Date: 23rd April 2009

Immediate Release

Slimma plc

('Slimma' or 'the Company')

AGM Statement

At the Annual General Meeting of the Company held today, all resolutions were duly passed. Carolyn Simons, Non-Executive Chairman gave the following update to shareholders:

'Despite 2008 seeing the worst economic downturn for many years, and there being little sign of an imminent return to normality, our trading results in the first quarter of our current financial year have achieved management expectations and under more normal trading conditions would be viewed as a sign of recovery by the Company. We must, however, reiterate a cautious stance to shareholders, as we believe that a more challenging period for the Company and retailing in general will be during the next six months of 2009.

'In order to ensure our long-term position within the market and as a further strategic move in the Company's progress towards the wholesale of high-value, high-margin branded product, the Directors have decided to close our contract design and manufacturing business which services mail order and high street customers.  

'Sales in this division have been in decline for a number of years and we believe therefore that it is now commercially unviable for the division to continue. Although this will involve exceptional costs in the financial year, it forms a necessary part of our restructuring programme; not only to reduce future bank borrowings, but also by allowing management to focus on the support and growth of our key brands such as Frank Usher, Michel Ambers and their sub brands.'