Board change

31 December 2008

CORAC GROUP PLC

(The ‘Company’)

BOARD CHANGE

Corac Group plc announces that Gerd Cromm, Executive Director, who has reached the age of 66, will be retiring from the Board with effect from 31 December 2008. The Company is pleased that Gerd Cromm will remain as a part time consultant, thereby retaining the benefit of his experience and contacts within the compressor industry. He will assist with marketing strategy and the further development of sales channels for the Company’s industrial air products. 

For further information:

Professor Gerry Musgrave

Corac Group plc Tel: 01895 813463

Ivonne Cantu/Camilla Hume - Corporate Finance

Christian Hobart - Sales

Cenkos Securities plc Tel: 020 7397 8900

Richard Darby/Ben Romney

Buchanan Communications Ltd Tel: 020 7466 5000

NOTES TO EDITORS

Corac is an intellectual property, engineering and licensing group which holds many patents. It focuses on high speed electrical direct drive turbo machinery based on its unique expertise in gas bearings. Corac has created an innovative ‘no oil’ turbo compressor together with a unique gas seal, and is part of a joint industry programme for the downhole gas extraction industry.