Final Results

4imprint Group PLC
20 March 2001


                                                           
For Immediate Release                                         20 March 2001 
 

                        PRELIMINARY RESULTS FOR THE 
                      FULL YEAR ENDED 30 DECEMBER 2000 


4imprint Group plc ('4imprint'), the leading global distributor of imprinted
promotional products, today announces Preliminary results for the full year
ended 30 December 2000.

Commenting on today's announcement Rodger Booth, Chairman of 4imprint said:

'The year 2000 has been a landmark in the development of the Group. Following
a detailed review, the specialist printing businesses were sold and our
activities concentrated on our newer operations, and the name of the Group
was changed to 4imprint Group plc to better reflect this.'  

Key Points: 

*  Turnover increased 22.4% on existing business
   -  Promotional Marketing (Continuing Operations), £88.0m (1999 £71.9m)
   -  Discontinued Operations, £28.7m (1999 £108.4m)
*  Pre tax profit for continuing operations increased 66.5% to £4.5m (1999      
   £2.7m)
*  Successful exit from specialist print business
*  Acquisition of Adventures in Advertising (AIA) for $12.8 million
*  New client wins included AMEC, BAE Systems, NTL, Nortel and Unisys.

Dick Nelson, Chief Executive also commented:

' I am delighted with the company's performance over the last year especially
our recent acquisition of Adventures in Advertising. We have also made
significant progress particularly in our UK operations both in terms of
revenue growth and business efficiency and I am confident these measures will
ensure healthy returns moving forward.'

THERE WILL BE AN ANALYST BRIEFING AT BUCHANAN COMMUNICATIONS 
107 CHEAPSIDE, EC2 ON TUESDAY 20 MARCH AT 09.30 AM. 

For further information, please contact: 

                                                                           
     4imprint Group                                                        
     Dick Nelson, Chief Executive               020 7466 5000 (today only) 
     Richard Harrison, Finance Director         020 7466 5000 (today only) 
     Buchanan Communications                                               
     Mark Edwards, Jeremy Garcia, Alison Cole   020 7466 5000              
                                   

Chairman's Statement

The year 2000 has been a landmark in the development of the Group. Following
a detailed review the Board concluded that there were insufficient long-term
growth prospects for the printing businesses, which had been the core of the
Group for more than 100 years. These were therefore sold, and our activities
concentrated on our newer operations involved in the sale and distribution of
imprinted promotional products on an international basis.

When the disposals were complete I moved to my present role as non-executive
chairman, and Dick Nelson was appointed CEO. The name of the Group was
changed to 4imprint Group PLC to better reflect our new activities. In his
report and the pages that follow Dick describes our ongoing business in more
detail, and reports on the very significant progress, which has been made
during the year in these operations.

I am also pleased to report the appointment of Mike Potter as a non-executive
director of the Group. Mike is founder and CEO of Redwood, whose main
activities are the publication of consumer magazines and the provision of
marketing services.

Chief Executive's Review 

Review of 2000 Results 
 
Operations 

Another giant step in the transformation of our Group took place this year
with the disposal of our Specialist Print Services operations based in Hull
and Derby, England, our Lett's Diary business in Dalkeith, Scotland, and our
SKM operation in Michigan, US, each to their respective management teams. The
loss on the disposal of these subsidiaries was £44.5 million, after writing
back goodwill of £31.6 million and raised cash of approximately £35million.

The continuing promotional products business experienced excellent turnover
growth in the UK, the US and Germany, up a total of 22.4%, while operating
profits were up 8% on prior year despite an additional media spend of £1.5+
million. The media spend in the UK was in conjunction with the launch of the
new 4imprint brand, unifying four separate corporate identities into one
while in the US, the Group aggressively promoted its web site in the face of
intense, new competition which has subsequently subsided. We also experienced
a positive turnaround at PPI to a profit from an operating loss the prior
year.

Additionally, significant consolidation of the continuing UK operations has
been in process throughout the year, positioning the Group to operate more
efficiently in the future. This includes:

*  Integration of the former Broadway and Bourne Publicity sales forces into one
   and the creation of a single 4imprint catalogue
*  Consolidation of the Bourne trade print operation into Product Source in
   Manchester
*  Combining the corporate programme fulfillment centers at Broadway and Bourne
   into one facility in Whitefield
*  Closing the HQ office in Beverley and relocating it to Whitefield

Reorganisation costs of £1.4 million are included in the Exceptional items
charge of £45.884 million. The Group Company balance sheet is strong with £20
million of net cash.

Dividend

In light of the fundamental restructuring of the Group the Board have also
reviewed the dividend policy. The growth characteristics and cash
requirements of the Group going forward are significantly different from when
it was dominated by the printing companies.

