Trading Statement

Pittards PLC
9 November 2001

                                 Pittards plc

                                Trading Update


In the interim statement of 6 September 2001, we said that the general
economic outlook - and that for the US in particular - prompted us to be
extremely cautious about the prospects for the rest of the year.  At that
time, we were experiencing weakening demand from the sports sector, but our
dress glove, footwear and luxury leathergoods leathers were holding up
reasonably well.  There were also indications that hide and skin supplies and
prices which had been unstable in the first half, partly due to the impact of
foot and mouth disease, were returning to normality.

Since the announcement and since the terrorist attacks on 11 September, demand
from virtually all of our markets has fallen sharply.  Some of our customers
are citing cancellations and rescheduling of orders by their retail customers,
especially those in the United States.  As a result of the reduction in the
volume of our business the Company will be reporting a trading loss for the
year to 31 December 2001.

We are taking vigorous action to reduce our costs appropriately.  Regrettably
this involves up to 100 redundancies across the Group and includes the
consolidation of our raw material processing activities.  Consultations have
begun with a view to the closure of our sheepskin and hide processing facility
at Kinghorn in Scotland. Sheepskin production will be transferred to our other
Scottish factory at Langholm, and the hide processing activities currently
carried on at Kinghorn will be transferred to our Shoe & Leathergoods
Division's factory in Leeds.  The costs of closure would be approximately £1m,
but the additional throughput at our units in Langholm and Leeds will
significantly enhance the contributions from those operations in 2002 and
beyond.  Approximately 10 acres of the Kinghorn site have been allocated for
residential development in the finalised draft of the Kirkcaldy Area Local
Plan published in June 2001.

With lower costs, more efficient production facilities, a range of innovative,
technically advanced leathers and our broad international customer base, the
Group will be better placed to operate profitably in the current market, and
to benefit from a recovery in global demand next year.