JOINT VENTURE WITH STATE OIL COMPANY OF AZERBAIJAN

For immediate release: 1 July 2010

CAPE PLC

("Cape" or the "Company")

CAPE ESTABLISHES JOINT VENTURE WITH STATE OIL COMPANY OF AZERBAIJAN

Cape plc, the international provider of essential, non-mechanical industrial services principally to the energy and mineral resources sectors, is pleased to announce the establishment of a Joint Venture with the State Oil Company of Azerbaijan (SOCAR). The SOCAR-Cape JV, owned 51% by SOCAR and 49% by Cape, will pursue opportunities associated with the future development of the oil and gas sector in Azerbaijan.

The agreement was signed in Baku on 30 June 2010 by SOCAR President Rovnag Abdullayev and Cape's regional director for CIS, Mediterranean and North Africa, Guy Rackham.

Cape has been established in the central Asian Republic of Azerbaijan for over ten years, both directly and through its acquisition of PCH in 2007. The SOCAR-Cape JV will have the resources to meet the expected increased demand for Cape's specialist non-mechanical services including access and insulation. The Company believes there will be significant opportunities in the coming years arising from new projects, maintenance and shutdown activities relating to the continued development of the Azeri-Chirag-Guneshli oil project and Shah Deniz gas condensate development project.

The establishment of this joint venture is in line with SOCAR'S strategy of partnering with key contractors.

Martin May, Chief Executive of Cape plc, commented,

"We are delighted that SOCAR has chosen to enter into this joint venture with Cape. Azerbaijan is a key country for the growth of Cape's CIS business owing to its large oil and gas deposits and the significant investment in the region. A partnership with the State oil company provides Cape with high level access to major projects that will require our services. This is an exciting opportunity."

For further information please contact:

Cape plc

Martin May, Chief Executive Officer

Richard Bingham, Chief Financial Officer

Tel. +44 (0)20 3178 5498

Numis Securities Limited

Nominated Adviser: John Harrison, Managing Director Corporate Finance

Corporate Broker: James Serjeant, Director Corporate Broking

Tel. +44 (0)20 7260 1000

Merrill Lynch International

Andrew Tusa, Managing Director Corporate Broking Europe

Tel. +44 (0)20 7628 1000

M: Communications

Patrick d'Ancona or Ben Simons

Tel. +44 (0)20 7920 2340

About Cape:

Cape plc (www.capeplc.com), which is listed 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 2009, Cape reported revenues of £655.1 million. With scale and leading market positions across its international footprint Cape employs over 17,000 people in 28 countries and safely delivered over 41 million man hours in 2009.