Accordingly, the Board will implement a new dividend policy based on a payout
covered approximately 3x by earnings. This will be introduced in the coming
year beginning with the 2001 interim dividend (payable November 2001).

Notwithstanding this new dividend policy, the Board is proposing a final
dividend for 2000 of 12.2p (payable May 2001) making a total of 18.65p for
the year.

Corporate Programmes

In the UK, the Group continues to build on its industry leading position in
corporate programmes with a number of new account wins against no losses.
These new programmes include BAE Systems, NTL, AMEC, Airproducts, Unisys,
Exel, Worldspan and Nortel.

In July the Group entered into an agreement with the corporate sales division
of Lands' End, one of the world's largest direct marketers of clothing and
one of the leaders in the corporate embroidered apparel segment in the US. To
date we have participated with them in programmes for General Motors' Saturn
division and the American International Automobile Dealers Association and
its 7,000 members. Contracts of this nature take time to develop but
nevertheless discussions are underway to explore ways to move forward more
quickly.

In the meantime, we continue to make good progress in the US with other
corporate programmes and have achieved contracts with Kinko's, Crawford
Company, AMEC (UK and US), and Kaytee and are making further inroads in our
relationship with the Kohler Company.

Direct Marketing

Catalogue sales grew 11% and on-line ordering activity was up substantially.
We continue to have the most robust web site in our industry now featuring
over 3,000 products that can be ordered online in the US, accounting for
17-20% of our intake on a weekly basis compared to 3% this time last year. We
launched our fully transactional UK web site mid-year and Internet order
volume is increasing strongly here as well. We have added a number of
significant enhancements to our corporate programme web offering as well
which include real-time viewing of inventory levels so clients can actually
'see what's on the shelf' and automatic order and package tracking. As more
of our corporate programme clients continue to migrate to the Internet, our
processing costs continue to decrease.

Significant Acquisition Taps Into $10 Billion+ Market Segment

We have long looked for a way to leverage our technological and order
processing leadership into the largest segment of the US promotional products
industry, that is the two-thirds of the $15 billion market that is served by
salespeople calling face-to-face on end user buyers.

To gain access to this part of the market, the Group acquired Adventures in
Advertising Franchise, Inc. (AIA) for $12.75 million plus debt effective 30
December 2000 from founder Dan Carlson and his brother Kurt. In the past
three years AIA has billed on behalf of their franchisees $22 million, $44
million and $93 million and has become by far the largest franchisor in our
industry with a network of over 400 franchise owners.

Critical to sustaining their very rapid growth was the need to acquire the
processing technology to support their business on a larger scale.
Additionally, capital to fund the growth was also needed. Consequently, this
near-perfect match between their needs and our resources culminated in our
acquisition of AIA.

Unlike traditional distributor operations in the industry, AIA does not
employ its own sales force. Each of its 400+ franchise owners is just that,
an independent business owner. Each pays his/her own expenses. The main
benefits they receive from being a franchise owner are training, access to
group buying power (which is now significantly enhanced as a result of the
acquisition) and, since AIA handles all billings and payments to vendors for
the franchise owners, the owners have the freedom to spend more time with
customers and make more sales because AIA is taking care of the 'back office
chores'.

Acquisition will spur Corporate Programmes and Premium Divisions

As a result of some operating constraints on the business, AIA was able to
offer very limited corporate programme support to its franchise owners. These
services will now be significantly enhanced and fully supported from our
distribution facility in Oshkosh. Additionally, the Group's extensive 20-year
experience in providing large quantity import orders through our PPI division
and their Hong Kong office will be a valued resource for the franchise owners
and their salespeople.

An AIA version of OASIS, our bespoke enterprise operating system, will be
installed throughout the franchise network as soon as practically possible.
Also, Dan and Kurt Carlson will remain with the Group on long-term contracts.

Outlook

Our UK companies have made a good start to the year and future prospects are
solid. We would be remiss not to view the current economic situation in the
US with caution but note that in previous recessionary periods the Group has
been able to achieve market share gains. Our on-line ordering activity
continues to accelerate and with our 100,000+ catalogue customer base we are
well diversified across all industries. Good progress is being made on the
integration of AIA into the 4imprint enterprise operating system. Billings by
AIA on behalf of their franchisees are up more than 40% on 2000, in line with
expectations at the time of acquisition.

