Warwick Acoustics Update

Mercia Asset Management PLC

("Mercia" the "Company" or the "Group")

Warwick Acoustics technology features in world's first automotive electrostatic audio system

Mercia Asset Management PLC (AIM: MERC), the proactive, regionally focused private asset manager with over £2.0 billion of assets under management, is pleased to announce that Warwick Acoustics Limited ("Warwick Acoustics"), one of its direct portfolio companies, is supplying components for an automotive electrostatic audio system. The "SV Electrostatic Sound" system was announced today by Range Rover.

The launch marks a major commercial milestone for Warwick Acoustics. It follows more than a decade of technology development, strategic support and backing from Mercia and represents the transition of Warwick Acoustics' electrostatic audio technology into commercial production vehicles.

Mercia holds a fully diluted direct stake of 30.7% in Warwick Acoustics.

Mark Payton, CEO of Mercia Asset Management PLC, said: "This is a landmark achievement for Warwick Acoustics, one of Mercia's largest direct investment holdings. After more than a decade of development, this launch represents the point at which deep-tech innovation and persistence have translated into commercial production with a global automotive manufacturer.

"This is a powerful example of the commercial and technical progress being delivered across Mercia's direct investment portfolio."