Trading Statement & Directorate Change

Embargoed: 0700hrs, 6 January 2011

Cape plc

("Cape" or the "Group")

Trading Statement

&

Directorate Change

Cape plc, the international provider of essential, non-mechanical industrial services principally to the energy and mineral resources sectors, is pleased to confirm that trading in the year to 31 December 2010 was in line with expectations.

As anticipated, the Group's overall activity and revenue levels have remained broadly consistent with the prior year. Cape has continued to benefit from its international footprint across strategically important growth markets within the energy sector. On a regional basis, the pattern seen in the first half of 2010 continued through the rest of the year with higher activity levels in the Far East/Pacific Rim region offsetting the expected lower activity levels in the Gulf/Middle East and UK regions.

Cash generation has again been strong with net debt expected to have halved in the year to less than £57m at the year end.

The Group is also pleased to announce that it has successfully refinanced its banking facilities on favourable terms through to June 2015. The new £220m syndicated credit facility with Lloyds Banking Group, Barclays Bank, National Australia Bank and HSBC, acting as joint mandated lead arrangers, provides Cape with a strong financial platform and the flexibility to support future growth.

Looking forward, the board continues to expect a return to sustained organic revenue growth from the second half of 2011, as capital expenditure in the global energy sector begins to increase.

Preliminary results for the twelve months ended 31 December 2010 will be published on 2 March 2011.

Directorate changes

Cape is pleased to announce the appointment of Michael Merton as a non-executive director of Cape with effect from 10 January 2011.

Michael is a Chartered Accountant with significant experience in the international resources industry, having spent the majority of his executive career at Rio Tinto, where he held senior operational roles around the world, including Head of Global Business Services from 2005 to 2009, and was a member of the Executive Committee. Michael is currently a non-executive director of BlackRock Commodities Income Investment Trust plc, and a trustee of the Rio Tinto Pension Fund and the HALO Trust. Full details pertaining to the appointment of Michael Merton appear at the foot of this announcement.

David Robins, currently the Senior Independent Director and Chairman of the Audit Committee, has advised the Board of his intention to step down from the Cape Board with effect from the publication of the Company's preliminary results on 2 March 2011. David Robins has been a non-executive director of Cape since 2006 and the Board would like to place on record its thanks to David for his contribution during this period of considerable growth for Cape.

- Ends -

Enquiries:-

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.

AIM Rules disclosure under Schedule 2(g) of the AIM Rules regarding the appointment of Michael Merton:

There is no other information that is required to be disclosed with regards to the appointment of Michael Ralph Merton, aged 59, pursuant to Schedule 2 paragraph (g) of the AIM Rules, save as set out below:

Current directorships

Blackrock Commodities Income Investment Trust plc

Blackrock Commodities Securities Income Company Limited

Rio Tinto Pension Fund Trustees Limited

The HALO Trust

Previous directorships within the past five years

Austral Development Limited

Quadrem International Holdings Ltd

Rio Tinto Indonesia Limited

Rio Tinto Indonesian Finance Limited

Rio Tinto Indonesian Investments Limited

Western Properties Limited

59-75 (Odd) Onslow Square Freehold Limited