Petards

Termination of Offer Period

09 December 2008

Following the Company's previous announcements in relation to the discussions held with a number of parties concerning the potential sale of part or all of the Company or a potential refinancing, the Company wishes to confirm that it is no longer in discussions with any party in relation to a sale of part or all of the Company and therefore is no longer in an offer period for the purposes of the Takeover Code.|

The Company is confident of securing extended financing facilities from its bankers and expects to make an announcement in relation to this in the near future following which it expects to be in a position to publish its results for the year ended 31 December 2007, and its interim results for the 6 months ended 30 June 2008

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