Surface Transforms, is now the time to build a stake.

28 January 2003

First order for Surface Transforms's brakes in
Indy Racing League


Surface Transforms plc, makers of high technology carbon ceramic materials, has
received its first order from one of the most successful teams that competes in
the US Indy Racing League (IRL). The order is for the supply of brake discs and
pads. This deal marks the Company's first full commercial order in competitive
motor racing.

Indy Car racing is the US-equivalent to Formula One in terms of top speeds and
the sophistication of its technology. There are 23 teams with around 39 drivers
competing in IRL, many with two or three cars per team. The Directors of Surface
Transforms believe this market could be worth up to £0.5m per annum to the
Company.

The new order came after successful testing in the U.S. during the last quarter
of 2002. Surface Transforms will supply the products in conjunction with a
specialist brake manufacturer who has been acting as development partner.

In IRL there is far less demand on the brakes than in Formula One because the
cars run mainly on oval circuits and usually brake only when they are slowing to
enter the pits or for safety reasons. The characteristics of the Company's CFRC
brake discs and pads mean they are equally suited to this environment as well as
Formula One and can therefore provide significant advantages over existing
materials currently in use. In particular, CFRC materials provide good cold
friction, significant weight reduction and better braking capabilities all of
which should enable IRL teams to save time under braking. This could make the
difference between teams winning and losing races.

Managing Director of Surface Transforms, Julio Faria, commented:

'This order proves our product and technology is commercially viable. We've been
working hard on entering this new market and therefore we're delighted to have
received our first order to supply into IRL for competitive racing purposes.
We're pleased that the majority of the development and testing we've completed
with Formula One teams has been transferable to Indy Cars, F1's nearest
equivalent formula.'