Acquisition of shares in Thrane & Thrane

For Immediate Release

5 April 2012

Cobham announces acquisition of shares in Thrane & Thrane

Cobham ("Cobham" or the "Group") announced on 12 March 2012 that it had withdrawn its proposal to the Board of Thrane & Thrane A/S ("Thrane & Thrane") regarding a possible recommended offer for Thrane & Thrane at a price of DKK420 per share in cash, as the Board of Thrane & Thrane felt unable to recommend its proposal. Cobham reserved the right to reconsider its position at any time.

In that announcement Cobham commented that its strategy is to build market leadership positions in its strategic business units, by investing in technology. SATCOM is one such technology and Thrane & Thrane remains an attractive potential partner. Cobham has therefore continued to follow events at Thrane & Thrane with interest.

Following the resignation with immediate effect of the Chairman of Thrane & Thrane on 26 March 2012, a number of institutional investors have expressed an interest in selling their shareholdings in Thrane & Thrane.

This has resulted in the purchase today by Cobham from Jupiter Asset Management Limited and other institutional shareholders of 1,292,110 shares at a price of DKK420 per share in cash, representing approximately 22.74 percent of the issued share capital of Thrane & Thrane.

Cobham has notified the Board of Thrane & Thrane that, taken together with market purchases, it now owns 1,453,795 shares, representing approximately 25.6 percent of the issued share capital of Thrane & Thrane.

Cobham is continuing to consider all options available to it in relation to Thrane & Thrane.

Investor Call

There will be a dial-in investor conference call at 10:00 BST (11:00am CET) on 10 April 2012. Dial in details:

·; UK Free Call 0800 073 1806

·; UK Standard International +44 (0) 1452 561 263

·; USA Free Call 1866 223 0502

·; Conference ID 69905266

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Contacts:

About Cobham

Cobham specialises in meeting the insatiable demand for data, connectivity and bandwidth in defence, security and commercial environments. Offering a technically diverse and innovative range of technologies and services, the Group protects lives and livelihoods, responding to customer needs with agility that differentiates it. Employing more than 10,000 people on five continents, the Group has customers and partners in over 100 countries, investing some £70m/DKK600m a year in market-led product development.

The Group's strategy is to build and maintain top three market positions in selected higher growth, high technology markets such as satellite communications (SATCOM). Cobham is the leader in stabilised marine satellite antennas and very-small-aperture terminals (VSATs). It also a leading provider of L band antennas and modems for business jets using Inmarsat's services, and a provider of many other Ku, Ka, X and C band SATCOM antennas for land-based use.

Cobham has successfully acquired nearly 50 companies in the last decade, including marine SATCOM business SeaTel, acquired in 2003, which has since doubled both its revenue and R&D investment. Land SATCOM business TracStar, acquired in 2005 has grown by 60% since joining Cobham.

Cobham has conducted business in Denmark for more than 20 years, providing slip rings to wind turbines, communications antennas and pilot oxygen systems for Danish F-16s. In 2004, the Group acquired Danish company Spectronic, based in Grenaa, a world leading provider of high-quality covert audio and video surveillance solutions, with revenue doubling since acquisition.