Holding(s) in Company

Character Group PLC
30 June 2004





Issued by Citigate Dewe Rogerson Ltd, Birmingham
Date: Wednesday, 30 June 2004
                                                               IMMEDIATE RELEASE

The issuer advises the following replaces the holding in company announcement
released on 28 June 2004 under RNS number 2165A. Please be advised that the
total interest of ordinary shares should have been '5,045,000 ordinary shares of
5p each representing approximately 9.57% of the issued ordinary share capital'
and not '5,000,000 ordinary shares of 5p each and 9.5% of the issued ordinary
share capital' as previously stated.

All other details remain unchanged. The full amended text appears below:

          The Character Group plc ('Company' or 'The Character Group')
  Mittel Generale Investmenti S.p.A. ('Mittel') takes a stake of 9.57% in the
                                    Company

The Company received notifications that on 25 June Mittel has purchased from
Valtidone S.p.A., 5,000,000 ordinary shares of 5p each of the Company ('Ordinary
Shares') in an 'off market' transaction.

Following these transactions, Valtidone S.p.A. has a notifiable interest of
2,030,000 Ordinary Shares, representing 3.85% of the issued share capital of the
Company, and Mittel has a notifiable interest of 5,045,000 Ordinary Shares,
representing approximately 9.57% of the issued ordinary share capital of the
Company.

Valtidone has informed the Directors that it has now completed its share
disposal programme, and intends to keep its current interest for the foreseeable
future as a long term investment.

Mittel, which was founded in 1885 and listed in the same year, is the oldest
investment bank listed on the Italian Stock Exchange. It specialises in
strategic investments and investment banking in both the public and private
markets.

Dr Guido de Vivo, CEO of Mittel, stated: 'The investment in The Character Group
is consistent with Mittel's policy of investing in companies that are well
managed, the management have a significant shareholding, and where the shares
are perceived to be undervalued'

Richard King, Chairman of The Character Group commented:
'We are delighted to have Mittel as our first really significant investor from
the financial markets. I believe that Mittel's broad range of expertise and
their desire to be proactive in helping the Company to take advantage of any
opportunities to grow either organically or through acquisition, will enable the
management to assess new opportunities with a more confident approach.'

Enquiries:
Richard King, Chairman                          Fiona Tooley
Kiran Shah, Group Finance Director              Citigate Dewe Rogerson
The Character Group plc                         Tel: [phone]
Tel: [phone]                              Mobile: [phone]
Mobile: [phone] (RK)
Mobile: [phone] (KS)
www.charactergroup.plc.uk

Dr Guido de Vivo
Mittel S.p.A.
Tel: [phone]




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