(MORT.L) Mortice Ltd Buy/Sell

RNS Number : 3957A Mortice Limited 07 October 2009

Press Release 7 October 2009

MORTICE LIMITED

("Mortice" or "the Company")

Update on Trading and Contract Wins

Mortice Limited, (AIM:MORT), the India based security and facilities management company, is pleased to announce that in the four month period since its previous trading update on 8 June 2009, the Company has won 38 new contracts across its subsidiaries, including Peregrine Guarding Private Limited ("Peregrine"), Tenon Property Services Limited ("Tenon") and the recently acquired Rotopower Projects Private Limited ("Rotopower"), collectively worth GBP 292,550 (INR 21.79 million*) per month. In addition, Tenon Project Services, another subsidiary of the Company, has been awarded contracts worth a combined value of GBP 203,960 (INR 15.19 million*) to be delivered over the next few months.

Peregrine

Peregrine, the established security services company, has won 23 new contracts for the provision of security services in India, illustrating its ability to deliver high service standards across diverse sectors including hospitality, retail, financial services, energy, media and manufacturing, IT/ITES and Business Process Outsourcing. Key clients include a major Indian insurance company, an international automobile brand, one of India's most high profile emerging retail company and two multinational banks.

Tenon

Tenon, the Company's facilities management arm, has been awarded 9 new contracts, which include a mix of new customers and new facility management contracts from existing clients. These include a leading global investment services firm, a life insurance services company, a leading Indian bank and an Indian IT services company. The high levels of service provided to Tenon's customers has resulted in an increased in business from the existing client base, which accounts for 19% of overall growth in Tenon's monthly billing. Tenon's proven ability to ensure provision of high standard facilities across India including remote locations, has resulted in the award of a contract spanning 115 facilities across East India for an insurance company.

Rotopower

The acquisition of Rotopower, a facilities management company based in Delhi, was completed on 22 June 2009. In the period under review, Rotopower was awarded 6 contracts valued at GBP 26,800 (INR 2 million*) per month for delivery of technical and other facilities services, several of which are in the telecom sector, where Rotopower is one of the leading FM service providers.

Manjit Rajain, Executive Chairman, commented:

"We are delighted that our reputation of providing the highest standards of service delivery and our focus on customer satisfaction has delivered strong organic growth across the group. We have focused on building a national service delivery platform to increase our reach and this has resulted in new, exciting contracts with innovative service structures and capability requirements.. In addition, we are very pleased with the progress Rotopower has made since our acquisition of the company as it cements its position as a leader in the telecom sector in particular."