AGM Statement

Hornby PLC
22 July 2004



                            CHAIRMAN'S AGM STATEMENT

Speaking at the Annual General Meeting of Hornby Plc, ('Hornby') the models and
collectibles Group, the Chairman Neil Johnson, will make the following
statement.

' I am pleased to confirm that the Group's trading in the first few months of
the current year has continued to be encouraging.

' In the UK in particular, increased distribution amongst major retailers and in
our network of concessions will result in further sales increases.

' The acquisition of Electrotren in Spain has proved to be well timed. The flow
of new Electrotren products from China is producing better sales than forecast.

' The potential acquisition of certain assets of Lima S.p.A (in liquidation) is
also proceeding according to plan. The Italian Court published the terms of the
'Concordato Preventivo' or Creditors Agreement on 16 July 2004. Under the terms
of this legal process we remain confident that our acquisition of the Lima
assets will be completed before the end of 2004, according to plan.

' These overseas acquisitions coupled with strong organic growth lay the
foundations for sustained long term business growth.'

                                     -ends-

Date: 22 July 2004
For further information contact:

Hornby Plc                                        City Profile Group
Frank Martin, Chief Executive                     Simon Courtenay
John Stansfield, Finance Director                 020-7448-3244
01843-233500
Web: www.hornby.com or:
www.scalextric.com





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