Withdrawals Proposal to Thrane & Thrane A/S

For Immediate Release

12 March 2012

COBHAM PLC ("Cobham")

Thrane & Thrane A/S ("Thrane & Thrane" or the "Company")

Cobham confirms that it has been in discussion over the last year with the Board of Thrane & Thrane with a view to making a recommended offer for the Company. Its proposal, submitted to Thrane & Thrane on 8 February 2012, was at a price of DKK420 per share in cash valuing the entire currently issued share capital of the Company on a fully diluted basisat approximately DKK2,418m (£273m).

The making of such an offer was conditional only on its recommendation by the majority of the Board of Thrane & Thrane and on the Board's agreement to provide customary support in order to implement the tender offer process. The potential offer would have been subject to the standard terms and conditions for such an offer, but with an acceptance condition of only 50.01 per cent of the shares in Thrane & Thrane.

Cobham's strategy is to build market leadership positions in its strategic business units by investing in technology, particularly with exposure to commercial market segments, and it has identified Thrane & Thrane as one such potential target. Cobham believes there would be significant benefits from a combination of its SATCOM business with Thrane & Thrane. Cobham's proposal envisages that Thrane & Thrane would continue to be run by its current management team in Denmark. It would become one of Cobham's principal global businesses and a focus for future investment.

Cobham was therefore disappointed to note that the Board of Thrane & Thrane has felt unable to recommend its proposal. Cobham has therefore decided to withdraw its proposal to make an offer for Thrane & Thrane.

Cobham reserves the right to reconsider its position at any time.

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About Cobham

Cobham specialises in meeting the almost insatiable demand for data, connectivity and bandwidth in defence, security and commercial environments. Offering a technically diverse and innovative range of technologies and services, the Group protects lives and livelihoods, responding to customer needs with agility that differentiates it. The most important thing we build is trust. Employing more than 10,000 people on five continents, the Group has customers and partners in over 100 countries.