Trading Statement

4imprint Group PLC
21 January 2004


Press Release                                           21 January 2004

                               4imprint Group plc

                         ('4imprint' or 'the Company')

                               Trading Statement


4imprint Group plc, the marketing support services and promotional products
group, issues the following statement in advance of its Preliminary Results for
the year ended 27 December 2003, which are scheduled for announcement on 31
March 2004.


Highlights:


Restructuring

4imprint has instigated a plan for 2004 which focuses on development of its
market leading businesses and the redeployment of capital from its weaker ones.
In this regard, the Board has decided to make provisions of approximately £4.5
million, principally in connection with the assets and debts of Adventures in
Advertising ('AIA').  The majority of these provisions are of a non-cash nature.


2003 Performance

The Company expects that pre-tax profits before the amortisation of goodwill and
the charges set out above will be slightly ahead of market expectations.


Outlook

4imprint has been an early beneficiary of the upturn in the advertising and
marketing cycle.  Order levels were up in the last quarter of 2003 compared to
the same period in 2002.  The Company's outlook is optimistic and it is
confident of significant progress in 2004.


4imprint has restructured to focus on its most profitable, best positioned
business units and plans to redeploy cash from those with weaker market
positions.  These weaker businesses, which include AIA and US Corporate
Programmes, represented approximately 15% of 2003 sales but employ a
disproportionate amount of the Company's capital.  As a result of these changes,
the Board has decided to make additional provisions of approximately £3.5
million in respect of AIA, in particular its debtors and asset write downs; as
well as approximately £1.0 million of provisions that include, amongst other
items, a change of direction in US Corporate Programmes, which is being
rationalised to reduce the cost and capital tied up in its inventory and
fulfilment infrastructure.  New models for servicing some of the relevant
clients are being piloted in 2004.

As a result of additional steps taken in the second half of 2003, AIA is
currently trading at a moderate profit compared to substantial losses in each
year since its acquisition in January 2001.  Following the above decisions and a
review of the carrying value of each of the Company's investments, 4imprint will
write off the goodwill associated with AIA of US$12.5 million.  This is a
non-cash adjustment.  The Board is now considering its options for AIA having
established the current basis of operating performance.

4imprint expects pre-tax operating profits for 2003 to be slightly ahead of
current market expectations, excluding the above costs of approximately £4.5
million.

The core of the Company's business is in two market segments: Direct Marketing
of promotional products through the web and by catalogue; and the provision of
Marketing Support Services, to largely blue chip corporates, by the supply of
products and services for their promotional campaigns.  These segments
represented approximately 35% and 60% of 2003 sales respectively.

The Company's businesses have been favourably impacted by changes made to the
business over the past year, along with the upturn in the US and UK advertising
markets.  Excluding AIA, the US business, which is predominantly Direct
Marketing, saw the number of orders in the fourth quarter of 2003 increase by 6%
and the value of orders by 3% over the same period in 2002.  The UK business,
which is predominantly Marketing Support Services, saw order numbers increase by
23% and their value by 21% over the same period.  Most significantly, this
compares with a trend in the prior year of falling orders.  In the final quarter
of 2002 compared to 2001, the number of orders dropped by 19% in the US and by
14% in the UK which accompanied a similar trend in order values.  Order intake
is a leading indicator for the business and the reversal of this trend supports
indications of a healthy market turnaround.

Edward Bramson, Chairman of 4imprint Group plc, said: 'A combination of having
completed the first phase of cost cutting and restructuring, as well as the
early indications of a continued upward sales trend, make us highly confident
about 2004.

'The Company is taking additional steps during 2004 to reduce both central and
operating costs whilst emphasising growth in the more profitable and cash
generative parts of the business.  As 2004 progresses, the Board will consider a
positive change in dividend policy and also expects to benefit from a reduced
tax charge.'

                                    - Ends -


For further information, please contact:

4imprint Group plc
Edward Bramson, Chairman                               Tel: [phone]


Issued by:
Bankside
Henry Harrison-Topham / Heather Salmond                Tel: [phone]
Email: [e-mail]                                    www.bankside.com


Notes to editors:

4imprint Group plc (LSE: FOUR) is a leading international company in the highly
fragmented US$30 billion promotional products industry.  Globally, the Company
is the largest direct marketer of imprinted promotional products and the fourth
largest distributor.  In the UK, 4imprint is the leading marketing support
services company in the industry.

4imprint's businesses operate in three areas:

•    Marketing Support Services provides outsourced services and promotional 
     products for blue-chip companies in their brand development and marketing 
     activities;

•    Direct Marketing which sells promotional products directly to businesses 
     through the internet and catalogues; and

•    AIA, a US and Canada franchise network distributing promotional products.

The Company's blue-chip roster of clients includes, amongst others, BT, British
Airways, IBM, JCB and Motorola, Microsoft, and other leading companies which use
promotional products to build their brand and increase customer loyalty.

The Group headquarters is in Whitefield with other UK facilities in Manchester,
London and Bristol.  4imprint's US offices are located in Oshkosh, Wisconsin.
In addition, 4imprint has operations in France, Germany, and Hong Kong.


Websites:

www.4imprint.com
www.4imprint.co.uk
www.4imprint.ie
www.4imprint.com/canada


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