Final Results - Year Ended 31 December 1999

Vitec Group PLC
10 March 2000


                                        
VITEC GROUP plc

1999 YEAR END RESULTS
                                        
Vitec  Group, the supplier of equipment to the world's television
entertainment, photographic  and retail markets today, announces results for
the twelve months to 31 December 1999.
        
                                
12 months ended 31 December                       1999        1998
                                                                  
Turnover                                       £171.4m     £162.3m
Profit before tax*                              £37.1m      £39.3m
Headline earnings per                            54.3p       58.2p
share
Dividend per share                               18.5p       16.1p

*before goodwill amortisation/exceptional

- Second half rebound produces good result
- Consolidated sales up by 6%
- Total dividend up 15%
- Record operating cash flow of £51.1m
- Share repurchases reduce equity by 16.5%
- Philip Cushing appointed new Chief Executive


Commenting on the results Malcolm Baggott, retiring Chief Executive, said:
'After  a  slower start to the year the group rebounded in the  second  half 
to report another set of good results and this trend has continued in the
first two months  of 2000.  Record cash generation has also enabled us to
improve balance sheet efficiency by share repurchases of 16.5% of the group's
equity'


Vitec Group plc                           Tel:      [phone]
Alison Carnwath, Chairman
Malcolm Baggott, Chief Executive
Richard Green, Group Financial Director

Financial Dynamics                        Tel: [phone]
Charles Watson
Richard Mountain                          Mob: [phone]



OVERVIEW

Vitec is announcing another set of strong results and for the  sixth year  in
succession, the Directors are recommending a dividend increase of 15% for the
year, with a final dividend of 13.6p (1998 : 11.8p) making a total dividend 
of 18.5p for 1999 (1998 : 16.1p).

The Photographic and Retail Display Division produced its best ever profits.
The Broadcast Camera Systems results were affected by continuing
reorganisation costs of Vinten in both the UK and the USA; the Communications 
and Audio Division continued to grow strongly; and the Broadcast Services 
Division produced double digit profit growth.

Group sales increased by just under 6% to £171.4 million (1998 : £162.3
million) and earnings before interest, tax and goodwill amortisation was £38.2
million(1998 : £40.0 million). The effects of acquisitions in 1999 were
immaterial to these results.

Operating cash flow was £51.1 million, a record for the group and an increase
of 18% over 1998 (£43.3 million): free cash flow was £21.4million, almost 
double the figure for 1998 (£11.0  million).  Headline earnings per share was
approximately 7% lower at 54.3p (1998 : 58.2p) as the tax charge for the 
group rose to 30.7% (1998 : 27.6%)

                                        

OPERATIONAL REVIEW

Photographic & Retail Display

Sales of £69.5 million  were 10.7% higher than 1998 (£62.8 million). This
included first year sales by Litec of £1.4 million.  Operating profits of
Manfrotto, Bogen and Alu Italy all increased over 1998 but were adversely
affected by a poor performance from Gitzo in France and some price pressure 
for Alu in the USA.  Despite these effects, operating profits of £19.7 million
were at record levels.


Broadcast Camera Systems

For the full year, sales were flat at £59.9 million.  Although there were
record profits from Anton/Bauer and Sachtler's profits were level with 1998,
profits at Vinten were depressed due to reorganisation costs and lower sales
volumes in the Americas.  Profits for the year of £13.1 million were 16.0%
down on 1998 (£15.6 million).


Communications & Audio

Sales for the Communications and Audio Division, which included a full year 
forDrake, were up by 33.6% at £15.9 million (1998 : £11.9 million); 1999
included a contribution of £0.5 million from Vega.  Profits of Clear-Com were
slightly down as it invested more in research and development.  Drake is now
revitalised and had a very good first full year.  Overall, profits improved by
21.4% to £1.7 million (1998 : £1.4 million).


Broadcast Services

Broadcast Services revenues showed a modest increase over 1998 with sales of
£26.1 million (1998 : £25.4  million).  Prior year revenues included a
substantial contribution from the Winter Olympics held in Nagano, Japan. As a
result of better product mix, cost reductions and other profitability
improvement programmes, operating profits were up by 12.1% at £3.7 million
(1998 : £3.3 million).


