Petards Regulatory News (PEG)

1 November 2010

Petards Group plc ("Petards")

Contract award

Petards, the AIM quoted developer of advanced security and surveillance systems, announces that Petards Joyce-Loebl has been awarded a contract that forms part of an upgrade to the air defence capability of an East Asian country.

The contract, worth in excess of £1m, has been awarded to Petards for the supply of new ruggedized equipment designed to interface with the customer's existing systems and will provide significant weight savings and improved performance over the obsolescent units currently in use. Delivery of the equipment is expected to be in the second half of 2011.

Commenting on the award, Petards Chief Executive Bill Conn said "We see this ability to provide innovative solutions to obsolescence issues as a key strength of Petards. In times of reducing budgets it allows customers to minimise through equipment life costs while maintaining or enhancing the capabilities of their systems. It is also particularly gratifying to see that we have the quality of products and credibility necessary to compete and win business from new export customers in this sector."

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