Trading Update

De La Rue PLC
23 September 2005





                                 DE LA RUE PLC

                        PRE CLOSE PERIOD TRADING UPDATE



Prior to entering its close period for the half year ending 24 September 2005,
the Board of De La Rue issues the following trading update:



Trading during the first half has been good, benefiting from a high opening
order book within the Security Paper and Print division, earlier than
anticipated benefits from cost saving initiatives in Cash Systems and the
elimination of losses from the discontinued activities of Sequoia Voting Systems
(2004/2005 : first half loss of £2.7m).  Accordingly, and on an IFRS adjusted
basis, the Board expects first half underlying results to be modestly ahead of
last year.



As previously announced, trading in the second half is not expected to benefit
from the high levels of banknote overspill and favourable customer mix
experienced in the second half of 2004/2005.  Accordingly, the Board's
expectations for the year as a whole remain unchanged.



                                     -ends-



For further information please contact:

Stephen King            Group Finance Director         [phone]
Mark Fearon             Head of Corporate Affairs      [phone]
Richard Mountain        Financial Dynamics             [phone]





Notes to Editors:



 1. On 13 July 2005, De La Rue published the estimated impact of the transition
    to International Financial Reporting Standards (IFRS) on its consolidated
    financial statements.  Headline profit before tax for the half year to 25
    September 2004 under IFRS was £26.1m. The main adjustments from the
    previously reported figure under UK GAAP of £25.8m were in relation to tax
    on associate company profits, pensions, goodwill, development expenditure
    and share-based payments.


                UK GAAP   Share-based   Employee     Development      Reclassification -  Other     IFRS
                          payments      benefits     assets           associate tax
                          
                £m        £m           £m            £m               £m                  £m        £m
Profit before    
tax,
exceptional     25.8      (0.6)        1.3           0.7              (1.3)               0.2       26.1
items and
goodwill
amortisation


 2. De La Rue will announce its interim results on 29 November 2005.


 3. De La Rue is the world's largest commercial security printer and papermaker,
    involved in the production of over 150 national currencies and a wide range
    of security documents such as passports, fiscal stamps, travellers cheques
    and authentication labels. The Company is a leading provider of cash
    handling equipment and software solutions to banks and retailers worldwide,
    helping them to reduce the cost of handling cash.  De La Rue employs over
    6,200 people across 31 countries and has an ongoing turnover of
    approximately £620m.  De La Rue is a member of the FTSE 250.  Its ordinary
    shares are listed with the UK Listing Authority and trade on the market for
    listed securities on the London Stock Exchange under the symbol DLAR.  For
    further information visit De La Rue's website at www.delarue.com.



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