Trading Update

Superglass Holdings Plc

 ('Superglass' or 'the Company')

Trading Update

Superglass Holdings PLC, the UK's leading independent manufacturer of glass wool mineral fibre insulation solutions, today releases a trading update. This statement also comprises the Interim Management Statement for the period from 28 February 2011 to date.

Within the interim results statement released on 28th April 2011, we reported that we had seen an upturn in CERT-related activity since the end of February. However, volatility in CERT-related volumes has had a major influence on the Company's performance since that statement. The Company's assessment of the wider market suggests that there is a significant and continuing aggregate shortfall in CERT-related installations.

Superglass has continued to win market share in other channels, but we continue to experience significant energy related input cost pressures which we are unable to pass on to customers. Together with some reduction in plant efficiency as a result of the variability in CERT-related volumes, these are impacting our margins. Management is taking all appropriate actions to manage controllable costs.

Whilst growth is still expected in turnover, we now expect to record only a modest adjusted profit before taxation (PBTA *) for the financial year.

Even at this much reduced level of profitability, Superglass continues to be strongly cash generative at the operating level. As a result, we remain covenant-compliant and continue to trade within the limits of our available bank facilities. Since the end of last year the Company has already agreed, in collaboration with its bankers, relaxations to the covenant structure and repayment profile of its debt facilities. Constructive discussions with the Company's bankers continue with a view to ensuring that the facilities remain appropriate to the Company's current operating performance.

The Government's CERT targets remain in place and a substantial increase in energy suppliers' activity is now required to achieve these targets by December 2012. We have also identified measures which we could take to improve our competitiveness if funding was available to us. However, in the absence of a sustained improvement in CERT-related activity, and resultant profitability and cash generation, it is clear that the Company's current facility structure does not provide the necessary headroom to permit capex investment to increase operating efficiency.

* PBTA - Profit before tax adjusted for the effect of amortisation of intangibles.

For further information, please contact:

Forward-looking statements

This announcement includes forward-looking statements. All statements other than statements of historical fact included within this announcement including, without limitation, those regarding Superglass' financial position, business strategy, plans and objectives of management for future operations, are forward-looking statements. In some cases, these forward-looking statements can be identified by the use of forward-looking terminology, including the terms 'believes', 'estimates', 'plans', 'prepares', 'anticipates', 'expects', 'intends', 'may', 'will' or 'should' or, in each case, their negative or other variations or comparable terminology. Investors should specifically consider the factors identified within this announcement which could cause actual results to differ before making an investment decision. Such forward-looking statements include known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based upon numerous assumptions as to Superglass' present and future business strategies and the environment in which the Company will operate in the future. These forward-looking statements speak only as at the date at which they are made. Save as required by the Takeover Panel, the FSA, The London Stock Exchange or applicable law, including, without limitation, the City Code, the Prospectus Rules, the Disclosure and Transparency Rules and the Listing Rules, Superglass expressly disclaims any responsibility to release publicly any updates or revisions to any forward-looking statement contained herein to reflect any change in expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.