AGM Trading Update

Inchcape PLC
13 May 2004

13 May 2004


                       Inchcape AGM Trading Statement


In his statement to shareholders at today's Annual General Meeting, Sir John
Egan, Chairman of Inchcape plc, will make the following comments about current
trading:

'As expected, our UK Retail business is starting to benefit from the changes
made in 2003 to management, processes and the dealership network.  Trading has
also started well, aided by the record market for the first quarter of the year.
We are confident that the UK will raise profits in the year, continuing the
trend started in 2001.

'In Greece and Belgium there has been an encouraging start to the year and both
markets are performing in line with expectations.

'Australia is benefiting from a stronger market than expected and the success of
the new Liberty and Outback models.

'In Hong Kong consumer confidence is beginning to return to the car market and
profitability should improve as a result.

'The COE (Certificate of Entitlement) quota for the next twelve months has been
issued by the Singaporean Government and the resultant car market for the year
will be higher than previously expected.  This will impact positively on
profitability.

'Overall 2004 has started better than expected.  Trading conditions in our key
markets are strong and our financial performance is well ahead of last year.
Although still quite early in the year, we look forward to the full year with
confidence.'


Notes to editors

Inchcape, as an international automotive services group, provides quality
representation for its manufacturer partners, a choice of channels to market and
products for its retail customers and a range of business services for its
corporate customers. Operations are focused on the UK, Greece, Belgium,
Australia, Hong Kong and Singapore. Inchcape's activities include exclusive
Import, Distribution and Retail, Business Services, automotive E-commerce and
Financial Services. Operating in a number of our markets, our key manufacturer
partners are Toyota/Lexus, Subaru, Ferrari/Maserati, BMW, the Premier Automotive
Group of Ford, Mazda and Volkswagen.

You can view the accompanying AGM slides and speeches from approximately 1200hrs
by visiting our website, www.inchcape.com, and selecting 'Presentations'.

The results of the AGM resolutions will also be available today from 1600hrs. To
view the announcement please visit our website, www.inchcape.com, and select the
'News Desk'.


For further information, please contact:

Group Communications, Inchcape plc
020 7546 0022

John Olsen/Tom Leatherbarrow, Hogarth Partnership Limited
020 7357 9477


For further information, visit us at www.inchcape.com



                      This information is provided by RNS
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