AGM Statement

RNS Number:2770W
Alexon Group PLC
23 May 2002


FOR IMMEDIATE RELEASE                                              23 May 2002

Alexon Group plc

AGM Statement

Alexon Group plc, a leading retailer of ladieswear, menswear and shoes, will
make the following statement at its AGM this afternoon.

"We are pleased to report that the encouraging start to the year, referred to in
our preliminary announcement in March, is continuing.

Alexon Brands is trading in line with plan with particularly strong performances
coming from Minuet and Kaliko; Style Menswear is progressing well, with a
further seven new ENVY shops scheduled to open in the next few months, bringing
the total to fifty shops at the year end; and Dolcis is continuing to enjoy a
modest sales recovery in line with improvements to the product range.

Bay Trading has exceeded our expectations in the season to date, reflecting a
continued recovery in sales and margin, aided by the current strength of the
young fashion market."

Contact:

Alexon Group                         01582 723 131
John Osborn, Chief Executive
Robin Piggott, Finance Director

Buchanan Communications              020 7466 5000
Richard Darby/Bobbie Swanson


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