Contract Win - GDF Britain

RNS Number:8298F
Plexus Holdings Plc
17 October 2007

Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services

17th October 2007

                Plexus Holdings PLC ('Plexus' or 'the Company')

               Wins #700,000 HP/HT contract with GDF Britain Ltd


Plexus Holdings PLC, the AIM quoted oil and gas engineering services business,
has agreed with GDF Britain Ltd ('GDFB'), subject to completion of relevant
contract terms, to supply the Company's proprietary POS-GRIP(R) wellhead system
for use in the North Sea.  This agreement marks a continuing relationship
between the two companies, which Plexus hopes to build further upon in the
future. The immediate value of the contract is circa #700,000, with revenues
commencing in July 2008, the first quarter of the Company's next financial year
2008/2009.


Plexus will supply GDFB with its POS-GRIP High Pressure/High Temperature 
("HP/HT") exploration rental wellhead equipment and service support. GDFB will
utilise the POS-GRIP technology for its 'Tesla' exploration well, being drilled
in the Central Graben region of the North Sea using a 15,000 psi, HP/HT 18.75
inch single stack surface wellhead system.  The Directors are hopeful that
further equipment will be supplied to GDFB for additional exploration wells in
the future.


Plexus CEO Ben van Bilderbeek said: "Plexus is delighted to extend its working
relationship with GDFB to include for the first time HP/HT equipment in addition
to our standard/minimal wellhead technology.  It is Plexus' key objective to
continue to develop its POS-GRIP technology to make it the industry wellhead
standard, recognised for its technical performance and safety benefits within
the oil and gas arena. It is fundamental, in order for Plexus to achieve this,
that strong relationships are formed and maintained with the leading oil and gas
majors. This important contract for Plexus demonstrates the Company is
continuing to succeed in gaining increased industry recognition. We fully expect
to build upon our successes and secure further contract wins with international
majors, and in turn enhance shareholder value."



                                  * * ENDS * *



For further information please visit www.posgrip.com or contact:

Ben van Bilderbeek      Plexus Holdings PLC                  Tel: [phone]
Graham Stevens          Plexus Holdings PLC                  Tel: [phone]
Elizabeth Kennedy       Brewin Dolphin                       Tel: [phone]
Felicity Edwards        St Brides Media & Finance Ltd        Tel: [phone]
Isabel Crossley         St Brides Media & Finance Ltd        Tel: [phone]



Notes

Plexus Holdings PLC

Plexus, which began trading on AIM in December 2005, is an established oil and
gas engineering, and services business based in Aberdeen, with an office in
London and a presence in Houston, Texas. It has developed and patented a method
of engineering for oil and gas field wellheads and connectors, POS-GRIP, which
involves deforming one tubular member against another to effect gripping and
sealing.


POS-GRIP wellhead systems have to date been used in over 100 oil and gas wells
by international companies including BHP Billiton, BP, Brunei Shell Petroleum,
ConocoPhillips, Gaz de France, Global Santa Fe, Maersk, Petro-Canada Trinidad &
Tobago, Repsol, Talisman Energy, Tullow Oil, and Wintershall.


The Company plans to accelerate the roll out of POS-GRIP technology as a
superior alternative to current wellhead technology. It has particular
advantages in HP/HT oil and gas environments for which there is increasing
demand throughout the world. The Company's long-term goal is to develop POS-GRIP
technology as the future industry standard for wellhead design. This objective
includes the distribution of POS-GRIP technology through licensees to maximise
market penetration.









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