AGM Statement

Vertu Motors PLC
30 August 2007



30th August 2007

                                Vertu Motors plc

                                 AGM Statement


At today's First Annual General Meeting of Vertu Motors plc, Chief Executive,
Robert Forrester, will make the following statement:

'I am pleased to report in this first trading statement by Vertu Motors plc that
your Company has made good progress towards its strategic goals in the period.

The Company was formed in late 2006 to take advantage of opportunities in
acquiring and consolidating businesses within the UK motor retail sector.  In
2007, the Company has successfully concluded four acquisitions, with trade
commencing on completion of the acquisition of Bristol Street Motors on 27 March
2007.  The Company now operates 46 dealerships and, on a turnover basis, is the
tenth largest motor retailer in the UK.

A strong management team has now been assembled and the Board believes these key
appointments will enable future growth and performance improvement to be
delivered.  Similarly, significant management changes have taken place at
dealership level where acquired dealerships were considered to be
underperforming.  The Board believes that these changes have been largely
completed and we expect to see the resulting performance improvements.

Cost savings have been achieved in line with our plans through the closure of
the former head offices of Bristol Street Motors and the Blakes Group.  Head
office functions are now located in Newcastle upon Tyne.  In addition, progress
continues to be made in using the greater scale of the Group to obtain better
purchasing terms.

Good progress has been made in improving the internet presence of our core
brands, 'Bristol Street Motors' and 'Motor Nation'.  A new internet offering
will be launched in September and a contact centre is being created in
Sunderland to handle all the contacts generated.  The Board envisages that this
new, centralised, internet strategy will help the Group to achieve its objective
of increasing the level of new and used car sales going forward.

Property disposals

Currently we have surplus properties with estimated proceeds and book value of
around £12 million.  A number of these properties are conditionally contracted
for sale.  The Board envisages that a number of these disposals will be
completed in the first half of 2008.  These anticipated funds will be used
initially to reduce Group debts but they will also add to our capacity to make
acquisitions in the future.


Commercial vehicles

The overall commercial vehicle market has seen growth in van registrations but
significant declines in the year to date in registrations of heavy trucks.  The
Group operates three Iveco dealerships and nationally Iveco has under performed
against other franchises.   Heavy truck registrations for Iveco nationally
declined 20.8% in the April to July period and light commercials declined
8.4%.   This has been reflected in our dealership performance although order
levels have improved in recent weeks.


Car market

National new car registrations in the January to July period have risen 2.4%.
Growth has reduced since March with national registrations in the Company's
period of trading from April to the end of July rising 1.5% for private
customers and 2.3% for business customers.  On a like-for-like basis for Bristol
Street Motors' dealerships for the period from April to July, new car volumes
sold to private customers rose 7.8% year on year.  This excellent performance
has been aided by new model launches in a number of our franchises together with
strong consumer offers and has been achieved without any pre-registration of new
vehicles.

The United Kingdom used car market in 2007 has remained flat in terms of
volumes. In contrast, Bristol Street Motors' dealerships acquired on 27 March
2007 increased used car volumes on a like-for-like basis by 8.0% in the period
April to July.  Since March 2007 used car values have reduced at a steeper rate
than in the previous twenty-four months, which has put margins under pressure.


Outlook

Given the Company's first trading period to February 2008 excludes the most
significant trading month of March, the importance to the period's result of the
performance of the Group in the second largest trading month of September is
evident.  However, with the integration of the acquired businesses progressing
well, the Board remains confident about the Group's prospects for the current
financial year.'


                                   - Ends -



For further information please contact:

Robert Forrester, CEO, Vertu Motors plc, Tel: [phone]

Andrew Kitchingman, Brewin Dolphin Securities, Tel: [phone]

Jonathon Brill/Billy Clegg/Edward Westropp, Financial Dynamics, Tel: [phone]



Notes to editors

Vertu Motors is the 10th largest motor retailer in the United Kingdom with 46
dealerships forming a national network across England, operating under the
Bristol Street Motors brand. Manufacturing partners include Citroen, Ford,
Iveco, Honda, Peugeot, Renault and Vauxhall.

Vertu Motors was established in November 2006 with the aim of consolidating the
UK motor retail sector. The company listed on AIM in December 2006 and raised
£25m. The Executive Directors are experienced within the sector, having
previously held senior positions within Reg Vardy and CD Bramall.

In March 2007, the Group acquired the 13th largest motor retailer in the United
Kingdom, Bristol Street Motors. In the summer of 2007, Vertu acquired Blake
Holdings, Grantham Motor Company Limited and a Ford dealership in Morpeth,
Northumberland.

It is intended that the Company will continue to acquire motor retail operations
in the form of franchised dealerships and used car only operations. The
Company's acquisition strategy is supplemented by a focussed organic growth
strategy to drive operational efficiencies through the national network.


www.vertumotors.com




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