MFW Mayflower

RNS Number:5913V
Mayflower Corporation PLC
19 February 2004


                  The Mayflower Corporation plc ("Mayflower")

                                 Trading Update

Following the announcement by The Mayflower Corporation plc on 16 December 2003,
when Mayflower advised that its results would be below market expectations,
Mayflower is now completing its accounts for the year ended 31 December 2003.
This process is not yet finalised. However, it is anticipated that the profit
beforetax, goodwill amortisation and exceptionals will be not less than #6
million.

The majority of the shortfall in profit since the last announcement has occurred
in TransBus and has arisen from a reappraisal of warranty provisions and other
costs associated with the integration of its three businesses. These are,
principally, one-off costs that are not expected to re-occur in 2004. The
balance of the shortfall relates to the continuing losses arising from difficult
market conditions affecting the MVS business in Germany.

All other companies traded to market expectations. Net debt, as at 31 December
2003, was #176 million.

The carrying value of Mayflower's investment in the MVS German business is
presently under review. It is likely that considerable write-downs will be made
in respect of this business. Together with other one-off costs and write-downs
across the Group, it is probable that this will give rise to significant
exceptional charges.

The Group is keeping its lenders closely advised of these developments.
Discussions are continuing and a positive resolution is anticipated. The Group
expects to make its preliminary results announcement for the year ended 31
December 2003 no later than the end of March 2004.


CONTACTS:

The Mayflower Corporation
John Simpson                         01494 450145
David Donnelly                       01494 450145

Gavin Anderson & Company
Liz Morley                           020 7554 1400



                      Thisinformation is provided by RNS
            The company news service from the London Stock Exchange

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