip.com or contact: Ben van Bilderbeek Plexus Holdings PLC Tel: 020 7589 8555 Graham Stevens Plexus Holdings PLC Tel: 020 7589 8555 Elizabeth Kennedy Brewin Dolphin Tel: 0141 221 7733 Ken Fleming Brewin Dolphin Tel: 0141 221 7733 Felicity Edwards St Brides Media & Tel: 020 7242 4477 Finance Ltd Isabel Crossley St Brides Media & Tel: 020 7242 4477 Finance Ltd Notes Plexus Holdings PLC Plexus, which began trading on AIM in December 2005, is an established oil and gas engineering, and services business based in Aberdeen, with an office in London and a presence in Houston, Texas. It has developed and patented a method of engineering for oil and gas field wellheads and connectors, POS-GRIP, which involves deforming one tubular member against another to effect gripping and sealing. POS-GRIP wellhead systems have to date been used in over 120 oil and gas wells by international companies including BHP Billiton, BP, Brunei Shell Petroleum, ConocoPhillips, Gaz de France, Global Santa Fe, Maersk, Petro-Canada Trinidad & Tobago, Repsol, Talisman Energy, Tullow Oil, and Wintershall. The Company plans to accelerate the roll out of POS-GRIP technology as a superior alternative to current wellhead technology. It has particular advantages in HP/HT oil and gas environments for which there is increasing demand throughout the world. The Company's long-term goal is to develop POS-GRIP technology as the future industry standard for wellhead design. This objective includes the distribution of POS-GRIP technology through licensees to maximise market penetration. This information is provided by RNS The company news service from the London Stock Exchange
UK 100