AGM Statement

Bloomsbury Publishing PLC
28 June 2001

Bloomsbury Publishing plc

28th June 2001

                                AGM Statement

At the AGM of Bloomsbury Publishing plc, being held at their London offices at
12.00 noon Thursday 27 June 2001, Chairman Nigel Newton will make the
following statement:

STATEMENT

I am delighted to say that Bloomsbury Publishing continues to show strong
growth across its areas of activity. On the basis of the group's performance
in the year to date, we will exceed, by a substantial margin, last year's
first half turnover and operating profit, as well as beat our own internal
forecasts.


Bloomsbury USA is rapidly establishing itself as a significant revenue
generator for the group. Alan Wherry, one of the original founders of
Bloomsbury, has now relocated to New York to develop the US operation through
its next stage of organic growth. A key part of this strategy, which I am
pleased to announce today, is the formation of a new US children's publishing
operation, which will start commissioning books later on this year for
publication from 2002. It will operate on the same basis as the Bloomsbury USA
adult division, and will build upon the tremendous success of our children's
division in the UK. It is anticipated that this will become a significant
business in the years ahead.


I am also pleased to announce our new audio publishing list, which will
publish audio books on tape and CD by our major authors. The audio book market
in the UK is growing at a rate of 10% a year with demand from customers across
all age ranges.


We have already started developing and exploiting A&C Black's huge library of
content. One of our objectives is to increase significantly sales in export
markets. As a result of this drive, new distribution contracts have already
been signed for Australia, New Zealand, Canada, Continental Europe, the Far
East and South America. These will take effect later this year. There will be
some benefit in 2001 but the full effect of this new selling power will be
seen in 2002.


Negotiations are also in progress for sub-licensing the non-exclusive
electronic rights to the Who's Who electronic database. The Electronic Media
and Reference Division is also now in the process of planning the development
of an exciting fourth electronic database.


The book division has just seen Anthony Bourdain's Kitchen Confidential spring
into the Sunday Times Paperback Bestseller list in the Number 7 position. The
paperback is also in the US bestseller list. There is also keen anticipation
of the launch of John Irving's brilliant new novel, The Fourth Hand, on 7th
July, which is likely to be one of the most read books on holiday this summer.


The next major event will be the publication for the first time on 6th July of
the paperback edition of Harry Potter and the Goblet of Fire, last summer's
hardcover sensation. We have already launched in the UK a range of Harry
Potter merchandise, including diaries, address books and personal organisers.
Sales of the books continue at a phenomenal rate with Harry Potter and the
Philosophers' Stone having now been in the Booktrack bestseller list for 208
weeks. The series has proved to be an invaluable tool in developing new
business in export markets. With the film of the first book due to be launched
on 16th November, we expect sales of the series and the merchandise to
continue to grow rapidly.


For further information:

Simon Forrest, Impact Consultancy:          020 7 479 4770

Pippa Kidson-Trigg, Impact Consultancy:      020 7 479 4773