AGM Statement

Parity Group PLC
12 June 2002

Wednesday 12 June 2002 - Embargoed for 11.00 a.m.


                                PARITY GROUP PLC

                                 AGM Statement


Parity Group plc ('Parity'), the IT services group, holds its AGM at 11.00 am
today.  Shareholders are being updated on a number of matters, including
progress on the implementation of the strategy announced in May last year.  The
following statement is being made by the Chairman, Bill Cockburn.


'I am pleased to advise shareholders that despite challenging market conditions,
the strategic focus on winning large, multi-year contracts with our blue-chip
clients to produce more predictable and sustainable revenue streams, continues
to be validated with further contract wins announced today.



Current Trading



The order books for Business Solutions and Training have been strengthened by
the outsourcing contracts announced this year and these divisions are trading
satisfactorily in the UK and mainland Europe.  While the market remains
difficult to predict, we believe that we will be able to continue to gain market
share in these businesses.



Resourcing Solutions is our European staffing and recruitment business.  Its
success in winning preferred supplier agreements with large, multi-national
clients has helped partially off-set the effects of the general market
contraction.  However, margins are under pressure, and real growth is difficult
to achieve.  As European economies recover, this business will return to growth
and the cost reduction measures taken in 2001 should deliver improved
profitability.  Our first sale of Human Capital Management services, in the
National Health Service, supports our decision to enter this market.



The US Division offers solutions, training and resourcing services, mainly on
the East Coast and in the South West of the United States.  The resourcing
market shows little sign of improvement yet.  However, solutions and training
work is growing in this division and the plan is to expand these services even
faster, to reduce reliance on the more cyclical resourcing market.



Contract Awards



Our Business Solutions Division today announces that Post Office Limited has
selected Parity Group plc as its strategic partner to assist in managing its IS/
IT functions.  Parity will play a key part in Delivery Management and Contract
Management as well as providing input into other key areas such as Information
Systems Strategy, Technical Architecture and Service Management.  Parity will
work with Post Office Limited to develop and deliver an ambitious five year IS
restructuring plan, removing at least £250m from its operating base.  The multi-
million pound contract extension follows the successful delivery of over 70 work
packages within the Consignia Group, resulting in Parity gaining First Class
Supplier status and IS Supplier of the year award in 2001.  This extension is
the largest contract award ever made to Parity.



In addition, the Resourcing Solutions Division announces that it has been
appointed as one of only five preferred suppliers of IT contractors in the UK to
GlaxoSmithKline plc.

Outlook



The markets across Europe and the US remain difficult to read.  As yet, there is
little sign of a general recovery.  The Group's strategy is based on winning
market share, through better development of its blue-chip client base and
selling clear value propositions that have excellent returns on investment for
our clients.  While that strategy is working well, as demonstrated by recently
announced contract wins, the Group is not immune from market conditions,
especially in the resourcing businesses in Europe and the US.'



The Group will announce its interim results for the six months to 30 June 2002
in early September.



Enquiries:



Parity Group plc
Ian Miller, Group Chief Executive           Telephone: [phone]
Alison Leyshon, Group Finance Director

Financial Dynamics
Giles Sanderson                             Telephone: [phone]
Harriet Keen



Notes to the Editor about Parity Group plc



Parity Group is a leading provider of IT services, technology staff, training
and human capital management solutions operating from over 30 offices across the
UK, mainland Europe and the USA.  It operates as four divisions:



Business Solutions designs, builds and operates complete systems covering a
variety of business functions. Focussing on maximising investment returns, its
consultants specialise in interactive commerce, customer relationship
management, content management, Web-enablement, security and applications
management, providing services across a range of vertical sectors.



Training delivers bespoke and public scheduled courses in technology, management
and business skills at nine training centres nationwide and at customer sites.
Blending traditional training with e-learning, it provides services that range
from complete vendor management to fully outsourced training and development.



Resourcing Solutions is a professional services supplier providing permanent and
interim technology staff.  It advises companies on how to optimise the
deployment and utilisation of staff and skills.  It also supplies technology and
consultancy to maximise the effectiveness with which its customers use external
suppliers and internal resources.



The US Division offers all three of Parity's services - solutions, training and
resourcing - and operates from eight offices on the East Coast and in the South
West of the United States.



For more information on Parity, visit www.parity.net.





                      This information is provided by RNS
            The company news service from the London Stock Exchange