Final Results - Year Ended 30 April 2000

Colefax Group PLC
19 July 2000

                              PRELIMINARY RESULTS
                         FOR THE YEAR TO 30 APRIL 2000
                                       
 Colefax Group is a leading international designer and distributor of fabrics
 and wallpaper. In addition, it owns a leading interior decorating subsidiary.
                                       
 Portfolio of five major fabric brands: 'Colefax and Fowler', 'Cowtan & Tout',
                'Jane Churchill', 'Manuel Canovas' and 'Larsen'

                                  Key Points

 * Pre-tax profit, before exceptional item of £358,000, increased by 10% to
   £5.1m (1999: £4.6m)

 * Underlying earnings per share rose by 8% to 12.5p (1999: 11.6p)

 * Proposed final dividend of 1.90p (1999: 1.83p) making a total for the
   year of 3.15p, a rise of 5%

 * Strong sales in US, the Group's principal market (57% of Product Division's
   turnover)

 * Sales in UK (21% of Product Division sales) strengthened over the second
   half while trading in Continental Europe (19% of Product Division sales)   
   was level with last year on a like-for-like basis

 * Good performance from Interior Decorating Division although below last
   year's exceptional level

 Commenting on the results and prospects, David Green, Chairman, said,

 'I am delighted to report on another good performance... The strength and
 diversity of our brands combined with the broad geographical spread of our
 markets have been the principal reason for the Group's successful results.

 The Group is continuing to concentrate on the development of its five core
 fabric brands .. and is particularly well placed to take advantage of growth
 opportunities across all its geographical markets.'
                                     
 Enquiries:

 Colefax Group plc   David Green, Chairman              T: 020 7464 4280
 Biddick Associates  Zoe Biddick/ Katie Tzouliadis      T: 020 7464 4280


 CHAIRMAN'S STATEMENT

 I am delighted to report on another good performance for the Group. The
 strength and diversity  of our brands combined with the broad geographical
 spread of our markets have been the principal reason for the Group's
 successful results.

 Financial Results

 Group pre-tax profit for the year to 30 April 2000, excluding an exceptional
 item of £358,000 relating to an abortive acquisition, increased by 10% to    
 £5.1 million (1999: £4.6 million) on sales slightly lower at £63.9 million   
 (1999: £64.6 million). The 1% reduction in sales was mainly due to lower     
 sales from the Interior Decorating Division following an exceptional year in 
 1999, and the rationalisation of the Manuel Canovas product range. Underlying
 earnings per share rose by 8% to 12.5p (1999: 11.6p). Group net borrowings at
 the year-end were £5.6 million which represents gearing of 49% to net assets.
 During the year, the Group purchased and cancelled 1.92 million Colefax Group
 plc shares, representing 6.7% of the issued share capital, at a total cost of
 £1.73 million.

 The Board has decided to recommend a final dividend of 1.90p per share (1999:
 1.83p), making a total for the year of 3.15p (1999: 3.0p), a rise of 5%.     
 The final dividend will be paid on 10 October 2000 to shareholders on the    
 register at the close of business on 15 September 2000.

 Product Division - Portfolio of Brands: 'Colefax and Fowler', 'Cowtan &      
 Tout', 'Jane Churchill', 'Manuel Canovas' and 'Larsen'

 Sales in the United States increased by 10% on a like-for-like basis over    
 the period and this market now represents 57% of the Product Division's      
 turnover. This strong performance reflects good trading conditions throughout
 the US and the success of our new product introductions.  We have continued  
 to invest in upgrading our showrooms and later this year will be moving to a 
 larger showroom in San Francisco, which can accommodate all the Product      
 Division's brands. We are also planning major improvements to our agent      
 showroom in Boston. In Minneapolis, we have recently appointed a new agent,  
 which will strengthen our presence in the Mid-West.

 The UK, which represents 21% of Product Division turnover, increased its     
 sales by 5% during the year. The substantial part of this growth was seen in 
 the last six months and was attributable to an improvement in the market and 
 a very positive response to our new product launch in September. The most
 significant increase came from our Manuel Canovas brand which is now         
 beginning to show the benefits of its integration into our UK sales          
 operation.

