Trading Statement

Volex Group PLC
06 March 2003


            TRADING UPDATE (Subject to Audit)


Volex  Group  p.l.c.,  the  world's  leading  independent
producer  of  electronic cable assemblies and  electrical
power  cords, announces an update on its trading position
for the year to end March 2003.

The  Group  has obtained new business in the second  half
year,  particularly in Eastern Europe and Asia, but  this
has  not  offset the continued and greater than  expected
underlying  decline  in the Group's traditional  markets,
particularly in the telecommunications and data  markets.
Whilst  order  books have continued to strengthen  during
our  last  quarter,  the translation into  firm  customer
delivery schedules has lagged behind our expectations and
the  outlook  remains difficult to predict. However,  the
Group  continues  to  gain share in  its  major  markets.
Sales  for the full year are, therefore, expected  to  be
approximately 10% below current market expectations.

The  second half-year operating profit will benefit  from
further  substantial  reductions in overhead  costs.  The
Group   consequently  anticipates   achieving   a   small
operating  profit  for  the full  year  (before  goodwill
amortisation).

The  Group anticipates a positive cash flow in the second
half year with net debt at the year end in the region  of
£42m  (subject  to  no  further  material  exchange  rate
changes) compared with £50.4m at last year end and £46.6m
at the half year end.

In  light of the time lag in order off-take, the  Company
will  be  reviewing  its  current  trading  position  and
covenants with its bankers.  On the basis of the  Group's
recently completed business plans, it anticipates it will
continue to be able to make its scheduled payments to its
bankers in the next two years.


For further information, please contact:

Volex Group p.l.c.                           01925 830101

Dom Molloy, Chairman
John  Corcoran, Group  Chief
Executive

Weber Shandwick Square Mile                  020 7067 0720

Chris Lynch


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