Interim Management Statement

27 October 2010

Laird PLC

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 wireless and other advanced electronics applications, today announces its Interim Management Statement for the period from 1 July 2010 to 27 October 2010.

The majority of our markets continued to show a recovery from the depressed conditions in 2009 and, as expected, performance in the third quarter of 2010 was significantly ahead of the corresponding period last year.

Total revenues in the third quarter of 2010 were £141 million. Excluding Handset Mechanisms, where we announced in July the exit from this product line, revenue growth in the quarter was up 16% compared with the third quarter of 2009 (in US$: up 10%). The higher revenues combined with continuing control of costs resulted in the operating margin percentage in the quarter approaching double digits.

Overall, performance in the year to date has been consistent with our expectations as set out in our Interim Results statement in July, and significantly better than in the first nine months of 2009.

In our Performance Materials Division*, revenues in the third quarter of 2010 were £54 million, up 15% on the same period in 2009 (in US$: up 10%). While our EMI and Thermal product lines saw a lower level of growth in some of its market segments in the first part of the third quarter, order intake and revenues returned to expected levels by the end of the quarter. Other market segments, and our Signal Integrity product line as a whole, performed strongly.

In our Handset Products Division*, revenues in the third quarter of 2010 were £55 million, down 10% (in US$: down 16%) on the same period in 2009. Excluding Mechanisms, revenues were up 5% (in US$: down 2%), with growth in Handset Metals offsetting, as expected, a decline in Antennae Systems' revenue as a result of lower average selling prices for less complex products, despite an increase in unit volumes. The diversification of our customer base, our penetration of the new "tablet" market, and our increasingly strong position in the "smartphone" segment, all benefited the Division's performance.

In our Wireless Systems Division, revenues in the third quarter of 2010 were £32 million, up 44% (in US$: up 37%) on the same period in 2009. Our Telematics and "Machine to Machine" wireless modules product lines performed particularly strongly, while our Infrastructure Antennae Systems product lines continued to show a progressive recovery during the quarter.

Net borrowings at 30 September 2010 were, as expected in the light of higher activity, slightly higher than at 30 June 2010. Our financial position remains strong, and largely unchanged from that at the time of our Interim Results Announcement.

We are seeing the benefits from an improvement in our end user markets, from the diversification of our customer base, from new product developments, and from the restructuring actions we have taken. As a result, we expect to make further progress during the fourth quarter.