CORPORATE ACTIVITY

There were no significant acquisitions made during the year and our surplus
cash was used to effect share repurchases through both open market
transactions and a tender offer.  In total 16.5% of our equity was bought back
at an average price of 620p per share which left the group with net debt of
£27.8 million at the year-end.  Interest cover remains high after these
repurchases and the Group has considerable  financial capacity.  The Board 
continues to review suitable acquisitions in related businesses and in January
2000 we announced the purchase for US$12 million of most of the assets of the
main competitor to Bexel, Duke City Video.  These are currently being merged
into Bexel.


CHIEF EXECUTIVE

In January this year the Board announced that Malcolm Baggott, our Chief
Executive for the past ten years, wished to retire during the course of this
financial year.  Malcolm has been the architect of the Vitec Group and his
tireless energy, combined with his effective leadership, have driven profits
from £8.6 million in 1990 to £37.1 million today.
                                        
Today, we announce the appointment of Philip Cushing to the  position of the
Group Chief Executive with effect from 28 April 2000.  He brings to the Group 
a wealth of commercial, industrial and international experience gained most
recently as Chief Executive of Inchcape plc and we are confident in his 
ability to take Vitec on to its next stage of development.


FUTURE PROSPECTS

Sixty per cent of the group profits are denominated in Euros and thirty six 
per cent are denominated in US dollars and therefore exchange rate movements 
can affect consolidated group profits.  Nevertheless, sales in the second 
part of last year picked up strongly and this has continued in the first two
months of this year.  We have a talented group of executives heading our
businesses and can look forward to the future with confidence.

                                        

VITEC GROUP plc

CONSOLIDATED PROFIT AND LOSS ACCOUNT
for the year ended 31 December 1999
                                         
                    1999         1999     1999      1998         1998    1998
                     £'m          £'m      £'m       £'m          £'m     £'m
                  Before     Goodwill    Total    Before     Goodwill   Total
                goodwill amortisation           goodwill amortisation
            amortisation                    amortisation
                                                                              
Turnover                                                                      
                    
Continuing 
operations        169.5            -    169.5      159.9           -    159.9
Acquisitions        1.9            -      1.9          -           -        -
Discontinued
operation             -            -        -        2.4           -      2.4
                 ______       ______    ______    ______      ______    ______
                  171.4            -     171.4     162.3           -    162.3
Cost of sales     (78.9)           -     (78.9)    (75.5)          -    (75.5)
                 ______       ______    ______    ______      ______    ______
Gross profit       92.5            -      92.5      86.8           -     86.8
                                                                              
                    
Operating         
expenses          (54.3)        (0.5)    (54.8)    (46.8)      (0.2)    (47.0)
                                                                              
                    
Operating profit                                                              
                    
Continuing 
operations         38.0         (0.4)     37.6      39.8       (0.2)     39.6
Acquisitions        0.2         (0.1)      0.1         -          -         -
Discontinued 
operation             -            -         -       0.2          -       0.2
                 ______       ______    ______    ______      ______   ______
Group operating 
profit             38.2        (0.5)      37.7      40.0       (0.2)     39.8
Loss on sale of       
discontinued 
operation             -            -                (0.6)         -      (0.6)
                 ______       ______    ______     ______      ______   ______
Profit on 
ordinary                 
activities
before interest    38.2        (0.5)     37.7       39.4       (0.2)     39.2
                 ______       ______              ______      ______
Net interest                             
payable                                  (1.1)                           (0.7)
                                        ______                          ______
Profit on
ordinary                                                                 
activities 
before tax                               36.6                            38.5

Tax                                     (11.4)                          (10.8)
                                        ______                         ______
Profit on 
ordinary                                 
activities 
after tax                                25.2                            27.7
Minority interest                           -                            (0.1)
                                       ______                           ______
Profit for the 
financial  
year                                     25.2                            27.6
Dividends                                (7.6)                           (7.9)
                                       ______                           ______
Retained profit                          17.6                            19.7
                                       ______                           ______
                                                                              
