Stmnt re Share Price Movement

Milestone Group PLC
28 August 2003

For Immediate Release                                             28 August 2003


                              MILESTONE GROUP PLC

                    Statement regarding Share Price Movement


The Directors of Milestone Group plc are surprised and concerned with the recent
share price performance and commentary in the press, both of which, in view of
the Directors, have no correlation with the operational performance of the
business.  Milestone would like to confirm that current trading is in line with
management expectations and that the strategy, outlined in the flotation
prospectus (published on 26 June 2003), of becoming a significant player in
local television, local publishing and local radio remains on track.


For further information please contact:


Andy Craig                                                  Tel: [phone]
Chief Executive, Milestone Group

Bobby Morse                                                 Tel: [phone]
Buchanan Communications



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