Issue of Equity

Mulberry Group PLC
24 January 2005


MULBERRY GROUP PLC (the 'Company')


24 January 2005


Issue of equity


The Company has applied to the UK Listing Authority for 28,469 ordinary shares
of 5p each in the Company, which were issued pursuant to the exercise of share
options, to be admitted to trading on AIM.

These shares will rank pari passu with the existing ordinary shares of the
Company and dealings are expected to commence on 27 January 2005. The issued
share capital of the Company following this announcement is 48,789,055 ordinary
shares of 5p each.


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