Trading Statement

RNS Number:5538S
Austin Reed Group PLC
27 November 2003



27 November 2003


                            AUSTIN REED GROUP PLC

                             TRADING STATEMENT

At the time of our interim announcement on 9 October 2003, total retail sales in
the first 8 weeks of the second half were level with the previous year and down
6% on a like for like basis.  Since then trading conditions have deteriorated.
In the 15 weeks of the second half to 22 November 2003 total retail sales were
down 5.5% and down 11.7% on a like for like basis.

The out turn for the full year will depend on the peak trading weeks in December
and January.  At this stage however, we consider it unlikely that the recent
sales decline will be reversed in the remainder of the financial year, although
the performance of our redeveloped Regent Street store continues to show growth.
The gross margin for the second half is also expected to be lower as a
consequence of additional promotional activity.

The Board now expects that pre tax profit before exceptionals for the year to 31
January 2004 will be significantly lower than market expectations.

A further trading statement will be made, as usual, in January 2004.


Enquiries:

Gavin Anderson & Company           Tel: [phone]
Richard Constant


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