                                                             
  4imprint Group plc                       
  GROUP CONSOLIDATED PROFIT & LOSS ACCOUNT 
  Full Year Ended 30 December 2000         
                                                                         
                      Continuing Discontinued Exceptional     2000       1999 
                      operations  operations      items  Unaudited    Audited
                                                                              
                           £'000      £'000      £'000       £'000       £'000

  Turnover                88,032     28,646          -     116,678     180,295
  Change in stocks of      1,646      5,986          -       7,632         638
  finished goods and                                                          
  work                                                                        
  in progress                                                                 
                          89,678     34,632          -     124,310     180,933
  Operating expenses    (85,589)   (38,351)          -   (123,940)   (168,820)
  excluding                                                                   
  amortisation                                                                

  Operating profit         4,089    (3,719)          -         370      12,113
  before amortisation                                                         
  Goodwill                 (277)          -          -       (277)       (250)
  amortisation                                                                
  Operating                3,812    (3,719)          -          93      11,863
  profit/(loss)                                                               
  Exceptional items            -          -   (45,884)    (45,884)       1,600
  Net interest               704          -          -         704       (803)
  receivable/(payable)                                                        

  Profit/(loss) on         4,516    (3,719)   (45,884)    (45,087)      12,660
  ordinary activities                                                         
  before tax                                                                  
  Tax on                                                     (275)     (3,842)

  (loss)/profit on                                                            
  ordinary activities                                                         
  (Loss)/profit for                                       (45,362)       8,818
  the financial year                                                          
  Dividends                                                (5,350)    (48,252)

  Transfer from                                           (50,712)    (39,434)
  reserves                                                                    

  Loss per ordinary                                                           
  share                                                                       
  Basic                                                  (160.84)p      26.28p
  Diluted                                                (160.83)p      26.21p
                                                                              
  These financial statements should be read in conjunction with the notes     
  attached                                                                    

4imprint Group plc
GROUP CONSOLIDATED BALANCE SHEET  
At 30 December 2000 

                                                                              
                                                     2000                 1999
                                                Unaudited              Audited
                                         £'000      £'000     £'000      £'000
  Fixed assets                                                                
  Goodwill                              17,325                5,447           
  Tangible                               4,742               27,401           
  Investments                               76                  483           
                                                   22,143               33,331
  Current assets                                                              
  Stocks                                 5,732               13,134           
  Debtors                               46,640               54,181           
  Cash                                  28,110                3,208           
                                                   80,482               70,523
  Current liabilities                                                         
  Loans & overdrafts                     8,106                3,595           
  Trade creditors                       15,101               19,024           
  Corporation tax                        4,947                4,809           
  Finance leases                             7                  213           
  Other creditors                       17,690               14,398           
  Dividends                              3,501                3,427           
                                                 (49,352)             (45,466)
  Net current assets                               31,130               25,057

  Pension cost prepayments                              -               11,631

  Total assets less current                        53,273               70,019
  liabilities                                                                 

  Creditors due after more than                                               
  one year                                                                    
  Other                                  5,221                   35           
  Finance leases                             -                    4           
                                                  (5,221)                 (39)
  Provisions for liabilities and                  (2,207)              (6,158)
  charges                                                                     

  NET ASSETS                                       45,845               63,822

  Capital and reserves                                                        
  Ordinary share capital                11,044               10,834           
  Preference share capital                   -                  208           
  Share premium                         37,630               36,113           
  Capital redemption reserve               208                    -           
  Revaluation reserve                       49                4,288           
  Profit & loss account                (3,086)               12,379           

  SHAREHOLDERS' FUNDS                              45,845               63,822

  NET CASH/(DEBT)                                  19,997                (604)

  GEARING                                             N/A                   1%


4imprint Group plc
RECONCILIATION OF MOVEMENT IN SHAREHOLDERS' FUNDS
Full Year Ended 30 December 2000 

                                                                              
                                                               2000       1999
                                                          Unaudited    Audited
                                                              £'000      £'000

  Profit for the financial year                            (45,362)      8,818
  Dividends                                                 (5,350)   (48,252)
                                                           (50,712)   (39,434)
  Other recognised gains and losses relating to the           (374)      (246)
  period                                                                      
  Surplus on revaluation                                          -        536
  Shares issued in the period                                 1,727      1,499
  Redemption of preference share capital                      (208)          -
  Goodwill reinstated on disposal of subsidiaries            31,590     42,554
  Goodwill adjustment relating to previous acquisitions           -       (47)
  Net movement in shareholders' funds                      (17,977)      4,862
  Opening shareholders' funds                                63,822     58,960
  Closing shareholders' funds                                45,845     63,822


4imprint Group plc
CONSOLIDATED SUMMARISED CASHFLOW STATEMENT
Full Year Ended 30 December 2000 

