Interim Management Statement

27 April 2010

LAIRD PLC ("LAIRD")

Interim Management Statement

Laird, a focused electronics and technology company, and, a leader in the design and supply of performance critical components and systems for the wireless and other advanced electronics applications, today announces its Interim Management Statement for the period from 1 January 2010 to 27 April 2010.

The majority of our markets are showing a progressive recovery from the depressed conditions of 2009 and, as expected, Laird produced underlying profit before tax ahead of the corresponding period last year.

Overall, performance in the year to date has been consistent with our expectations as set out in our Full Year Results in March, and we have seen a continuation of the trends experienced in the second half of 2009.

Total revenues in the first quarter of 2010 were broadly flat in US$ terms, and down 10% in Sterling. The relative growth in our higher margin divisions, together with the overall benefits from the cost reduction actions we took in 2009, have resulted in our operating margin, before interest and tax, being in excess of 6% in the quarter, higher than in the first quarter of 2009.

In our Performance Materials Division, revenues in US$ in the first quarter of 2010 were approximately 30% ahead of those in the corresponding period in 2009. We have seen increased demand for our products across our key markets of IT, telecom and datacom and the consumer electronics markets, and we believe we have been successful in growing the revenues of this division in excess of the underlying market growth through new customer and programme wins and the benefits of new product introductions.

In our Handset Products Division, revenues in US$ in the first quarter of 2010 were approximately 30% below those in the corresponding period in 2009. The reduction in revenues was largely due to the impact of a change in the sourcing strategy by a major customer, as well as lower antennae average selling prices, predominantly due to changes in the product mix; both of these factors were disclosed in our 2009 preliminary results statement. We are beginning to see the benefits of broadening the Division's customer base, with further benefits expected in the second half of the year as a result of new product launches.

In our Wireless Systems Division, revenues in US$ in the first quarter of 2010 were approximately 40% above those in the corresponding period in 2009. We have seen a strong recovery in sales into the automotive markets for our antennae products and sub-systems, reflecting both the recovery in the US automotive market from the turbulent conditions in 2009, as well as from the benefits of new customer and programme wins. Although the recovery in our infrastructure antennae product lines has been more measured, we are now seeing evidence of improving demand.

The payment of the 2009 interim dividend in January 2010, the funding of restructuring costs provided for in 2009 and exchange rate movements have contributed to an increase in net borrowings since the 2009 year end. Our financial position remains strong, and largely unchanged from that at the time of our Preliminary Results announcement on 10 March 2010.

We are expanding our customer base and our businesses are continuing to develop new families of products. Our Performance Materials and Wireless Systems Divisions have both developed a healthy momentum, which we expect to continue, while conditions in our Handset Products Division are expected to remain challenging for the first half of 2010, before experiencing some improvement during the second half. We believe that, as the year progresses, we will be able to continue to demonstrate improving performance compared with 2009.

For enquiries:

Laird PLC:

Peter Hill, Chief Executive

Jonathan Silver, Finance Director

Tel: 020 7468 4040

Maitland:

Brian Hudspith

Charlotte Walsh

Tel: 020 7379 5151