7 July 2003

                                  FINDEL PLC                                   

                             AGM Trading Statement                             

At today's Annual General Meeting, Keith Chapman, Chairman, made the following
statement to shareholders:

"The group's home shopping division has had an excellent start to the new
financial year with the strong sales trend established over recent years
continuing. In the first 14 weeks of the current year home shopping sales have
grown by over 25% compared to the same period last year.

"I reported that in the first 7 weeks of the current year, due to continued
funding difficulties, sales in our educational division had declined by 12%.
Since then there have been some signs of improvement in the marketplace with
sales now standing just 2% behind the same period last year. Consistent with
our strategy to develop further our sales in the division, I am pleased to
announce the acquisition of A to Z Supplies from Accord plc for a cash
consideration of �3.75m. This Essex based business enjoys annual sales of
approximately �17m.

"Findel Services continues to perform in line with expectations, with a sales
reduction of approximately 30% in the first 14 weeks being entirely due to the
previously announced withdrawal from certain uneconomic third party activities.
After adjusting for this, like for like sales in the division were at the same
level as in the equivalent period last year.

"Although the first 14 weeks represents only a small proportion of full year
activity, it is pleasing to report that despite the difficult education market
and generally weaker retail sales, on a like for like basis excluding the third
party activities we withdrew from, the group has made a very satisfactory start
to the new financial year and is currently showing an 11% increase in sales."

For further information please contact:

Keith Chapman, Chairman, Findel p.l.c.                            01943 864 686
                                                                               
Tony Johnson, Group Chief Executive, Findel p.l.c.                01943 864 686
                                                                               
Richard Fallowfield, CardewChancery                               020 7930 0777
                                                                               
Jonathan Smith, CardewChancery                                    020 7930 0777





END