Transaction in Own Shares

Character Group PLC
30 November 2006


30 November 2006

                   The Character Group plc (the 'Group' or 'Company')
                              Transaction in Own Shares

The Company advises that it has yesterday purchased 1,000,000 ordinary shares in
the Company for cancellation in the market through Charles Stanley Securities,
representing approximately 2.19% of the issued share capital of the Company
(excluding shares held in treasury), at a price of 102 pence per share.

These purchases follow on from the purchase by the Company of 1,696,000 ordinary
shares in the Company disclosed yesterday and brings the total number of shares
in the Company purchased by the Company in the last 48 hours to 2,696,000,
representing approximately 6.03% of the current issued share capital (excluding
shares held in treasury).  Since June 2006, the Company has bought back in total
8,515,322 shares representing approximately 19.04 % of the current issued share
capital (excluding shares held in treasury).

Following these transactions the Company has 44,720,837 ordinary shares in issue
(excluding the 1,754,322 ordinary shares in the Company held in treasury).

As part of the Group's stated objective to enhance shareholder value through the
repurchase of its own shares, the Directors have been monitoring the Company's
share price following the preliminary announcement of the Group's results
announced on Tuesday morning. The Board considered that the conditions were
right at this time to conduct a significant buy-back of the Company's shares. 
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') and Richard King, the Executive Chairman of
the Company, agreed to sell in the market 1,000,000 and 1,500,000 shares
respectively at a price of 102 pence per share.  Following such sales:

1.  Richard King now has an interest in 3,845,428 shares in the Company,
    representing 8.6% of the current issued share capital of the Company 
    (excluding his interests in the Pension Fund); and

2.  the Pension Fund now holds 725,000 shares in the Company, representing 1.62% 
    of the current issued share capital of the Company.  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.

Enquiries:

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

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





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