Contract

28 Dec 2005 07:01

Corac Group Plc28 December 2005 For Immediate Release 28 December 2005 CORAC GROUP PLC FIRST CONTRACT FOR INDUSTRIAL AIR FUSION COMPRESSOR Corac Group plc ('Corac'), the intellectual property and licensing companyspecialising in compressor technology, is pleased to announce the first contractfor its innovative CS Fusion machine exhibited for the first time at theHannover Industrial Fair earlier this year. A major global player in the compressor industry has agreed a collaborativecontract with Corac, which will take its patented no-oil turbo compressor unitas a front end to a waterscrew compressor that is well established in themarket. The result will be a turbo charged compressor system, which gives morecubic metres of air and improved running efficiency for less capital expenditureand reduced lifetime costs. The terms of the contract and the party are subject to non-disclosure forcommercial reasons. Commenting on this contract win, Professor Gerry Musgrave, Executive Chairman,said: "This is the first contract for our industrial air compressor technology andfollows the recent success announced in our Joint Industry downhole gascompression programme. This new contract, which further validates ourtechnology, is expected to give access to significant and fast growing markets.We look forward to 2006 with confidence." For further information: Corac Group plc 01895 813463Prof. Gerry Musgrave, Executive Chairman Buchanan Communications 020 7466 5000Richard Darby, Ben Willey NOTES TO EDITORS Corac is an intellectual property, engineering and licensing group which holdsmany patents. It focuses on high speed electrical direct drive turbo machinerybased on its unique expertise in gas bearings. Corac has created an innovative 'no oil' turbo compressor together with a unique gas seal, and is part of a jointindustry programme for the downhole gas extraction industry. Further information on Corac is available on the internet at www.corac.co.uk This information is provided by RNS The company news service from the London Stock Exchange