RMDG AerospacePreliminary Results Presentation

March 2007

Senior Management Team

• Steve Cooper– CEO– Previously President of IMI’s Fluid Power Division– £450m sales– 22 manufacturing locations worldwide– 6500 people

• Mike Welburn– Group Sales Director– Previously Director of Global OEM Strategy for IMI’s Fluid Power

Division

Results Overview-Highlights

• Record results

• Operating profit* up 59.6% to £1,044k

• Strong underlying growth

• £120k investment in restructuring/rationalisation at RMDG

• Acquisition of Maxpower Automotive announced today

• Continue to look for further opportunities to expand

*before rationalisation, goodwill amortisation and FRS 20 charges

Results Overview

*Before rationalisation,goodwill amortisation and FRS20 charges

2007£’000

2006£’000

Change%

Sales 11,147 6,202 +79.7

Operating Profit* 1,044 654 +59.6

Operating Profitafter rationalisation costs

924 654 +41.3

Adjusted earningsPer share*

2.63p 2.11p +24.6

Business Review

• Malvern Tubular Components

• Redman Fittings

• RMDG Aerospace

• Maxpower Automotive

Supporting major OEM’s worldwide

• Largest of the businesses

• UK, USA, Asia

• Key end market is power generation – Generator sets– Diesel engines– Radiators

• Sales up 16%

• Further extension of component purchases from lower cost countries

• Improving customer value

Low Cost Country Sourcing

• Office established in Nanjing for 18 months• Good progress to date• 4 Full time employees• Network of sub contractors for:-

– Tube– Bellows– End fittings

Innovation

• Revolutionary end fitting system

• World wide patents

• Able to join multi-layer pipework

• Strong demand from water companies – Brown field site developments– Potential land contamination– Water quality

• Sales up 61%

• Outlook encouraging

• Additional markets/opportunities identified

• Acquired June 2006

• Productivity up 15%

• Team working on identifying and sourcing components from low cost countries

• £120k investment in rationalisation/reorganisation

• Delivery performance improving to world class levels

• Plans to make business a significant contributor to profits 07/08 well on track

New Shop floor layout

Before After

Acquisition of Maxpower Automotive

• Announced today

• Cash consideration £1.55m

• For year ending March 2006

– PBT £69.7k– Sales £5.3m– Gross assets £2.8m– Net assets £428k

Maxpower

• Tube manipulation and fabrication

• Off highway, niche Automotive

• Steel, plastic and hybrid tube forming

Maxpower

• The type of business we know and understand well

• Blue chip OEM customers base– Perkins

– Shibaura

– Land Rover

– JCB

– Dura

– Siemens VDO

• Techniques and methods used at MTC will be used to drive the business forward

New Group Structure

.

Tricorn Group Plc-Strategy

• Operational Performance– Continue to drive for world class operational performance within individual

businesses– Develop local management expertise– Intimate customer relationships– Lean manufacture– On time delivery– Quality

• Margin improvement – Overhead streamlining– Year on year productivity improvements– Component and semi finished sourcing from low cost countries

• Growth– Continue to grow through acquisitions and organically– Maintain clear focus on pipe solutions – Increase customer penetration as product portfolio expand and develops– Acquire new customers

Markets

Power Gen

Aerospace

Off High

Niche Auto

Water

Other

Customers

• Blue chip Original Equipment manufacturers• Caterpillar

– Perkins– F G Wilson

• Rolls-Royce• Cummins• JCB• Shorts Bombardier• Land Rover• GPS• Bearward

Tricorn Group Summary

• Strong and experienced management team

• Proven track record established

• Clear, focussed strategy

• Scope for significant expansion

• Outlook for the Group very positive with all key market sectors strong and drive for reduced costs continuing to be successful