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Oliver Group PLC (OVRF)

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Friday 31 March, 2000

Oliver Group PLC

Final Results - Year Ended 29 January 2000

Oliver Group PLC
31 March 2000

                     The Oliver Group Plc
          The national chain of family footwear shops

                 1999/2000 Preliminary Results


                                              For the 52 weeks ended
                                       29 January 2000  30 January 1999

    Turnover                                   £72.9m         £73.9m

    Operating loss pre- exceptional items     £(2.08)m       £(718,000)

    (Loss) on ordinary activities before tax   £(2.9)m       £(107,000)

    Basic (Loss) per ordinary share            (5.82)p         (0.28)p

     30%  of total portfolio now converted to Olivers Timpson
     'family' format - sales from these stores represent nearly 50%
     of Group  sales.  Like for like growth in these stores  was
     +3.1%, almost 9% better than in unconverted stores.

'Whilst  given  the  level  of financial  investment  and  the
operational  and  product improvements made, the  results  are
particularly  disappointing, it is  nonetheless  important  to
view  them in the context of a very difficult period  for  the
specialist clothing and footwear sector as a whole.

Against  this difficult trading background the board continues
to  review  all  possible  avenues to  achieve  the  best  way
forward.

As far as the footwear sector is concerned, we do believe that
for  most  of  the  remaining specialist  market  participants
rationalisation  is the logical next step towards  securing  a
profitable future. As we have stated we intend to play a  full
and active part in the consolidation of the sector.'

                    FULL STATEMENT BELOW


Enquiries:
Doug Rogers, Chairman                  Fiona Tooley
Martin Watts, Chief Executive          Citigate Dewe Rogerson
Paul Ryan, Group Finance Director      Tel No. 0121 631 2299
The Oliver Group Plc
Tel No. 0116 222 3007
                              -2-


                     The Oliver Group Plc
                 1999/2000 Preliminary Results

STATEMENT BY THE CHAIRMAN, DOUG ROGERS
The  year  ended 29 January 2000 was a difficult one  for  the
Company.  Trading conditions were tough, particularly  in  the
second  half; for much of the year management was involved  in
merger discussions which, in the end, were abortive; and there
were  significant  changes to the composition  of  the  board,
culminating  in my appointment and those of Donald  Macpherson
and David Stevenson in October 1999.

The  results  for  the  period may be summarised  as  follows.
Turnover for the 52 weeks ended 29 January 2000 was down  1.4%
to   £72.9m   (1998/99:  £73.9m).   Gross   profit   excluding
exceptional   items  was  £2.8m  (1998/99:   £4.5m).    Normal
distribution  and administrative costs were down  by  6.7%  to
£4.9m  (1998/99:  £5.3m) and £151,000  of  exceptional  merger
costs  (1998/99: £nil) were incurred.  There  was  a  loss  on
disposal of properties of £89,000 (1998/99: loss £90,000)  and
net  interest  payable was £0.6m (1998/99: £0.6m).   The  loss
before tax was £2.9m (1998/99: loss £107,000).  The tax charge
is  £nil  (1998/99: £nil).  The results represent  a  loss  of
5.82p  per ordinary share (1998/99: loss of 0.28p per ordinary
share) and no dividend will be paid.

My  appointment  in October 1999 followed a  period  in  which
there had already been board changes. Denis Cassidy retired as
Chairman  and John Purling retired as Buying Director  in  May
1999  while my predecessor as Chairman, Alan Cole, and a long-
serving non-executive director, Mervyn Blakeney, both resigned
on  13  October  1999.  It is appropriate to record  here  the
board's thanks to all the above former board members for their
contributions to the business over a period of years.

I took up the challenge of the Chairmanship because I believed
then,  as I still do, that the basic qualities of the business
and  the  fact  that  it is operating in  a  difficult  market
sector,    which   is   itself   undergoing    long    overdue
reorganisation, represented an opportunity to create value for
shareholders.   In the coming months I will be taking  a  more
direct  operational role within the business as Martin  Watts,
who  has  been  Chief Executive since 1998 having  joined  the
business  as Managing Director in 1995, has decided to  retire
from  retailing by the time of the Annual General  Meeting  in
May  to  take  up  an executive role with a  major  charitable
trust.   We  wish Martin all the very best in his new  venture
and thank him for his significant contribution to the business
over the last four and a half years.

