Update on Trading and Contract Wins

15 October 2014

MORTICE LIMITED

("Mortice" or the "Company")

Update on Trading and Contract Wins

Mortice Limited, (AIM:MORT), the AIM listed security and facilities management company with India focused operations, is pleased to announce that in the period commencing 1 April 2014 to 30 September 2014 (the "Period"), the Company has won 150 new contracts across its subsidiaries, Peregrine Guarding Private Limited ("Peregrine"), Tenon Property Services Private Limited ("Tenon"), Rotopower Projects Private Limited ("Rotopower") and its new division Tenon Property Services (Lanka) Private Limited ("Tenon Lanka") collectively worth approximately USD 4.7 million (INR 286 million*) per year. In comparison to the six month period ended 31st March 2014, the number of contracts won by the Company has increased by 39%.

Peregrine

During the Period, Peregrine, the Company's security services subsidiary, won 110 new contracts worth approximately USD 3.4 million (INR 209 million*) per year for the provision of security services across India. The directors believe that, this further exemplifies Peregrine's ability to deliver high service standards across diverse sectors, such as telecoms, hospitality, retail, financial services, energy, media, manufacturing, IT/ITES and business process outsourcing. Peregrine's new key clients include four major telecom companies, one major ITES business, three leading financial institutions, one BPO company,a retail mall complex, three power companies, two real estate companies, one health care and one major logistics company.

Tenon

Tenon, the Company's facilities management arm, was awarded 21 new contracts worth approximately USD 0.8 million (INR 46 million*) per year during the Period. Under these contracts Tenon will be providing facilities management services for clients including a major power and steel company, one major IT service company, a major telecom company, a major real estate company and a major hospitality company.

The directors believe that the quality of services provided by Tenon is likely to attract more clients going forward, increasing its future business prospects.

Tenon Sri Lanka

During the Period Tenon Lanka has commenced its operations in Sri Lanka and has won 3 facility Management contracts with annualized turnovers of USD 0.04 million (INR 2.4 million). This includes providing services to one major health care unit and an IT/ITES company.

Rotopower

During the Period, Rotopower, the Company's mechanical and engineering services subsidiary was awarded 16 contracts valued at approximately USD 0.50 million (INR 29 million*) per year for delivery of technical and other facilities services. Rotopower's new clients include six major names from the ITES sector, a major financial institution and a leading telecom service provider.

Soteria Command Centre

Soteria Command Centre was launched in partnership with IBM earlier this year and is now offering its services to its clients with multiple price propositions. Soteria is working towards ramping up its customer base, and has already successfully executed services at a major sporting event. Soteria is capable of providing real time proactive security solutions to its clients using "state of art" technology.

Manjit Rajain, Executive Chairman, commented:

"We believe that the economic conditions are now improving significantly and will provide growth opportunities for Mortice going forwards. The group's expansion plans in India and other countries such as Sri Lanka and Saudi Arabia are likely to contribute positively to the overall growth of the Group."

*Exchange rate of 1 USD = INR 61.15 as on 13th October 2014 (Source - www.xe.com)