Trading Statement

Braemar Seascope Group PLC
27 January 2004


                           BRAEMAR SEASCOPE GROUP PLC
                                 TRADING UPDATE

Braemar Seascope Group plc (the 'Group'), a leading provider of shipping
services, announces an update on current and expected trading.

Trading during the second half of the financial year has been very encouraging
driven by the strength across all sectors of the shipping markets.

In the Wet freight market we have seen significant volatility in rates over the
last year. However, the average level of rates has been considerably ahead of
the previous year and in the last two months the market has been sustained at
high levels. In the Dry Bulk market freight rates started to rise substantially
six months ago and have continued to climb to levels not seen before. The upturn
in several leading economies and, in particular, the growth of the Chinese
economy, is driving the demand for seaborne trade and boosting both of these
shipping sectors. The Company has also been able to conclude some significant
sale and purchase business some of which we currently expect will be deliverable
before the end of the financial year.

As a result, and despite the weaker US dollar, the Directors believe that the
trading performance of the Group for the full year will be materially ahead of
current market expectations.

27 January 2004

ENDS

For further information, contact:
Braemar Seascope Group plc
     Alan Marsh                                            Tel [phone]
     James Kidwell                                         Tel [phone]
Aquila Financial
     Patrick d'Ancona                                      Tel [phone]
     Peter Reilly                                          Tel [phone]
Charles Stanley & Company Limited
     Rupert Dearden                                        Tel [phone]
     Philip Davies                                         Tel [phone]


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