Volex Group PLC 30 June 2005 Thursday 30 June 2005 Volex Group plc ("Volex" or "the Company") BOARD CHANGES AND AGM TIMETABLE Further to the completion of the Company's Firm Placing and Placing and Open Offer, which occurred this morning, the Board is pleased to confirm the following Board changes as proposed in the Company's circular to Shareholders dated 6 June 2005 in connection with the Firm Placing and Placing and Open Offer. Craig Robin Mullett and Heejae Richard Chae have been appointed to the Board as Directors. Both Craig and Heejae have extensive knowledge of the cable and interconnector markets, having both been for five years senior executives with the Amphenol Corporation, a NYSE listed company and the world's third largest producer of electronics connectors, cables and interconnect systems. Craig, aged 36, who was the director of business development at Amphenol, will be joining the Group as a non-executive Director. He will assume responsibility for a number of special projects and will work with the executive team in implementing and developing, as necessary, the strategy described in the Company's circular to Shareholders, dated 6 June 2005 in connection with the Firm Placing and Placing and Open Offer, for returning the Group to profitability. Craig is currently President of Branison Group, a corporate finance firm located in Connecticut, USA. Heejae, aged 36, was worldwide general manager of the Radio Frequency Group of Amphenol. He will become Chief Operating Officer and will work with the Chief Executive in the implementation of the strategy, taking responsibility for the improvement of the manufacturing operations. Heejae is currently a director of Caspian RF Systems. Following the completion of the £19m equity raising, Dom Molloy has resigned as Chairman and retired from the Board. A search for a new non-executive Chairman has already commenced, whom the Board believes needs to have experience of running a multinational business and, in particular, has been involved in corporate restructurings in the past. The Board hopes to have identified and be able to appoint a new non-executive Chairman before the AGM in September 2005 but is pleased to confirm that, for the interim period until that appointment, David Beever, who has been a non-executive Director since 2002, will assume the role of Chairman. Commenting on these changes, John Corcoran, Chief Executive of Volex said: "I would like to place on record the Board's thanks to Dom Molloy for his substantial contribution to the Group over the past 20 years, first in an executive capacity and more recently as non-executive chairman. We wish him well in his retirement. It is also a pleasure to welcome two new directors, Heejae Chae and Craig Mullett, who join the Board as we move into the next exciting phase of the Company's development" No further details regarding Craig Mullett and Heejae Chae are required to be disclosed under paragraph 6.F.2 (b-g) of the Listing Rules of the UK Listing Authority. Volex also announces that the 2005 Annual Report & Accounts will be issued to shareholders at the end of July, together with the formal notice of Annual General Meeting, which this year will be held on 8th September 2005. Unless the context provides otherwise, words and expressions defined in the prospectus sent to shareholders of the Company dated 6 June 2005 shall have the same meanings in this announcement. For further information please contact: Volex Group Plc 01925 830101 John Corcoran, Group Chief Executive Derek Walter, Group Finance Director Evolution Securities 020 7071 4300 Tim Worlledge, Matthew Wood Weber Shandwick Square Mile 020 7067 0700 Chris Lynch/Nick Dibden This information is provided by RNS The company news service from the London Stock Exchange