RNS Number:5923N
Peacock Group PLC
16 July 2003

                                                                    16 July 2003



                             THE PEACOCK GROUP PLC
                                 AGM STATEMENT

At today's AGM of the Company, John Lovering, Chairman, will say:

"Since the year end, the Group has continued to make excellent progress.  This
is being driven by our success in exploiting the strong underlying growth of our
value markets through the rollout of the new format stores and the more
fashionable lines at Peacocks, and the continuing success of bonmarche in
exploiting its distinct market position.

Overall Group like-for-like sales in the first quarter of the current financial
year to 29 June 2003 are up 10.8% over the comparable period last year.
Like-for-like gross profit is up 13.6% for the Group.

The Peacocks division has achieved like-for-like sales growth of 8.1% in the
first quarter with like-for-like gross profit up 9.1%.  Our refurbishment
programme is being rolled out with a further 29 stores converted to the new
format in the first quarter bringing the total to 106 stores.  We have also
opened 7 new stores, including 1 relocation, and closed 1 store, bringing the
chain to 375 stores across the country.  112 stores (30% of the chain) are now
in the new format.

The bonmarche division has achieved like-for-like sales growth of 15.5% in the
first quarter with like-for-like gross profit up 21.1%. We now operate from 280
locations, having opened 11 new stores and closed 1 store in the first quarter.
Despite the strong growth in sales, stock continues to be held under tight
control at levels some #19 million (at selling prices) lower than at the same
point last year.

Shareholders are reminded that it is early in the financial year and  the
comparative period was one of the weakest last year. Whilst the Group
performance looks very encouraging, the overall trading environment remains
highly competitive.  "

The Peacock Group is a leading UK value for money retail business with two
distinct, national brands.  Peacocks sells clothing, footwear and homewear, with
a growing focus on good value fashionable womenswear and menswear for the 25 to
45 age group.  bonmarche aims to be the first choice destination store for
womenswear customers of 45 and over.

An analyst conference call will be held this morning at 08.30am with a replay
facility subsequently available.  For details please call James Hill or Rebecca
Ghent on 020 7796 4133.

Enquiries :-

Andrew Hayes/James Hill
Hudson Sandler Limited
Telephone :           020 7796 4133


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