Interim Results

International Greetings PLC
29 January 2001

                      Pre-tax profits up 9%
                Continued growth in US operations
                 Harry Potter merchandise launch
                    Positive outlook for 2001
                                
International Greetings PLC today announced interim  results  for
the  six  months ended 30 September 2000.  The company  has  also
announced it will be producing merchandise based on Harry  Potter
in  the  UK  for  its  key Christmas product categories  and  for
children's stationery and back-to-school bag products.

International   Greetings  is  one   of   the   world's   leading
manufacturers of gift wrapping paper, gift accessories,  greeting
cards  and  crackers and is the UK's leading supplier of  private
label greetings products to major High Street multiples.  It also
manufactures  character greetings and stationery products  for  a
range of children's characters under licence from Disney, Mattel,
Hasbro and Warner Bros.

Highlights for the period included:

*  Turnover up 14%, at £37.9m (1999: £33.2m)
*  Pre-tax profits up 9%  at £2.7m (1999:£2.4m)
*  EPS up 10% to 4.5p (1999: 4.1p)
*  US operations fully integrated and performing well
*  Interim dividend up 9% to 1.2p per share (1999: 1.1p)
*  Positive outlook for Christmas 2001

Commenting on today's results, Nick Fisher, Joint Chief Executive
said:

'The  US has continued to perform well and we are confident  that
substantial  opportunities remain in  this  market.  In  the  UK,
Christmas  sales of our products were strong and the  development
of  Halloween  sales  was  encouraging. Looking  forward  we  are
excited by the prospects for our Harry Potter merchandise and the
Christmas order levels for 2001 achieved so far.'


For further information, please contact:

International Greetings plc                     01707 630 630
Nick Fisher, Joint Chief Executive

Grandfield                                      020 7417 4170
Michael Henman/Laura Foster


CHAIRMAN 'S STATEMENT

I  am delighted to report that your company has again produced an
impressive  set  of results for the six months  to  30  September
2000.   Total  turnover was up 14% at £37.9m, and  profit  before
taxation  was up 9% at £2.7m. Earnings increased by  10%  to  4.5
pence  per share.  The Stephen Lawrence Company, acquired in  May
2000, accounted for turnover of £1.2m and made an operating  loss
of  £0.2m  in  the  period from the date  of  acquisition  to  30
September 2000.

In  the UK, we have continued to broaden the successful range  of
the  Group's  products.  The Pepperpot  business,  acquired  last
January,  has been expanded to include collectable gift  products
and  the  2001 range has been well received in the market  place.
Halloween  is another new product area for the Group and  in  the
year  to  31  March 2001 sales of Halloween products will  exceed
£1m.

As  part  of  our  strategy to develop a portfolio  of  the  most
popular licensed properties, I am pleased to report that we  will
be  producing merchandise based on Harry Potter in the UK for our
key  Christmas  product categories and for children's  stationery
and  back-to-school bag products.  The main trade launch will  be
in  April 2001, and we believe our products will be well received
by fans of these books.

The  Group's  expanding US operations continue to  perform  well.
The   growth  in  the  business  is  encouraging  and  the   full
integration  of  The  Stephen  Lawrence  Company  has  now   been
completed  with the new 2001 product range successfully launched.
The  growth  in the US core business and the transfer of  Stephen
Lawrence production to Georgia has resulted in the need to expand
our  manufacturing and warehousing facility. Work  on  a  100,000
square  feet extension to our existing facility began in December
2000  and  is  expected to be completed by April this  year.  The
strength   of  the  Stephen  Lawrence  brand,  allied  with   the
acknowledged  design, sales and manufacturing reputation  of  the
group, provides an exciting opportunity to further develop our US
operations.

Our Hong Kong subsidiary, International Greetings Asia, continues
to  expand, and accounted for purchases of over US$3m  in  the  6
months  to  30  September  2000. This  is  expected  to  increase
significantly over the next couple of years, but the  main  focus
in  the  short term is to ensure reliability and quality  in  the
supply of goods, rather than maximising cost savings. This is  an
investment which we are confident will generate significant  long
term benefits.

The trend towards later Christmas consumer sales continues.  With
retailers' logistics systems becoming more and more sophisticated
and  able  to  handle  Christmas deliveries  nearer  the  holiday
period,  I am pleased to report that retail sales of our products
met our customers' expectations. Early discussions with customers
in  relation  to the 2001 Christmas season are also positive  and
reflecting  this, your board recommends an increased dividend  up
9%  to  1.2  pence per share. The dividend will  be  paid  on  27
February  2001 to all shareholders on the register on 16 February
2001.

John Elfed Jones CBE DL
Chairman



Group Profit & Loss Account
Six months ended 30 September 2000


                     Unaudited      Unaudited             Audited
                   6 months to    6 months to          year ended
                  30 Sept 2000   30 Sept 1999       31 March 2000
                          £000           £000                £000

Turnover
Continuing              36,733         33,163              85,542
Acquisitions             1,193              -                   -
------------------------------------------------------------------            
                        37,926         33,163              85,542
------------------------------------------------------------------ 
Operating profit/(loss)
Continuing               3,424          3,084              10,288
Acquisitions             (156)              -                   -
------------------------------------------------------------------ 
                         3,268          3,084              10,288
Profit on disposal 
  of fixed assets            -              -                 431
Interest payable          (615)          (645)             (1,278)
------------------------------------------------------------------ 
Profit before taxation   2,653          2,439               9,441
Taxation                  (826)          (766)             (2,833)
------------------------------------------------------------------ 
Profit after taxation    1,827          1,673               6,608
Dividend                  (489)          (447)             (1,625)
------------------------------------------------------------------ 
Retained profit          1,338          1,226               4,983
------------------------------------------------------------------ 
Earnings per share         4.5p           4.1p               16.3p
Diluted earnings per share 4.4p           4.1p               15.8p
Dividend per ordinary share1.2p           1.1p                4.0p

Note:

1    The figures for the year ended 31 March 2000 are an abridged
     version of the published accounts, which have been reported on
     without qualification by the auditors, and without any statement
     under Section 237 (2) or (3) of the Companies Act 1985, and have
     been delivered to the Registrar of Companies.

2    The calculation of earnings per share is based on 40,670,091
     (6 months to 30 September 1999: 40,630,091, 12 months to 31 March
     2000: 40,631,341) ordinary shares being the average number of
     shares in issue during the period.  The calculation of diluted
     earnings  per share is based on 41,980,353 (6 months  to  30
     September  1999:  41,043,759, 12 months to  31  March  2000:
     41,766,923) ordinary shares calculated in accordance with FRS 14.

3    The  taxation  charge for the six months ended 30  September
     2000 is based on the estimated tax rate for the full year.