Trading Statement

XP Power PLC
11 June 2004

Embargoed until 0700                                               11 June 2004

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

                                  Trading Update

XP, one of the world's leading providers of power supply solutions to the
mid-tier of the electronics industry, is today issuing a pre-close period update
on trading in advance of its interim results.

The Group has continued to see returning confidence from its customer base. The
US market in general shows signs of improvement and in particular, the
communications and semiconductor manufacturing equipment sectors are showing
growth. XP is focusing more of its resource on targeting the top customers in
its four key markets, industrial, communications, medical and defence, where the
Group is able to provide genuine value by solving their power supply problems.

For the period from January to May 2004, the proportion of 'XP' branded product
in the sales mix has continued to improve, enabling the Group to continue the
upward trend in gross margin from the 33.5% figure achieved in the last
financial year. If the current trends in the mix of business continue, XP should
be in a position to achieve gross margins in 2004 that are approximately one and
a half percentage points higher than those achieved in 2003.

The average US Dollar to Sterling exchange rate for the 5 months to May 2004 has
weakened by approximately 10% from the average rate of $1.62 that was applicable
to the Group in 2003. This has had a detrimental effect on the translation of
the Group's US Dollar earnings into Sterling for reporting purposes. Despite
this translation effect, the Group considers that the combination of an improved
gross margin and more buoyant current trading should enable XP to exceed current
market expectations for earnings for the 2004 financial year.

XP expects to announce its interim results for the six months ended 30 June 2004
on Tuesday, 3 August 2004.

                                    - Ends -
Enquiries:

XP Power plc                                                      0118 984 5515
Larry Tracey, Executive Chairman
James Peters, Deputy Chairman
Duncan Penny, Chief Executive Officer

Weber Shandwick Square Mile                                       020 7067 0700
Kevin Smith

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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