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For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


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We store and use information you provide as follows:

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You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


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Xaar PLC (XAR)

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Wednesday 09 April, 2003

Xaar PLC

Trading Statement

Xaar PLC
09 April 2003

FOR IMMEDIATE RELEASE                                               9 April 2003

                                    Xaar plc

                          TRADING UPDATE AND NEW ORDER

Xaar plc ('Xaar'), the inkjet printing technology group headquartered in
Cambridge, presents an update on current trading and announces a new sales
agreement relating to the XJ126.

Sales into Xaar's Asian markets have been slower than expected during the first
quarter of the year, largely due to the customer acceptance process for the
revised XJ500 product introduced at the beginning of the year. In the interests
of sustaining good customer relationships, the company has taken a commercial
decision selectively to replace without charge customer stocks of older XJ500
heads with the revised model. It is intended to fully provide for all units of
the older XJ500 product replaced in this way. Although this is likely to cost
the company £0.6m in the first half of the year, it is expected to clear the way
for new orders of the revised product, feedback on which remains positive.

Additionally, a quality control issue in the Swedish plant adversely affected
the equivalent of one month's production, affecting primarily the XJ500 product.
The problem, which was unrelated to the warranty issue seen at the end of last
year, has now been rectified and did not affect product shipped to customers.
The cost of scrapped product amounted to approximately £0.6m and will also be
reflected in the results for the first half-year.

Sales of the XJ128, which accounts for the majority of the Company's printhead
sales remain in line with expectations. Xaar is pleased to report it has reached
heads of agreement with one of its larger Chinese customers conferring certain
exclusive rights to use of its XJ126 printhead for a category of the wide format
printer market. In return, the agreement is expected to generate annual sales
worth over £3.0 million. The agreement is effective from April 2003 for an
initial term of twelve months with volume shipments expected to commence in the
second-half of the year.

As a result of the factors set out above, Xaar now expects results for the year
to 31 December 2003 to be heavily second-half weighted, with a loss reported for
the six months to 30 June 2003 on turnover similar to the first half of 2002.
Continuing uncertainty in the global economy makes it difficult at the current
time to predict precisely when higher levels of customer confidence will return.
The company will give a further update at the end of June.

Xaar plc:                                                           01223-423663
Jan Fineman, Chief Executive                            
Nigel Berry, Finance Director

Bankside Consultants:
Steve Liebmann                                      020-7444-4163 / 07802-888159

                      This information is provided by RNS
            The company news service from the London Stock Exchange

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