Chairman's AGM Statement

JOHN DAVID SPORTS PLC 28 September 1999 CHAIRMAN'S AGM STATEMENT At today's Annual General meeting of the company, John Wardle made the following comments:- 'I reported in the Preliminary Announcement on 9 June that JD Sports was achieving a more positive differentiation in the sports and leisurewear market place and the strengthened JD brand was driving an improved trading performance with underlying like for like sales performance of 2% in the new financial year. I am pleased to report that since that date the company has achieved a further improvement in sales growth despite the comparative trading period last year having the benefits of the World Cup. A like for like sales increase in excess of 5% has been recorded for the 15 week period since the Announcement of 9 June. The resultant cumulative like for like sales growth for the financial year to date is 3.2%. Additionally, there has been a modest improvement in gross margins as a result of lower markdowns. Three new stores have been opened since 31 March 1999 with one closed. It is anticipated that four additional new stores will be open by 31 March 2000 and these have been selected with reference to demanding financial criteria. The strategy of differentiating the JD brand and product range from the mainstream sportswear retailers should produce an improved financial performance for the year ended 31 March 2000.' Enquiries: Andrew Hayes/James Cracknell Tel: 0171 796 4133 Hudson Sandler
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