Petards

Statement re. Possible Offer and Rule 2.10 announcement

22 April 2008

The Board of Petards announces that it is in 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. Such discussions may or may not lead to an offer being made for the Company or the acquisition of a division of the Company or a refinancing of the business.| The Board of Petards, which is being advised by Collins Stewart Europe Limited, wishes to stress that the approaches and the resulting discussions are at varying stages of advancement and there can be no certainty that any of the approaches will lead to an offer being made for the Company or the acquisition of any of its divisions or a refinancing of the business.

A further announcement will be made as and when appropriate.

In accordance with Rule 2.10 of the City Code on Takeovers and Mergers, the Company confirms that it has 636,706,423 ordinary shares of 1 pence each in issue.

The ISIN reference for these securities is GB0030040090.

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