AGM Statement

RNS Number:9639R
Caffe Nero Group PLC
12 November 2003





                           CAFFE NERO GROUP PLC
                      ("Caffe Nero" or "the Group")

                              AGM Statement



Gerry Ford, Chairman, will be making the following statement at the Group's AGM
later today:


"Caffe Nero, the leading Italian-style coffee bar operator, is pleased to
confirm that the current year has started well.  Trading remains in line with
market expectations and has continued to be ahead of budget throughout September
and October.


"We are particularly encouraged by the performance of our new openings.  The
Group has opened 14 new units since the year end, bringing the total to 135.
Early indications of trading in new units are extremely positive and we remain
on target to have 150 sites in operation by January 2004.


"We have been delighted at the success and visibility of our brand initiative
promoting Tate Britain's "Turner in Venice Exhibition" at our units within the
M25 over the last month.  We will be looking to link the Caffe Nero brand more
closely in future with quality arts and cultural events of this kind.


"The Group has had an encouraging start to trading and the Directors remain
confident of delivering another year of successful growth to build on the
success of the past."



                                                             12 November 2003


ENQUIRIES

Caffe Nero Group plc                                       Tel:    [phone]
Gerry Ford, Chairman and Chief Executive

College Hill                                               Tel:    [phone]
Justine Warren




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            The company news service from the London Stock Exchange
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