 Sales in Continental Europe which represents 19% of the Product Division     
 were down 8% on local currencies and 16% in sterling terms. The reduction is 
 mainly due to the rationalisation of the Manuel Canovas product range and the
 closure of their retail accessories boutique. In January, we introduced the  
 first major Manuel Canovas collections since the company was acquired. The   
 European response to these collections has been extremely positive and we are
 optimistic about future growth prospects. In France, our largest market, we  
 have refurbished our Manuel Canovas showrooms in Paris and are currently     
 relocating the Colefax and Fowler and Jane Churchill showroom to the same    
 area, which we believe will help to improve sales.

 Our new Italian office in Milan is already starting to see a significant
 increase in sales and following a very successful exhibition at Incontri in
 January, we are confident of good growth in this important market. Like-for-
 like sales in Germany were flat and market conditions currently remain
 difficult.

 Sales in the rest of the world, which represent 3% of Product Division
 turnover, fell by 6% in the year. Australia and New Zealand account for the
 majority of sales in this territory. We are starting to see some improvements
 in these markets but progress continues to be affected by the strength of
 sterling.

 Furniture Division

 Sales were 4% up on last year and now represent 2.5% of total Group sales.   
 The market improved slightly in the second half of the year although trading 
 conditions are still difficult.

 Interior Decorating Division - 'Sibyl Colefax & John Fowler'

 This has been another good year for the Interior Decorating Division,        
 although its performance was below last year's exceptional level. This       
 Division now accounts for 13% of Group sales. Our decorators are currently   
 working on a number of significant commissions in the UK and the US and we   
 expect another good performance from the Division in the current year.

 Prospects

 The Group is continuing to concentrate on the development of its five core
 fabric  brands, which cover both classical and contemporary styles. The
 diversity of our brands mean that the Group is particularly well placed to
 take advantage of growth opportunities across all its geographical markets.
 The current year has started satisfactorily and, providing market conditions
 remain stable, I am confident of further progress during the coming year.


 David Green
 Chairman


 GROUP PROFIT AND LOSS ACCOUNT (unaudited)
 For the year ended 30th April, 2000


                               Notes       2000      2000      2000      1999
                                         Before                              
                                         Except    Except                    
                                          ional     ional
                                           Item      Item     Total     Total
                                                                  
                                          £'000     £'000     £'000     £'000
                                                                  
                                                                  
 Turnover                                63,923         -    63,923    64,556
                                                                  
 Cost of sales                           28,043         -    28,043    28,293
                                        _____________________________________ 
 Gross profit                            35,880         -    35,880    36,263
 Operating expenses                      30,337       358    30,695    31,056
                                        _____________________________________ 
 Operating profit                         5,543     (358)     5,185     5,207
                                                                              
 Interest                                 (434)         -     (434)     (572)
                                        _____________________________________ 
                                                               
 Profit on ordinary activities
 before taxation                          5,109     (358)     4,751     4,635
                                                                  
 Tax on profit on ordinary activities                                         
  - UK                                  (1,072)         -   (1,072)     (805)
  - Overseas                              (691)         -     (691)     (586)
                                        _____________________________________
                                        (1,763)         -   (1,763)   (1,391)
                                        _____________________________________
                                                                  
 Profit on ordinary activities
 after taxation                           3,346     (358)     2,988     3,244
 Dividends on equity shares               (791)         -     (791)     (836)
                                        _____________________________________
 Retained profit for the year             2,555     (358)     2,197     2,408
                                                       
 Basic earnings per share          1                          11.2p     11.6p
 Underlying earnings per share     1                          12.5p     11.6p
 Diluted earnings per share        1                          11.1p     11.6p 

 GROUP BALANCE SHEET (unaudited)
 At 30th April, 2000

                                                   2000      1999
                                                  £'000     £'000
 Fixed assets:                                                
                                                             
 Tangible assets                                  7,312     7,363
 Investments                                        419       419
                                                 ________________
                                                             
                                                  7,731     7,782
                                                 ________________
 Current assets:                                              
                                                             
 Stocks and contracts in progress                12,313    12,884
 Debtors                                          8,895     8,396
 Cash at bank and in hand                         1,139     1,554
                                                 ________________
                                                             
                                                 22,347    22,834
                                                 ________________
 Creditors: amounts falling due               
 within one year                                 15,408    15,115
                                                 ________________
                                                             
