Petards

Update re. Possible Offer or Refinancing

04 June 2008

Further to the announcement made on 22 April 2008, concerning discussions with a number of parties concerning the potential sale of the Company and/or one of its divisions or, alternatively, a refinancing of the business by a third party, the Company confirms that discussions are continuing with an emphasis on a refinancing of the business.|

Preliminary results

Given the above continuing discussions regarding a possible refinancing or a potential sale of the business and/or one of its divisions, the Board now expects to announce its preliminary results for the year ended 31 December 2007 in the latter part of June and not in May as previously announced.

Trading update

Trading continues to be in line with that previously announced with the Company having traded well in the year to date and with net debt within projected levels.

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