AGM Statement

Holidaybreak PLC
11 February 2003


For Immediate Release                                           11 February 2003


                                 HOLIDAYBREAK PLC

                           2003 ANNUAL GENERAL MEETING

                              Chairman's Statement


Holidaybreak consists of three strong businesses which all enjoy good margins, a
flexible cost base and have experienced and capable management teams.  Two of
our three divisions, Hotel Breaks and Adventure Holidays, are showing good year
on year growth.  Camping is finding life harder. The market for summer 2003
holidays overseas has been weak during the normally key January booking period
but we expect improvements as the summer holiday season approaches and the Iraq
situation clarifies.  People have not stopped taking holidays but they are, in
general, holding back on booking commitments until closer to departure day.

Recent reports in the UK travel press suggest the year-on-year decline in the
mainstream package holiday business since Christmas 2002 has been around 20%.
There are two main reasons for the challenging trading conditions. The first is
the increased threat of armed conflict with Iraq combined with general economic
uncertainty.  The second is the convenience, prices and choice being offered by
the low cost airlines which is continuing to eat into the business of the high
volume air inclusive tour operators. Whilst we are not isolated from the first
problem, the low cost airlines are helpful to our business, particularly our
Hotel Breaks division.

CAMPING

UK Camping Division sales have reflected the general malaise in the overseas
summer holiday market.  The Dutch and German holiday markets have been similarly
weak.  Our own overall sales to date, including figures for newly acquired
Eurosites for both years, are 8% behind 2002 year on year.  However, for each of
our brands, over 60% of budgeted sales have already been made, at normal prices,
and we have achieved a satisfactory spread of departures across the summer,
leaving good levels of prime school holiday capacity still available to sell.

We are now close to finalising our accommodation capacity for the season at a
level 3% below the 2002 figure across the three main brands (Eurocamp, Keycamp
and Eurosites): we will not expose ourselves to unnecessary risk.  Looking
ahead, whilst at this stage we have to be cautious, there are good reasons to
expect bookings to come through as and when the political uncertainty subsides.
In addition, our research indicates that consumers are, in the main, still
intent on booking a summer holiday but are understandably reluctant to make
commitments at present.

HOTEL BREAKS

Hotel Breaks continues to show healthy year on year growth although the rate has
slowed in recent weeks.  Revenues for the first four accounting periods finished
28% better than last year and total sales intake for the year to date is 25% up
on 2002.  In view of the general market conditions we regard this as another
excellent performance.  A particularly strong performer has been Superbreak's '
accommodation only' overseas breaks programme which is now firmly established in
its market niche as customers continue to opt for independent or tailor-made
arrangements rather than travel inclusive packages.

ADVENTURE HOLIDAYS

Adventure Holidays have made an excellent start to the year reflecting the
continuing and growing appetite for this type of holiday.  First quarter
revenues finished 22% better than October-December  2001.  The current
uncertainties have slowed demand since the New Year but cumulative sales for the
year to date remain 14% up on 2002.

Whilst the Adventure business is more exposed than most to political events we
have taken full account of the current situation in tailoring our destination
programme and are looking forward to a significantly improved performance
relative to last year.  The trend towards consumers making late commitments is
very apparent in this business and, with the important Easter period a month
later than in 2002 pushing back bookings for that holiday period, we remain
optimistic about the outlook for the remainder of the year.

PROSPECTS

Whilst there is clearly a greater degree of uncertainty than is normal at this
time of year we maintain a positive stance.  Sales for both Hotel Breaks and
Adventure are well ahead of last year and there are grounds to expect
improvement from Camping as the summer season approaches.  We are due to
announce our Interim Results on May 8th when we will be providing an update on
bookings and trading.

NEW CHAIRMAN

We welcome today, at his first Annual General Meeting, Bob Ayling who joined as
a non-executive director on February 1st and will succeed me as Chairman on June
1st of this year. I have been singularly fortunate to have been Chairman of
Holidaybreak at a time of steady progress.  Not only do I wish Bob the same good
fortune, but believe there is every reason for being confident about the Group's
future. I would like to take this opportunity of thanking my Board colleagues
and all the employees of Holidaybreak for their support, commitment and
achievements during my six years as Chairman of the company.


Angus Crichton-Miller
Chairman



For further information, please contact:

 Richard Atkinson, CEO / Bob Baddeley, FD
 Holidaybreak                                                       01606 787102

 Tim Anderson /Louise Bolton
 Buchanan Communications                                           020 7466 5000




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