Statement re loss of IPC magazine contract

2 March 2010

           St Ives plc - loss of contract for IPC's magazine titles            

We have been informed by IPC that they will not be renewing the contract for
the magazine titles we currently produce for them when the contract comes up
for renewal at the end of June 2010. The contract is currently fulfilled across
our factories in Plymouth, Peterborough and Roche and represents approximately
3% of our annual group revenue.

The market for magazine manufacture continues to be oversupplied and suffering
from the general downturn in advertising spend brought about by the financial
crisis and with further migration online of both advertising and content. As we
have previously stated, our strategy is to focus on products and customers
where there is a demand for service and quality and not to chase volumes at sub
economic prices. We are confident that any impact from this contract loss,
which falls at the end of the current financial year, will be mitigated by new
contract wins and more efficient capacity utilisation during our next financial
year, given our well invested facilities and reputation for quality and
service.

We continue to keep our costs under review and will take whatever further
action is necessary.



For further information please contact:

St Ives plc                      020 7928 8844

Patrick Martell, Chief Executive

Matt Armitage, Finance Director


Smithfield                       020 7360 4900

John Antcliffe

Rupert Trefgarne