Appointment of Phil Cartmell to Corac Group plc Board

Corac Group plc is pleased to announce the appointment of Phil Cartmell to the Board as Chief Executive Officer with immediate effect. Phil, aged 58, has a highly active career in business, having formerly been Chief Executive of Vega Group PLC between 2001 and 2008, where he grew the company into a leading European aerospace and defence business. In February 2008, Vega Group was acquired by Italian multi-national, Finmeccanica, for a substantial premium. Phil has a number of other  directorships including Non-Executive Director of Trafficmaster PLC.

Gerry Musgrave, Executive Chairman of Corac Group plc, commented:

"We are delighted to have Phil joining us as Chief Executive. His excellent track record of working with growth companies to build shareholder value should help Corac Group plc to capitalise on its strong market  potential. It is recognised by both of us that we bring different expertise and experience, which jointly will help deliver the advanced technology to the commercial world."