Plexus Holdings PLC (POS.LN), an AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP(R) friction-grip method of wellhead engineering, said Monday it has signed a GBP200,000 agreement with BG Egypt, a division of BG Group PLC (BG.LN), to supply its POS-GRIP 10,000 psi wellhead system with mudline suspension system for exploration activities offshore Egypt at BG Egypt's Zonda well.

MAIN FACTS:

-Revenues from the contract is expected to start in August.

-Board is confident that with further contracts in the pipeline and such initiatives as POS-GRIP friction-grip subsea 'HGSS' wellhead gaining traction within the oil and gas industry, 2011 is set to be a successful year for Plexus.

-Plexus shares closed Friday at 61 pence valuing the company at GBP48.91 million.

-By Ian Walker, Dow Jones Newswires; 44-20-7842-9296; ian.walker@dowjones.com
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