RNS Number:8414H
VTR PLC
24 February 2003

                                     VTR plc

                             - Trading Statement -

After an encouraging start to the financial year to 31 August 2003, revenue for
the last three months has been disappointing, reflecting the continuing
depressed state of the advertising and broadcast industries.

Accordingly, the Directors advise that the results for the half-year to 28
February 2003, which will be announced at the end of April, are likely to be at
or around break even. Although it is very difficult, given the prevailing market
conditions, to estimate what will happen in the media industry, and therefore to
the VTR Group, in the second half of the current financial year we do anticipate
a profitable outcome which will, however, be well below market expectations.
Turnover, boosted by the opening of K