                    
Basic earnings 
per share                                53.3p                           56.6p
                                                                              
                    
Diluted earnings 
per share                                52.6p                           56.1p
                                                                              
                    
Headline earnings 
per share                                54.3p                           58.2p

                                                                              
                    
                                        
The Board has recommended a final dividend of 13.6p per share (1998: 11.8p)
which, together with the interim dividend of 4.9p (1998: 4.3p) totals 18.5p 
per share for the year (1998: 16.1p).  The dividend is covered 3.4 times by
earnings.  If approved, it will be paid on 3 July 2000 to shareholders on the
register at the close of business on 5 June 2000.

The financial information in this announcement does not constitute the
company's statutory accounts for the years ended 31 December 1999 or 1998 but
is derived from those accounts.  Statutory accounts for 1998 have been
delivered to the registrar of companies, and those for 1999 will be delivered 
following the company's annual general meeting.  The auditors have reported on
the accounts; their report was unqualified and did not contain statements
under section 237 (2) or (3) of the Companies Act 1985.
                                        
                                        
                                        
VITEC GROUP plc

SEGMENTAL ANALYSIS
for the year ended 31 December 1999

Activity analysis

                                          Turnover            Operating Profit
                                       1999       1998        1999        1998
                                        £'m        £'m         £'m         £'m
Class of business                                                             
                                                                     
Photographic and retail display        69.5       62.8        19.7       19.5
                                                                              
Broadcast camera systems               59.9       59.8        13.1       15.6
                                                                              
        
Communications and audio               15.9       11.9         1.7        1.4
                                                                              
        
Broadcast services                     26.1       25.4         3.7        3.3
                                                                              
        
Goodwill amortisation                     -          -        (0.5)      (0.2)
                                     ______     ______      ______     ______
                                      171.4      159.9        37.7       39.6
Discontinued operation                    -        2.4           -        0.2
                                     ______     ______      ______      ______
                                      171.4      162.3        37.7       39.8
                                     ______     ______      ______      ______
                                                                              
        


                                          By destination            By origin
                                       1999       1998        1999        1998
                                        £'m        £'m         £'m         £'m
Geographical turnover                                                         
              
United Kingdom                          7.7        8.0        23.4        21.8
                                                                              
        
The rest of Europe                     44.0       37.2        66.5        59.7
                                                                              
        
The Americas                           99.5       95.4        78.6        76.5
                                                                              
        
Asia and Australasia                   17.5       16.4         2.9         1.9
                                                                              
        
Africa and Middle East                  2.7        2.9           -           -
                                     ______     ______      ______      ______
                                      171.4      159.9       171.4       159.9
                                                                              
        
Discontinued operation                    -        2.4           -         2.4
                                     ______     ______      ______      ______
                                      171.4      162.3       171.4       162.3
                                     ______     ______      ______      ______
                                                                              
        
                                        
                                        
                                        
VITEC GROUP plc

CONSOLIDATED BALANCE SHEET
as at 31 December 1999
                                        
                                        
                                                           1999        1998
                                                            £'m         £'m
Fixed assets                                                               
Intangible assets                                          10.0         6.9
Tangible assets                                            37.5        37.0
                                                         ______      ______
                                                           47.5        43.9
                                                         ______      ______
Current assets                                                             
Stocks                                                     29.1        30.6
Debtors                                                    32.6        33.2
Cash at bank and in hand                                   32.8        26.5
                                                         ______      ______
                                                           94.5        90.3
Creditors - due within one year                           (33.7)      (30.0)
                                                         ______      ______
                                                                           
Net current assets                                         60.8        60.3
                                                         ______      ______
                                                                           
Total assets less current liabilities                     108.3       104.2
                                                                           
Creditors - due after more than one year                 (57.3)      (16.2)
                                                                           
Provisions for liabilities and charges                    (5.9)       (5.9)
                                                                           
                                                         ______      ______
Net assets                                                 45.1        82.1
                                                         ______      ______
                                                                           
