Trading Statement

Velosi Limited
07 December 2006



                                 Velosi Limited


                                 Trading Update


Velosi Limited ('Velosi' or the 'Company') is pleased to announce a positive
update on trading for the year ending 31 December 2006.

Following the announcement of Velosi's interim results on 28 September 2006, the
Company has continued to experience increasing demand for its services from
major oil and gas multinationals. In particular, demand has been strong in
Nigeria, the US and Qatar.

As a result of the increasing demand for Velosi's services, the Board
anticipates that revenue for the year ending 31 December 2006 will be ahead of
expectations. The Company's Project Verification division is experiencing high
growth driven by contracts with Mobil Producing Nigeria, Ras Gas and Qatar
Petroleum.  Velosi's Quality Enhancement Division is also experiencing a high
level of demand because of services to JGC and Chevron. Both divisions were
positively affected by work coming through from contracts won, and renewed,
earlier in the year.

Since Velosi's admission to AIM, in August 2006, the Company has continued its
strategy of entering new geographic markets and has increased its investment in
infrastructure to provide a strong base for continued growth. As a result of
this increased investment, and the group's prudent accounting practices, the
Board expects profit before tax for the year ending 31 December 2006 to be
marginally ahead of expectations.

However, the Board expects profit after tax and minority interests to be ahead
of expectations, due to the increased contribution from the Middle East in
recent months, where Velosi enjoys a significantly lower tax charge.

Due to the improved trading performance, and visibility provided by existing 
contracts and recent contract wins, the Board has confidence in the Company's 
trading performance in 2007 and beyond.

Media Enquiries:

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

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.
For more information, visit www.velosi.com.


                                    - ENDS -




                      This information is provided by RNS
            The company news service from the London Stock Exchange