Statement re. Suspension

RNS Number:4040O
Petards Group PLC
04 July 2005

                 Petards Group plc ("Petards" or "the Company")

                                  Announcement

               Statement re. Share Suspension and Trading Update

The Board of Petards, the AIM listed developer of advanced surveillance systems,
has decided to withdraw the Group accounts for year ending 31 December 2004
which were circulated to shareholders on 10 June. This follows the discovery of
discrepancies in the accounting for long-term contracts at one of its
subsidiaries relating to 2004 and earlier years. The accounts were due to be
laid before shareholders at the Annual General Meeting to be held on 8 July
2005. Because this has arisen after the expiration of the six month period
following its year end, and to avoid the possibility of a false market in the
Company's shares, the Company asked for the suspension of its shares.

A review is currently being carried out and the subsidiary's accounts will be
re-audited as soon as possible. The Board expects to re-issue audited 2004
accounts at the time of the release of the interim results for the period ended
30 June 2005, at which time the shares are expected to be re-admitted to AIM.
The Annual General Meeting will be adjourned until the accounts have been
re-issued.

The discrepancies that have been discovered are not expected to affect adversely
the trading results for the current year. The Company has adequate working
capital and is not in breach of any of its banking covenants. Its bankers, Bank
of Scotland, have been kept fully informed.

The Group has recently won three major UK rail CCTV contracts totalling #5.6m.
These are with Alstom for West Coast Main Line operated by Virgin Trains, First
Group for ScotRail and Wabtec for London Eastern Railways.  Trading in the first
six months of the current year is in line with expectations and the Board is
pleased with the progress that has been made in 2005.

For further information:

Petards Group plc                                    Binns & Co PR Ltd
Andy Wonnacott                                       Paul McManus
Finance Director                                     Tel: 020 7153 1485
Tel: 01932 788288                                    Mob: 07980 541 893

                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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