JACQUES VERT PLC 

AGM Statement

Steve Bodger, Chairman of Jacques Vert Plc, the womenswear clothing retailer, will make the following statement at the Group's Annual General Meeting to be held later today:

'On a like for like basis, sales in the first 21 weeks of the current financial year were down 7%, although gross margins were slightly ahead of the same period last year. This performance is broadly in line with the position announced on 8 July at the time of our Preliminary Results, when like for like sales in the first 10 weeks were down 5.9%'.

'As has been widely reported, the trading environment since the time of the Preliminary Announcement has worsened; however, we have already taken action to reduce the effects of the consumer downturn.  Our position is also strengthened by having a robust balance sheet and cash reserves, although we remain cautious for the remainder of the year and can see no reason for any improvement in the economic environment in the short term'. 

- ENDS -

Note to Editors:

The Group retails four womenswear brands: Jacques Vert, Windsmoor, Planet and Precis. Sales are made predominantly in the UK, Canada and Eire through circa 940 outlets and through the internet.