Sale of Leathergoods division

RNS Number:3243Q
Shelton (Martin) Group PLC
30 September 2003


                            MARTIN SHELTON GROUP PLC

Sale of Leathergoods division

On 25 September 2003, Martin Shelton Group Plc (the "Company") sold the business
and certain assets of its Leathergoods division, Daines & Hathaway, for a cash
consideration of #574,000. An immediate payment of #546,000 was received on
completion, with the balance of #18,000 becoming payable on receipt of certain
debtor payments.

Of the total proceeds received, approximately #270,000 has been used for the
repayment of debt associated with these assets. The balance of approximately
#304,000 will be reinvested by the Company to develop and grow its core calendar
and diary business.

Daines & Hathaway is involved in the production and sale of small leather goods
predominantly for the retail market. As at 25 September 2003, the value of the
assets sold was estimated to be #640,000 and during the year ended 31 March
2003, the Leathergoods division recorded a loss before tax of #48,000. The
Company expects to realise a loss before tax of #66,000 on the disposal.


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