 Net current assets                               6,939     7,719
                                                 ________________
                                                             
 Total assets less current liabilities           14,670    15,501
                                                 ________________
                                                             
 Creditors: amounts falling due                
 after one year                                   2,995     3,831
                                                             
 Provisions for liabilities and charges                              
                                                             
 Deferred taxation                                   81       285
                                                 ________________
                                                             
                                                 11,594    11,385
                                                 ________________
 Capital and reserves:                                        
                                                             
 Called up share capital                          2,661     2,853
 Share premium account                           11,055    11,055
 Capital redemption reserve                         192         -
 Profit and loss account                        (2,314)   (2,523)
                                                _________________
                                                             
 Equity shareholders' funds                      11,594    11,385
                                                _________________

 GROUP CASH FLOW STATEMENT (unaudited)
 For the year ended 30th April, 2000

                                                   2000      1999
                                                  £'000     £'000
                                                                  
 Net cash inflow from operating                    
 activities                                       7,251     5,332
                                                                  
 Returns on investments and servicing                              
 of finance
                                                                  
 Interest received                                   77        30
 Interest paid                                    (512)     (601)
                                                 ________________
                                                  (435)     (571)
                                                                  
 Taxation                                                          
 UK corporation tax paid                          (716)     (556)
 ACT paid                                             -     (192)
 Overseas tax paid                              (1,005)     (763)
                                                _________________
                                                (1,721)   (1,511)
 Capital expenditure and  financial                           
 investment
 Payments to acquire tangible fixed               
 assets                                         (2,443)   (3,513)
 Receipts from sales of tangible fixed                  
 assets                                               6       101
                                                _________________
                                                (2,437)   (3,412)
                                                                              
 Equity dividends paid                            (809)     (800)
                                                _________________
                                                                  
 Cash inflow/(outflow) before financing           1,849     (962)
                                                                  
 Financing                                                         
 Issue of ordinary share capital                      -        94
 Share buy back                                 (1,734)         -
                                                _________________
 Net cash (outflow)/inflow from financing       (1,734)        94
                                                _________________
                                                                  
 Increase/(decrease) in cash in the period          115     (868)
                                                _________________
                                                                  

 GROUP STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES (unaudited)
 For the year ended 30th April, 2000

                                                   2000      1999
                                                  £'000     £'000
                                                                  
 Profit for the financial year                    2,988     3,244
 Currency translation differences on                               
 foreign currency net investments                 (254)     (164)
                                                 ________________
 Total recognised gains and losses                  
 relating to the year                             2,734     3,080
                                                 ________________
                                                                  
 NOTES

 1. Basic earnings per share have been calculated on the basis of earnings of 
    £2,988,000 (1999 - £3,244,000) and on 26,679,207 (1999 - 27,855,519)      
    ordinary shares, being the weighted average number of ordinary shares in  
    issue during the year.

    Underlying earnings per share which exclude exceptional items have been   
    calculated on the basis of earnings of £3,346,000 (1999 - £3,244,000) and 
    on 26,679,207 (1999 - 27,855,519) ordinary shares, being the weighted     
    average  number of ordinary shares in issue during the year.
  
    Diluted  earnings per share have been calculated on the basis of earnings 
    of £2,988,000 (1999 - £3,244,000) and 26,832,091 (1999 - 27,957,094)   
    being the weighted average number of shares in issue during the year 
    adjusted to assume conversion of all dilutive potential ordinary shares, 
    152,884 (1999 - 101,575).

    All earnings per share calculations exclude the shares owned by the       
    Colefax Group plc Employees' Share Ownership Plan (ESOP) Trust.           
    Dividends on these shares have been waived.
  
 2. The profit and loss account and balance sheet for the year ended 30 April 
    1999 is an extract from the latest published financial statements that    
    have been delivered to the Registrar of Companies and on which the        
    auditors' report was unqualified and did not contain a statement under    
    either Section 237 (2) or 237 (3) of the Companies Act 1985.
   
 3. The figures for the year ended 30 April 2000 are unaudited and do not     
    constitute full accounts within the meaning of Section 240 of the         
    Companies Act 1995. These financial statements have not yet been delivered
    to the Registrar of Companies.