Trading Update

Future PLC
30 September 2005


30 September 2005
                                   Future plc
                                 Trading Update

Summary for 2005

Further to our trading update on 14 June, Future announces that second-half
trading has continued at levels below expectations, mainly because of newsstand
weakness in the UK and France, combined with a higher level of new product
development expenditure. Subject to the trading performance in September, the
Board now expects profit (before exceptional items, interest, taxation and
goodwill amortisation) for the year to September 2005 to be around 10% below
that for last year.

Revenue growth

For the eleven months to 31 August total group turnover has risen by 9% (3%
excluding acquisitions) above the previous year. Like-for-like growth in
circulation (two-thirds of group turnover) is up 2% and advertising revenue is
up 5%, reflecting the more difficult newsstand trading conditions in the second
half. Circulation and advertising revenue growth in the half-year to 31 March
were +5% and +3% respectively; for the five months to 31 August circulation
revenue fell by 2%, whereas advertising growth was +8%. In both cases growth is
expressed in constant currency and on a like-for-like basis (excluding
acquisitions made since 1 October 2004).

UK

In our last trading statement on 14 June, we indicated that the general weakness
in consumer spending on the high street was expected to have an impact on
trading, with 85% of Future's UK magazines sold at newsstand. This difficult
retail environment has continued throughout the second half and, when combined
with the near-term impact of increased launch activity and the acquisition of a
number of titles that are in the process of being developed, has held back
profit growth in the second half. We therefore expect UK adjusted operating
profit for this financial year to be at a similar level to that for last year
(including the contribution from Highbury titles for three months).

Games titles have shown a slight increase in profit compared with last year;
whereas computing magazines have continued to experience tough operating
conditions; entertainment titles, which represent the largest part of our UK
portfolio, have increased profits.

2005 saw a significant period of acquisition and launch activity, with 48 titles
acquired and six launched. We now have a materially larger UK business, with
consequently a greater platform for profit growth over time. As announced, we
will be moving our various London operations into a single building in
Marylebone in November. While these premises will add £0.7m to annual running
costs, there is expected to be clear benefit in terms of improved management and
efficiency of the enlarged business.

US

The overall performance of Future's US business is in line with forecasts, with
lower operating profits compared with last year, reflecting the losses from our
investment in new launches and developing our internet activities.

This year we have launched Future Music, Future Snowboarding and Scrapbook
Answers. Mobile, our wireless technology magazine launched in January 2004,
continued to make losses throughout the second half and its lack of significant
progress resulted in the decision to close the title in September.

Games titles are performing in line with expectations. The recently acquired
Cheatplanet.com website is performing better than expected and our guitar titles
continue to perform ahead of expectations.

We are relocating our South San Francisco office (140 employees) in early
December. The new premises will reduce annual running costs.

Mainland Europe

Although Future France and Future Media Italy enjoyed good profitability last
year and in the first half to March 2005, second half trading is expected to be
close to break-even, before accounting for launch costs. In both countries
newsstand sales have been under pressure, with computing titles facing more
difficult general trading than games titles, where our position is stronger.

Micro Actuel was launched in France in March and is the Group's largest magazine
launch in 2005. Despite the difficult trading environment it is performing to
plan and operating losses are a little better than budget levels.

As announced on 20 September, Future has acquired three further games titles in
Italy and France.

Factors impacting financial year 2006

In planning for the financial year 2006, the Board has taken into account a
number of factors that may impact trading, including an expectation of a
continued difficult UK retail environment, with its consequential impact on UK
newsstand sales.

In 2005, we materially increased our spend on New Product Development
(investment in early-stage launches and investment in the internet) and we
currently plan a further significant increase in the new financial year.

The Group is well-placed for the medium term following its recent expansion. It
has a low level of debt and continues to be a highly cash-generative business,
making it better able to withstand any continued disappointment in trading
levels.

Annual Results

The Group's results for the year ending 30 September 2005 will be announced on
29 November 2005 and a further trading update will be provided at that time.

Enquiries:

Future plc
Greg Ingham, Chief Executive                       Tel: [phone]
John Bowman, Finance Director                      Tel: [phone]

Hogarth Partnership
James Longfield/Georgina Briscoe                   Tel: [phone]





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