AGM Statement

Mulberry Group PLC
24 September 2002

                               Mulberry Group plc

                                 AGM Statement


At the Annual General Meeting of the Group held today where all resolutions were
passed, Roger Saul, Chairman and Chief Executive, made the following comments:

'Notwithstanding what was a difficult and traumatic year, the underlying trading
performance of the Group has continued to make progress.

The trading outlook in our sector is flat. Retailers in Europe are reporting
declining sales of clothing and accessories while consumer spending in the UK
appears to be slowing.

Against this background, however, we are seeing growth in our UK accessories and
menswear wholesale business for both Autumn/Winter 2002 and Spring/Summer 2003.
Whilst womenswear is more difficult.

In our own shops the overall level of business is up on last year with Bond
Street being open throughout the entire period. The next six months, and in
particular Christmas, will show the underlying trends more clearly. This sales
growth is due to the quality of our products and the success of our PR and
marketing in the UK.

I am pleased to report that our new store design for Bond Street swept the
retail shop design awards winning Best Store. This design is now being rolled
out in Europe and Russia with the following franchise shops now open or being
opened in the next six months: The Hague, Moscow, St Petersburg, Ekaterinsberg
and Stockholm.

Over the last year, there have been many changes and challenges for our staff. I
am grateful to all of them for their continued enthusiasm and commitment to
creating a truly international brand.

We have been working to build the management team over the last two years so
that the Group has the management resources to support its future development.
In the last six months we have made the key step of appointing a new Design
Director, Nicholas Knightly. This has enabled me to step back from my day-to-day
involvement in this area. Accordingly, we have decided that this is an
appropriate time to move to the next stage of our plan and split the role of
Chairman and Chief Executive. The Board is therefore pleased to announce that we
have appointed headhunters to search for a new Chief Executive. This search is
expected to take between six to nine months. Once the new Chief Executive is in
position, I will continue as Chairman.'


                                                                      Roger Saul
                                                               24 September 2002


Enquiries:

Mulberry Group                                             Tel: [phone]
Roger Saul, Chairman and Chief Executive

WMC Communications                                         Tel: [phone]
David Wynne-Morgan




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