Summary of Final Results

The Vitec Group PLC
19 May 2005


19 May 2005

                              The Vitec Group plc

       The impact of International Financial Reporting Standards ('IFRS')

                   Restatement of 2004 financial information


The Vitec Group plc ('Vitec'), the international supplier of products, services
and solutions to the Broadcast, Entertainment and Media industries, presents its
unaudited results under International Financial Reporting Standards (IFRS) for
the year ended 31 December 2004. The full report, which contains detailed
explanations of the IFRS and UK GAAP numbers, is available on Vitec's website,
www.vitecgroup.com.

The full year 2004 results prepared on an IFRS basis and those under UK GAAP can 
be summarised as follows:


Financial results                                                              2004 IFRS        2004 UK 
                                                                              (unaudited)        GAAP*
Sales                                                                           £185.4m         £185.4m
Profit / (loss) before tax before significant items**                            £16.3m          £16.2m
Profit / (loss) before tax                                                       £14.1m          £12.3m
Basic earnings per share before significant items**                              21.6p           22.9p
Basic earnings per share                                                         18.5p           15.6p
Net assets                                                                       £64.2m          £56.7m
     
*    The UK GAAP numbers presented above are as reported in the 2004 Annual
     Report, reformatted in line with presentational requirements under IFRS.

**   Significant items are those which, because of size or incidence, require
     separate disclosure to enable underlying trading performance to be 
     assessed. They comprise restructuring costs, asset impairment charges and 
     profits on sale of businesses which were classified as exceptional in the 
     2004 UK GAAP accounts.

Highlights
     
•    No material effect on profit before tax and eps before significant items

•    Trading fundamentals, cash generation and operational performance not
     affected

•    Basic eps improved due to reversal of goodwill amortisation

•    Tax charge increases due to increased deferred tax (cash taxes unchanged)

•    Net assets increase due to deferred tax, partly offset by provision for 
     pension deficit

Alastair Hewgill, Finance Director of The Vitec Group plc, commented:

'The Group's transition to IFRS has gone well and we are pleased to present the
required financial information within the timescale laid down by the EU. The
impact of IFRS on 2004 profit before tax and significant items is not material
for the Group. Whilst our current taxes payable remain low and the current tax
charge remains unchanged, the impact of IFRS adjustments on pensions, goodwill
and the calculation of deferred tax balances would have increased our deferred
tax charge, and therefore our overall tax charge.'

'On the balance sheet, a major change relates to pension accounting where
deficits are now shown as liabilities, whereas under UK GAAP they were amortised
over a number of years. However, that has been more than compensated for by the
impact of IFRS adjustments on the calculation of deferred tax balances, where
the Group now has net deferred tax assets rather than net deferred tax
liabilities.'

'As we move towards full reporting under IFRS for 2005, our aim will be to keep
the investment community informed about the expected impacts on reporting.'

Further enquiries:

Alastair Hewgill
Group Finance Director
Tel: [phone]


Notes to Editors

About The Vitec Group plc

The Vitec Group plc supplies a wide range of equipment and services to the
broadcasting, entertainment and photographic industries. Its products are
distributed in nearly 100 countries, either through dealerships or direct to the
end user or corporate sector, and it has manufacturing facilities in four
countries. The Vitec Group is a major force in its chosen specialised fields.

More information can be found at: http://www.vitecgroup.com.



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