Trading Statement

Pennant International Group PLC
20 November 2002



Pennant International Group plc is pleased to announce the achievement of
significant goals identified in its interim statement dated 9 August 2002 by
securing contracts for two major programmes.

The first contract has been awarded to Pennant Australasia by the Materiel
Systems Branch of the Australian Defence Organisation.  The contract is to
upgrade the logistics support analysis record system used by the Australian
Defence Organisation with Pennant's OmegaPSi web enabled software, together with
the implementation of two further software products - OmegaPS Publisher and
OmegaPS Analyzer.  The contract was won in competitive tender and has an
estimated value in excess of AU$3.5 million (approximately £1.25 million).  The
main provisions of the contract will be completed by May 2004 and will be
followed by a technical support contract extending to March 2009.

The second contract award from BAE SYSTEMS represents the first part of a phased
programme to supply a computer based instruction system, a virtual aircraft
training system and an integrated training management system for the South
African Air Force.  This training system supports the new buy of Hawk Mk 120
Lead-In Fighter Trainer aircraft.  Significant value attaches to the programme
with revenues extending out to mid 2006.  The training system, based on a 2003
aircraft configuration, is scheduled to enter service during the first quarter
of 2005, followed immediately by a systems upgrade, to match the aircraft's
final operational configuration planned for the period July 2005 to July 2006.
The initial contract covers activities through to the preliminary design review
in January 2003.  The directors believe that having secured the initial phase of
this contract, Pennant will be well placed to secure further contract awards on
this phased programme.

In addition to this contract award, the Company is pleased to report that
Pennant Training Systems has now received final acceptance of, and the release
of the final milestone payment for, the Generic Flying Controls Trainer - GenFly
- from the UK's Defence Procurement Agency.  Final acceptance comes at the end
of an exhaustive six-month reliability, maintainability and testability
assurance programme where GenFly has proved to be extremely reliable.

Furthermore, the Company is pleased to report that Pennant Training Systems has
recently received confirmation that the Commonwealth of Australia has formally
accepted into service the Australian Air Force Hawk Mk127 Lead-In Fighter
computer based instruction system and virtual aircraft training system, designed
and developed by Pennant Training Systems.

For further information please contact:

Joe Thompson, Chief Executive, Pennant International Group plc              Tel: [phone]

Barrie Newton, Managing Director, Rowan Dartington & Co. Limited:           Tel: [phone]

Ken Rees, Winningtons:                                                      Tel: [phone]
                                                                            Mobile: [phone]


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