Trading Update

Mentmore Abbey Plc
30 April 2002


Immediate Release                                           30 April 2002





                               MENTMORE ABBEY PLC

                      ('Mentmore Abbey' or the 'Company')

                           Pre-close period update



Prior to entering a close period in respect of its results for the year ended 30
April 2002, Mentmore Abbey, the leading space management group in Europe, is
giving the following update on current trading and prospects. Preliminary
results for the period will be announced on 2 July 2002.



During the year ended 30 April 2002 trading was broadly in line with management
expectations and the board expects that the group's reported earnings for the
year will be in line with market forecasts.



The benefits of the Company's previously announced investment programme are
beginning to be seen in improved returns.  The board is confident that in the
financial year now commencing the group will see strong progress across all its
operating companies in line with expectations, but for the impact of increased
insurance premiums.



In common with most companies, Mentmore Abbey has experienced a difficult market
for general insurance renewals. Despite this, the Company has maintained levels
of cover to meet its stringent internal risk management policies resulting in an
estimated increase in its cost of insurance cover of about £2 million per annum
going forward.



The Company is examining ways in which to mitigate the impact of these increased
insurance premiums.





For further information


Mentmore Abbey Plc                                      020 8946 3159
Nick Smith, Chairman

Buchanan Communications                                 020 7466 5000
Catherine Miles



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