Acquisition

XP Power PLC
26 February 2004

FOR IMMEDIATE RELEASE                                         26 February 2004



                                  XP Power plc
                             ('XP' or the 'Group')

 Acquisitions of the Remaining Issued Share Capital of XP Electronics Limited &
                  the Minority Interest in XP Power Sweden AB

XP today announces that it has acquired the remaining 80% of the issued share
capital of XP Electronics Limited which it did not already own for £930,000. The
consideration was comprised of £838,000 in cash and £92,000 in shares plus
related expenses.

XP also announces that it has purchased the 20% minority interest in its Swedish
subsidiary XP Power Sweden AB in exchange for 5,600 shares in XP Power plc.

XP Electronics Limited is a designer and manufacturer of industrial power
supplies based in Sawbridgeworth, Hertfordshire. In 2001 XP acquired 20% of the
issued share capital of Zicon Electronics Limited and the company subsequently
changed its name to XP Electronics Limited. Since that time the majority of XP
Electronics' revenues of £1.5 million have been derived through XP Power.

XP Electronics has an excellent design engineering team and capability for low
to medium production runs in the UK. The design team will become an integrated
part of XP's product development team and will be focused on providing new
standard products that can be manufactured in the Far East by XP's existing
manufacturing partners for volume applications. At the same time lower volume
production runs and modified standard product will continue to be manufactured
in Sawbridgeworth.

For the year ended 31 December 2003, XP Electronics Limited had an unaudited
profit after tax of £79,000. The net assets acquired are expected to have fair
value of approximately £600,000 of which approximately £250,000 is expected to
be cash.

The Directors of XP believe that the key reasons for and benefits of the
acquisition are:

   • Expansion of the Group's own proprietary power supply product range;
   • Addition of a low to medium volume manufacturing capability in the UK;
   • Capability to produce modified standard products within extremely short
    lead times; and
   • Expansion of the Group's design engineering team to enhance future
    product development of standard products.

Executive Chairman, Larry Tracey, commented, 'Today's acquisition is a further
move up the value chain. XP Electronics will help our continued expansion of the
IP content within our product portfolio'.

                                     -ends-

Enquiries:

XP Power plc - www.xppower.com

Larry Tracey, Executive Chairman                          0118 984 5515
James Peters, Deputy Chairman
Duncan Penny, Chief Executive

Weber Shandwick Square Mile                               020 7067 0700
Kevin Smith or Christian Taylor-Wilkinson


Notes to editors:

XP Power plc, formerly IFX Power plc, provides power supply solutions to the
mid-tier market of the electronics industry.

All electronic equipment needs a power supply. Power supplies convert the
incoming AC supply into various levels of DC voltages to drive electronic
components and sub-assemblies within the end user's equipment. By servicing this
market XP Power provides investors with access to technology and industrial
markets through its 8,000 strong customers in the profitable, high margin,
mid-tier sector of the North American and European markets.

The mid-tier of the market is highly fragmented and made up of a large number of
small to medium sized Original Equipment Manufacturers who source standard and
modified standard power supplies from several hundred power supply companies.

For further information, please visit www.xppower.com




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