Capital and reserves                                                       
Called up share capital                                     8.2         9.8
Share premium account                                       2.3         1.7
Capital redemption reserve                                  1.6           -
Revaluation reserve                                         1.5         1.5
Profit and loss account                                    30.6        68.3
                                                         ______      ______
                                                                           
Shareholders' funds - equity                               44.2        81.3
                                                                           
Minority interest - equity                                  0.9         0.8
                                                         ______      ______
                                                           45.1        82.1
                                                         ______      ______
                                                                           
                                        
                                        
                                        
VITEC GROUP plc

CONSOLIDATED CASH FLOW STATEMENT
for the year ended 31 December 1999
                                        
                                                           1999        1998
                                                            £'m         £'m
Net cash inflow from operating activities                  51.1        43.3
                                                                           
Returns on investments and servicing of finance                            
Interest received                                           0.7         1.0
Interest paid                                              (1.6)       (1.8)
                                                         ______      ______
Net cash outflow for returns on investments and                            
servicing of finance                                       (0.9)       (0.8)
                                                         ______      ______
                                                                           
Tax paid                                                  (10.6)      (14.1)
                                                         ______      ______
                                                                           
Capital expenditure                                                        
Purchase of tangible fixed assets                         (10.7)      (11.0)
Sale of tangible fixed assets                               0.3         0.4
                                                         ______      ______
Net cash outflow for capital expenditure                 (10.4)      (10.6)
                                                                           
Acquisitions and disposal                                                  
Purchase of subsidiary undertakings                       (4.8)       (9.4)
Sale of subsidiary undertaking                                -        0.6
                                                         ______      ______
Net cash outflow for acquisitions and disposal            (4.8)       (8.8)
                                                                           
Equity dividends paid                                     (7.8)       (6.8)
                                                         ______      ______
                                                                           
Net cash inflow before use of liquid                       16.6         2.2
resources and financing                                                    
                                                                           
Management of liquid resources                                             
Cash funds under management                                   -         5.2
                                                                           
Financing                                                                  
Issue of shares                                             0.6         0.5
Purchase of shares                                        (50.7)          -
Net receipt/(repayment) of loans                           41.1        (4.6)
                                                         ______      ______
Net cash outflow from financing                            (9.0)       (4.1)
                                                         ______      ______
Increase in cash in the period                              7.6         3.3
                                                         ______      ______
                                                                           
                                        
                                        
                                        
VITEC GROUP plc

OTHER INFORMATION
for the year ended 31 December 1999


Reconciliation of operating profit to net cash flow             
from operating activities
                                                           1999        1998
Continuing operations                                       £'m         £'m
                                                                           
Operating profit                                           37.7        39.6
Goodwill amortisation                                       0.5         0.2
Depreciation                                                8.6         7.8
(Profit)/loss on sale of fixed assets                      (0.1)        0.2
Increase in provisions                                      0.3         0.2
Decrease/(increase) in stock                                1.3        (1.5)
Increase in debtors                                        (0.6)       (1.5)
Increase/(decrease) in creditors                            3.4        (2.4)
                                                         ______      ______
                                                           51.1        42.6
Discontinued operation                                        -         0.7
                                                         ______      ______
Net cash inflow from operating activities                  51.1        43.3
                                                         ______      ______
                                                                           


Total recognised gains and losses and reconciliation            
of shareholders' funds
                                                           1999        1998
                                                            £'m         £'m
                                                                           
Profit for the financial year                              25.2        27.6
 Exchange rate movements and related tax on foreign        (4.6)        3.1
net investments
                                                         ______      ______
Total recognised gains relating to the year                20.6        30.7
                                                                           
Dividends                                                  (7.6)       (7.9)
New share capital subscribed                                0.6         0.5
Purchase of shares                                        (50.7)          -
Writeback of goodwill from reserves                           -         0.7
                                                         ______      ______
                                                         (37.1)        24.0
Opening shareholders' funds                                81.3        57.3
                                                         ______      ______
Closing shareholders' funds                                44.2        81.3
                                                         ______      ______