Transaction in Own Shares

Character Group PLC
02 May 2007


The Character Group plc

2 May 2007


The Character Group plc (the 'Group' or 'Company')

Transaction in Own Shares

As part of the Group's stated objective to enhance shareholder value, the
Company advises that it has yesterday purchased in the market through Charles
Stanley Securities 500,000 ordinary shares in the Company at a price of 199.5
pence per share. This represents approximately 1.1% of the issued share capital
of the Company (excluding shares held in treasury). 20,678 of the shares
repurchased will be held in treasury and the remaining 479,322 shares will be
cancelled.

After purchasing such shares as were available in the market and in order to
satisfy the Company's requirement for such buy-back, the trustees of The TOPS
Pension Scheme (the 'Pension Fund') agreed to sell in the market 300,000 shares
at a price of 199.5 pence per share.   Richard King, Kiran Shah and Jon Diver
(all directors of the Company) are interested in the Pension Fund by reason of
being trustees and beneficiaries of the Pension Fund. Following this sale, the
interests of the three directors are as follows:


                                                      Number of ordinary                        % of issued
                                                       shares of 5p each                      share capital
Director                                                                                         (excluding
                                                     ('Ordinary Shares')                   treasury shares)

R. King 1                                                      3,845,428                              8.57%
K.P. Shah 2                                                    5,645,000                             12.58%
J.J. Diver                                                     1,690,640                              3.77%

The Trustees of the TOPS pension fund 3                          425,000                              0.95%
Orbis Pension Trustees Limited 4                                 285,000                              0.64%


Notes:

1.             included in the interests of R. King are his interests in
1,885,428 Ordinary Shares/voting rights held by Cedarberg Investments Limited
and 320,000 Ordinary Shares/voting rights held by his spouse, Mrs M.H. King;

2.             included in the interests of K.P. Shah are the interests of
Sarissa Holdings Limited in 5,620,000 Ordinary Shares/voting rights;

3.             each of R. King, K.P. Shah and J.J. Diver are beneficiaries under
these pension scheme arrangements and are each, accordingly, interested in the
pension scheme's holding of Ordinary Shares/voting rights;

4.             Orbis Pension Trustees Limited is the Trustee of the Company's
Employee Share Ownership Trust. Each of R. King, K.P. Shah,  and J.J. Diver is
deemed to be interested in such Ordinary Shares/voting rights by virtue of being
within the class of beneficiaries defined by such Trust.


Following these transactions, the Company has 44,857,513 ordinary shares in
issue (excluding 1,000,000 ordinary shares in the Company held in Treasury).

The Directors will continue to monitor the position and will, if appropriate,
make further purchases of the Company's own shares.


Enquiries:

The Character Group Plc           Charles Stanley Securities           Citigate Dewe Rogerson Ltd
Richard King / Kiran Shah          Philip Davies                       Fiona Tooley

Tel: [phone]                Tel: [phone]                   Tel: [phone]



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