                                                                           
                                                            2000       1999
                                                       Unaudited    Audited
                                                           £'000      £'000
    Cashflow from operating activities                                     
    Operating profit and other non cash movements          3,799     17,896
    Exceptional reorganisation costs paid                (1,256)          -
    Movement in stocks                                   (6,350)    (1,699)
    Movement in debtors                                   11,617      3,074
    Movement in creditors                                (7,230)    (2,477)
    Expenditure against provisions                         (397)       (16)

    Net cash inflow from operating activities                183     16,778

    Returns on investments and servicing of finance          772    (1,256)
    Taxation                                               (797)    (3,258)
    Capital expenditure                                  (4,745)    (6,705)
    Disposals                                             37,672     74,451
    Acquisitions                                         (1,863)    (6,589)
    Equity dividends paid                                (5,272)   (49,688)
    Issue and redemption of shares                         1,689        569
                                                          27,639     24,302
    Debt acquired with subsidiaries                      (7,139)      (150)
    Finance leases disposed of                                31        386
    Translation difference                                    70      (203)
    Movement in net debt in the period                    20,601     24,335
    Opening net debt                                       (604)   (24,939)
    Closing net cash/(debt)                               19,997      (604)
 

 
4imprint Group plc
NOTES TO THE PRELIMINARY ANNOUNCEMENT
Full Year Ended 30 December 2000 

                                                                              
  1    Basis of Preparation                                                   
       This preliminary announcement for the year ended 30 December 2000 has  
       not been audited and does not constitute statutory accounts within the 
       meaning of S240 of the Companies Act 1985. The financial information   
       has been prepared on the basis of the accounting policies set out in   
       the Group's Annual Report & Accounts for the year ended 1 January      
       2000. These accounts carry an unqualified auditor's report, and have   
       been delivered to the Registrar of Companies. The comparative results  
       for the year ended 1 January 2000 are abridged, and as such do not     
       represent statutory accounts. The full Annual Report & Accounts for    
       the year ended 30 December 2000 will be posted to shareholders shortly 
       and, after adoption at the Annual General Meeting, delivered to the    
       Registrar of Companies.                                                
                                                                              
  2    Segmental Analysis                        2000                    1999 
                                   Sales    Op Profit        Sales   Op Profit
                                   £'000        £'000       £'000       £'000 
       ORIGIN                                                                 
       United Kingdom             51,821        1,730      42,166         605 
       United States              36,211        2,082      29,738       2,924 
       Discontinued               28,646      (3,719)     108,391       8,334 
       Businesses                                                             
                                 116,678           93     180,295      11,863 
       PRODUCT                                                                
       Promotional Marketing      88,032        3,812      71,904       3,529 
       Discontinued               28,646      (3,719)     108,391       8,334 
       Businesses                                                             
                                 116,678           93     180,295      11,863 

  3    Exceptional Item                                      2000        1999 
                                                            £'000       £'000 

       Loss on Class 1                                   (20,029)           - 
       disposal (Bemrose                                                      
       Security Printing and                                                  
       Henry Booth Group)                                                     
       Loss on disposal of                               (24,466)       (102) 
       other subsidiaries                                                     
       Costs of fundamental                               (1,389)           - 
       reorganisation                                                         
       Net release of                                           -       1,973 
       provision for loss on                                                  
       sale of US Supplier                                                    
       businesses                                                             
       Closure costs relating                                   -       (271) 
       to Meridian                                                            
       Promotional Products                                                   
       BV, Holland                                                            
                                                         (45,884)       1,600 
                                                                              
  The current year losses on the disposal of businesses include costs of      
  £31,590,000 relating to goodwill previously written off against reserves.   
                                                                          
      4    Taxation                                        2000      1999 
                                                          £'000     £'000 

           United Kingdom                               (1,331)     2,605 
           Overseas                                       1,606       245 
           Exceptional items                                  -       992 
                                                            275     3,842 


      5    Dividends                                       2000      1999 
                                                              p         p 

           Interim dividend (paid 13 November 2000)        6.45      6.45 
           Final dividend                                 12.20     12.20 
           Special dividend (paid 24 May 1999)                -    100.00 
                                                          18.65    118.65 
                                                                              
       The final dividend in respect of 2000 of 12.20p will be paid on 25th   
       May 2001 to shareholders on the Register at close of business on       
       27th April 2001.                                                       
  6    Loss per share (EPS)                                                   
       The loss per share calculation is based on losses after tax and        
       preference dividends of £45,366,000 (1999 : Profit - £8,802,000), and  
       weighted average shares in issue of 28,205,000 (1999 : 33,493,000).    
       The diluted loss per share is based on the same loss and profit        
       figures as above, but takes into account the dilutive effect of share  
       options outstanding, which leaves the weighted average number of       
       shares in issue of 28,207,000 (1999 : 33,586,000).