Interim Management Statement

Embargoed: 0700 hrs 16 May 2011

Cape plc

("Cape" or the "Group")

Interim Management Statement and Annual Report and Accounts publication

Cape plc, the international provider of essential, non-mechanical support services to the energy and mineral resources sectors, today provides its Interim Management Statement for the year to date.

Trading

The Group is pleased to confirm that overall trading has been in line with the Board's expectations, with activity levels and operating margins consistent with the same period in the prior year. Regional/segmental activity levels were as anticipated, with the CIS/Mediterranean & North Africa region and Far East/Pacific Rim region both ahead of the same period in 2010, offsetting the continued lower activity levels in the Gulf/Middle East region.

Corporate expenses

As expected, £3.5m of non-recurring corporate charges have been incurred in the year to date comprising £2m in relation to the move from AIM to the LSE's main market and the corporate restructuring involving a new Jersey-incorporated Group holding company (announced with the preliminary results on 2 March 2011) and a £1.5m charge representing the unamortised facility fees arising on the early cancellation of the Group's 2007 syndicated bank facility.

Financial position

There have been no significant changes to the financial position of the Group since the publication of its preliminary results for the financial year ended 31 December 2010 on 2 March 2011. As announced on 6 January 2011, the Group's new £220m bank facility through to June 2015 provides a strong financial platform and the flexibility to support future growth.

Chairman

As announced on 3 May 2011, Tim Eggar, former Minister for Energy, was appointed Non-Executive Chairman on 1 May 2011.

Outlook*

As reported with the preliminary results on 2 March 2011, the Board continues to expect demand for Cape's construction support services to commence a sustained period of growth from the second half of this year. The Group's order intake in the first four months supports this with contract wins in the Gulf/Middle East including extensive packages on the Jubail Export Refinery, Ruwais Refinery 4th NGL train, Habshan 5 and Borouge III projects all expected to commence in the final quarter of 2011 or early 2012.

In the Far East/Pacific Rim region several major LNG liquefaction plant projects are moving forward and the Board anticipates demand for construction support services in the region to commence a period of strong growth.

The Group expects to announce its interim results for the six months ending 30 June 2011 on Wednesday 31 August 2011.

Annual Report and Accounts

The Annual Report and Accounts of Cape for the year ended 31 December 2010 are today being placed on Cape's website at www.capeplc.com and will be mailed to shareholders today. Copies will be available free of charge from Cape's registered office at 9 The Square, Stockley Park, Uxbridge, Middlesex UB11 1FW for a period of at least one month.

Enquiries:

Forward looking statements

Any forward looking statements made in this document represent the Board's best judgment as to what may occur in the future. However, the Group's actual results for the current and future fiscal periods and corporate developments will depend on a number of economic, competitive and other factors, some of which will be outside the control of the Group. Such factors could cause the Group's actual results for future periods to differ materially from those expressed in any forward looking statements included in this announcement.

* The 'Outlook' section above of this Interim Management Statement supersedes all previous guidance given by Cape regarding earnings growth.

About Cape:

Cape plc (www.capeplc.com), which is quoted on AIM (CIU), provides a range of non-mechanical industrial services including access systems, insulation, painting, coatings, blasting, industrial cleaning, training and assessment to both industrial plant operators and major international engineering and construction companies.

As a single source provider, Cape is able to provide a range of specialist multi-disciplinary services specifically tailored to meet the needs of the client providing the most intelligent and cost efficient solutions for our customers non-mechanical in-plant maintenance and capital needs.

In the year ended 31 December 2010, Cape reported revenues of £650.1 million. With scale and leading market positions across its international footprint, Cape employs over 18,000 people in 29 countries.