Contract Loss

2 November 2012

Tricorn Group Plc 

("Tricorn" or the "Group")

Contract Loss

Tricorn Group plc (AIM:TCN.L), the AIM listed tube manipulation specialist, announces that it has been informed that Rolls-Royce is not intending to renew or extend the supply agreement with its subsidiary, RMDG Aerospace, that expires on 31st December 2012.

The supply agreement relates to the ongoing supply of pipe assemblies and accounted for approximately 11% of the Group's revenue as reported in its financial statements for the year ended 31 March 2012.

Mike Welburn, Chief Executive of Tricorn, commented:

"We are extremely disappointed to be advised of this decision. We have continued to improve operational performance within the business and remain committed to the aerospace sector. We have a healthy pipeline of new opportunities and will be working hard to replace this lost volume as quickly as possible."

The impact of this contract loss on full year earnings is under evaluation at present and the Group will provide a further update at the time of the release of its unaudited interim results for the six months ended 30 September 2012, which is expected to be on 3 December 2012.

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Notes to Editors:

Tricorn is a value added manufacturer and specialist manipulator of pipe and tubing assemblies to niche markets worldwide in the Energy & Utilities, Transportation and Aerospace sectors.

Headquartered in Malvern, UK, Tricorn employs around 300 employees and operates through four brands: MTC; Redman Fittings; Maxpower and RMDG Aerospace.