Interim Results Presentation for period ended 30th September 2007

Results Overview-Highlights Record results Operating profit* up 61.3% to £768k(2006 £476k) Strong underlying sales growth Significant increase in demand at Redman Fittings Good progress at Maxpower Automotive following acquisition in June 2007 Increasing order book at RMDG Aerospace Continue to look for further opportunities to expand *before intangible asset amortisation, FRS 20 charges and restructuring costs

Results Summary H Change £'000 Sales8,7975, % Operating Profit* % Profit before Tax* % Adj EPS*1.64p0.95p+72.6% * before intangible asset amortisation, FRS 20 charges and restructuring costs

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

China Office now established for over 18 months Good progress to date Full time employees –Increased to 5 Several reliable sub contractors of:- –Finished product –Semi finished product –Tube –Bellows –End fittings Receiving warehouse now established in the UK-use will extend to the other businesses

Blue Chip OEM Customer Base-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 Glynwed Pipe Systems Uponor Bearward

Business Review

Key end market is power generation –Generator sets –Diesel engines –Radiators Steady progress through first half Markets remaining firm Improving productivity Some material cost increases Malvern Tubular Components

Innovation Revolutionary end fitting system World wide patents Key end market-water –Longer term opportunity in oil/gas Able to join multi-layer pipework Strong demand from barrier pipe manufacturers –Brown field site developments –Potential land contamination –Water quality Significant growth through H1 Outlook encouraging

Acquired June 2006 Focussed on pipe assemblies for the aerospace sector Delivery performance improving to world class levels Strong order book-existing and new customers Transfer of parts to low cost sourcing progressing

Maxpower Acquired June 2007 Tube manipulation and fabrication Off highway, niche Automotive Steel, plastic and hybrid tube forming Business performing to expectations Low cost country sourcing project on track and will deliver significant benefit in 2008/9

Group Outlook Outlook remains very positive Key markets remain strong Anticipate strong financial performance to continue Continue to look for further acquisitions