Completion of Acquisitions

Velosi Limited
13 March 2007


13 March 2007


                 Velosi Completes Acquisitions, Wins Contracts


Completion of Acquisitions

Velosi Limited ('Velosi'), a provider of quality assurance and quality control
services to leading national and multinational oil and gas companies, is pleased
to announce the completion of the acquisitions of a majority 51% shareholding in
both Steel Test Pty Limited ('Steel Test') and Plant Design Engineers Sdn Bhd
('PDE'). Both acquisitions were announced on 15 December 2006.

Steel Test

Following the completion of the acquisition of Steel Test, a South African-based
company with in-depth expertise in tube inspection, Velosi is pleased to
announce that Steel Test has been awarded a contract for the inspection of the
Tutuka Power Station in South Africa. The contract will run for a period of 19
months and will cover the inspection of five condensers.

In addition, Steel Test has secured new contracts with Sirte Oil Company, one of
the principal companies operating under the National Oil Corporation of Libya,
and with SGS, a multinational inspection company, for the inspection of a SGS
fertilizer plant in Pakistan.

Plant Design Engineers

PDE, based in Malaysia, provides state-of-the-art 3D laser scanning imaging of
oil and gas plants to create virtual models of the plants. Since completion of
the acquisition by Velosi, PDE has been awarded a contract by BP West Java Ltd.
The contract covers a seven-month period and provides laser scanning imaging
services at the BP West Java Rehabilitation Project.

Commenting on the completion of the acquisitions, Dr. Nabil Abdul Jalil, CEO of
Velosi, said: 'Velosi now has a presence in over 31 countries. Today's
announcement demonstrates our strategy to grow geographically through
acquisitions and joint ventures with local partners. We are enhancing our
ability to win domestic and global contracts by combining Velosi's extensive
range of services with the local knowledge and specialty offerings of our
subsidiaries and local partners.'

Media Enquiries:

Velosi                           Dr. Nabil Abdul Jalil        020 7930 0777
                                 Dan Ooi
Strand Partners                  James Harris                 020 7409 3494
                                 Warren Pearce
Charles Stanley Securities       Mark Taylor                  020 7739 8200
                                 Freddy Crossley
Cardew Group                     Tim Robertson                020 7930 0777
                                 Eden Mendel
                                 Emma Consett


Notes to editors:

About the Velosi Group

The Velosi Group, founded in 1982, provides quality assurance and quality
control services to a number of leading national and multinational oil and gas
companies, including BP, Shell, ExxonMobil and Chevron. The Velosi Group
operates globally through four principal offices in the USA, the UK, Malaysia
and the UAE and has operational or representative offices in a further 27
countries worldwide. Velosi joined the AIM market on 21 August 2006. The placing
raised £10 million (before expenses), the net proceeds of which will be used to
repay existing loans, provide financing for the Group's acquisitions and planned
expansion into new regions, and to provide working capital for the Velosi Group.
In December 2006, Velosi acquired a majority stake in both Plant Engineering
Design and Steel Test. For more information, visit www.velosi.com.





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