MORT.L Regulatory News (MORT)

16 December 2010

MORTICE LIMITED

("Mortice" or the "Company")

Update on Trading and Contract Wins

Mortice Limited, (AIM:MORT), the AIM listed, Indian based, security and facilities management company, is pleased to announce that in the period commencing 21 June 2010 to 30 November 2010 (the "Period"), the Company has won 114 new contracts across its subsidiaries, Peregrine Guarding Private Limited ("Peregrine"), Tenon Property Services Limited ("Tenon") and Rotopower Projects Private Limited ("Rotopower"), collectively worth approximately USD 10.0 million (INR 450 million*) per annum. In comparison to the six month period ended 30 June 2010, the number of contracts won by the Company has increased by 50%.

Peregrine  

During the Period, Peregrine, the Company's security services subsidiary, has won 82 new contracts worth approximately USD 7.0 million (INR 315 million*) per year for the provision of security services across India. The directors believe that, this further exemplifies Peregrine's ability to deliver high service standards across diverse sectors, such as telecoms, hospitality, retail, financial services, energy, media, manufacturing, IT/ITES and business process outsourcing. Peregrine's key clients include four major telecom companies, nine major ITES businesses, three major financial institutions, two international automobile brands, one of India's leading commercial real estate developers and two major from the hospitality companies.

Tenon

Tenon, the Company's facilities management arm, was also awarded 19 new contracts worth approximately USD 1.4 million (INR 65 million*) per year during the Period. Under these contracts Tenon will be providing facilities management services for clients including a leading commercial real estate firm, an international automobile manufacturing company, two major IT service companies, a major Insurance company and a major entertainment company. The directors believe that the high level of services provided to Tenon's customers, and its coverage across the Indian network has increased the attractiveness of the Tenon model to the market.

Rotopower  

During the period, Rotopower, the Company's facilities management company based in Delhi was awarded 13 contracts valued at approximately USD 1.5 million (INR 69 million*) per year for delivery of technical and other facilities services. Rotopower's new clients include a major commercial real estate firm, six major names from the ITES sector, a major financial institution and a leading telecom service provider.

Manjit Rajain, Executive Chairman, commented:

 "We always believed that Mortice will be the key beneficiary of the resurge in Indian economy, our recent business performance is a reflection of that. With an increasingly encouraging outlook for growth in India, the directors believe the Company will continue to expand."

Vaibhav Dayal, Chief Executive Officer, commented:

"The value of business we have won in the last five months is more than double the business we gained in the previous six months. The service delivery platform that we have built across the guarding and facilities management services will ensure that Mortice's business will continue to flourish."

*Exchange rate of 1 USD = INR 44.920 as on 13 December 2010 (Source - www.xe.com)

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Note to Editors

 Mortice Limited, the India based security and facilities Management Company incorporated in Singapore, listed on AIM in May 2008 is the holding company of Peregrine Guarding Private Limited (Peregrine), Tenon Property Services Private Limited (Tenon) (together referred to as the "Group") and Rotopower Projects Private Limited, an Indian Facilities Management company based in Delhi, which was acquired by the Group in June 2009.

 Peregrine has been providing security services in India for 15 years, establishing a client base all over India and developing a strong pan-India presence providing manned guarding in the process.

Peregrine has its presence in 28 Indian states and has clients in a range of sectors including ITES, manufacturing, pharmaceutical, banking and healthcare.

 Tenon and Rotopower together constitute the facilities management service offering of Mortice to the market. Tenon, the facilities management arm of Mortice, was established to provide superior quality facilities management services. Tenon today operates in 19 Indian states and serves clients across India with a comprehensive and sophisticated service offering to the market.

 Rotopower was established 15 years ago and now serves in 28 states/union territories in India. It provides a range of facilities management services that include mechanical and electrical maintenance services, annual maintenance contracts and housekeeping services to a wide range of customers. Rotopower also provides services to telecom tower companies for the maintenance and running of electrical equipment.