Delisting & Transfer to AIM

RNS Number:5226R
Monsoon PLC
31 October 2003


                                  Monsoon plc
                                        
                 Announcement re: Delisting and Transfer to AIM

The Company today gives notice that it has applied to the UK Listing Authority
for the listing of its ordinary shares on the Official List ('Listing') to be
cancelled and for its shares to be admitted to trading on the Alternative
Investment Market of the London Stock Exchange (AIM), each with effect from 8.00
am on 1 December 2003.

Following the recent offer of puts by Stoneycroft Limited, and taking into
account all shareholdings (including those held by persons other than Peter
Simon and related family trusts) which are not, due to their size, treated as
being in public hands (as defined by the Listing Rules) the level of ordinary
shares in public hands has fallen below the minimum level of 25% generally
required by the Listing Rules. Given that indications received by the Company
suggest that this will continue to be the case for an indefinite period, the
level of ordinary shares in public hands is insufficient for the Company to
remain eligible for Listing.

In any event and independently of these circumstances, the Company has concluded
that AIM is the most appropriate market for it to retain a publicly traded
quote. The Board believes that a transfer to AIM will provide a market and an
environment more suited to a company such as Monsoon and will simplify the
ongoing administration requirements of the Company, with a consequential
reduction in the costs associated with having its shares listed on the Official
List. However, as an AIM company, Monsoon will continue to be subject to the
regulatory and disciplinary controls of the London Stock Exchange.

The move to AIM will not impact upon the strategy or the conduct of the
Company's business. The Group's business objectives are to increase shareholder
value by establishing a reputation for consistent and sustained profits growth.
The strategy to achieve this growth is to:

* continue to develop and improve its products in order to exploit the full
  potential of the Group's two existing and established brands:
  Monsoon and Accessorize;

* grow sales in the UK and Eire by both substantially increasing square footage
  and by delivering improved sales densities in existing stores;

* continue to establish the Accessorize brand internationally in particular in
  Northern Europe, Eastern Europe and Russia and become the most successful 
  retailer of accessories worldwide by developing and supporting its network of
  franchise partners;

* continue to develop the full potential of its employees so that customer 
  service is perceived to be of the highest standard; and

* develop its infrastructure, modernise its processes and control costs in order
  to be a lean but responsive organisation capable of delivering the strategy 
  effectively.

Monsoon announces that it has appointed Numis Securities as its corporate broker
and financial adviser with immediate effect and nominated adviser and broker to
the company effective from its Admission to AIM.

Enquiries

Numis Corporation                                   020 7776 1580
Simon Law

Gavin Anderson                                      020 7554 1400
Neil Bennett/Laura Hickman



                      This information is provided by RNS
            The company news service from the London Stock Exchange

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