AGM Statement

Volex Group PLC 28 September 2006 28 September 2006 Volex Group plc Annual General Meeting Chairman's Statement Volex Group plc will be holding its Annual General Meeting at 12.30 p.m today at which Richard Arkle, Chairman, will make the following statement to shareholders: 'Since the announcement of the Group's 2006 preliminary results on 14th June 2006, trading has continued in line with the Board's expectations. Whilst commodity prices have risen significantly since the year-end, steps have been taken to pass these increases on to customers and at the same time the Group has been working on reducing costs internally. We continue to implement our global restructuring programme and have sold the premises at Butts Mill, Leigh for £1.5m having relocated the harness business to another existing UK site. We expect to close the Stoke-on-Trent and Clinton sites in the second half of this financial year with further cost reductions being made. As part of the business to be considered at the meeting, shareholders have been asked to approve a Long Term Incentive Plan (the 'LTIP'). The LTIP has been specifically designed to provide high levels of reward in return for high performance from the Executive Directors and Senior Executives of the Group. This will enhance the alignment between the creation of significant shareholder value through improvements in the Company's performance with significant rewards for the Executive Directors and Senior Executives should that value be created. If the LTIP is approved, the impact on the profits for this year will not be material. 'The Board believes it is performing in line with expectations and looks forward to reporting its Interim results for the half year ended 1st October 2006 in November.' Richard Arkle Chairman Volex Group plc - Ends - For further information please contact: Volex Group plc 020 7067 0700 Richard Arkle, Chairman Thereafter:01925 830 101 Heejae Chae, Group Chief Executive Derek Walter, Group Finance Director Weber Shandwick Square Mile 020 7067 0700 Chris Lynch Nick Dibden This information is provided by RNS The company news service from the London Stock Exchange

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Volex (VLX)
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