Against a difficult trading background the board continues  to
review  all possible avenues to achieve the best way  forward.
As  part  of  the  board's  review, an independent  specialist
consultant was commissioned to report formally on whether  the
significant  imbalance  between the  relative  values  of  the
surplus  in the pension fund and the market capitalisation  of
the  Company gave rise to an opportunity to create shareholder
value.  Having assimilated the report and having taken further
legal  advice, the board has determined that the circumstances
do  not  exist to exploit that differential in any better  way
than  the  continuation  of  the  contribution  holiday  which
represents an annual benefit of c.£600,000 to the business.

As far as the footwear sector is concerned, we do believe that
for  most  of  the  remaining specialist  market  participants
rationalisation  is the logical next step towards  securing  a
profitable future. As we have stated we intend to play a  full
and active part in the consolidation of the sector.
                              -3-


                     The Oliver Group Plc
                 1999/2000 Preliminary Results

REVIEW BY THE CHIEF EXECUTIVE, MARTIN WATTS
After  two  years  of  recovery and progress  in  1997/98  and
1998/99  it  is extremely disappointing to be reporting  on  a
year  of setback in 1999/2000 in which we were unable to  make
the breakthrough into profit that we had anticipated.

Whilst   given   the  level  of  financial   investment,   the
operational and product improvements made and the considerable
efforts  of  the  staff within the business, the  results  are
particularly  disappointing, it is  nonetheless  important  to
view  them in the context of a very difficult period  for  the
specialist clothing and footwear sector as a whole.

THE MARKET
Across  the  year  the market was largely flat  with  the  key
product  categories of ladies', men's and children's  footwear
all  showing declines while casual footwear in the sports  and
slippers  categories showed some small levels of growth.   The
market in total showed no growth in either volume or value.

Specialist  footwear multiples and independents  continued  to
lose share as more participants in different categories of the
retail sector either entered the market with capsule ranges or
expanded the floorspace devoted to footwear.

These  predictable market characteristics nevertheless mask  a
continued  period  of turmoil and unexpectedly  severe  market
distortion  within the sector in 1999.  The   well  publicised
problems  of  major variety stores, the high level  of  excess
stocks  discounted by the market principals and the commercial
actions arising from the substantial losses reported by  other
major  specialists all had a direct impact on our performance.
The  scale  of  the market distortions was such  that  trading
conditions  could only be described as turbulent.  The  second
half  year  was  particularly difficult as the combination  of
extreme  discounting  by competitors, the  exceptionally  mild
weather  and  the  low level of Christmas  demand  within  our
sector combined not only to halt, but also to reverse, some of
the  considerable improvements in performance made over recent
years.

OPERATIONAL PERFORMANCE
In  such  testing  conditions we  have  remained  focussed  on
maximising sales, managing inventory levels and improving  the
product  offering in order to increase customer awareness  and
loyalty.  We believe that we have been successful in achieving
these  objectives,  particularly  in  the  modernised  Olivers
Timpson 'family' stores.

Indeed  the monthly independent mystery shopping survey  which
monitors the level of customer service given by both  our  own
and  our  competitors' stores once again confirms considerable
progress  in  the  measurement 'guarantee  to  return'  which,
cumulatively  for  the year, has moved up by  five  percentage
points to 80%.

                             -4-


Whilst like for like sales fell by 2.4% in the year as a whole
and  our like for like performance against the market was down
3.5% as the major competitors sustained market share with deep
discounts  on  massive  quantities  of  stock,  our   relative
performance over two years remained ahead of the market by  c.
2%.

Encouragingly  our  most  important  product  group,   ladies'
footwear,  showed  positive like for like sales  growth  while
men's,  children's  and  teens'  product  all  produced  solid
performances.  It was in the sports and slippers product areas
that  we performed poorly but, in both of these groups,  where
sales  mix  is distorted on conversion to the Olivers  Timpson
format,  product  development  and  clear  focus  on  the  two
different  target  markets within our business  give  us  more
optimism for future performance.

Across  the whole business we increased the average price  per
pair  sold  by 10% and improved net achieved product  margins.
The successful introduction of famous branded product such  as
Hush  Puppies and Lotus has led in particular to  the  average
price  in  the  Olivers Timpson 'family'  stores  being  c.30%
higher than in the unconverted stores.

Our  supplier  base was consolidated further as  we  increased
product volumes through those particular suppliers around  the
world  with whom strong partnerships have been built.  We  are
grateful  to them for their excellent product development  and
service to the Company.

Central operating costs were again reduced as the benefits  of
systems  development  in earlier years  continued  to  produce
productivity  gains.  The Company's operations have  continued
seamlessly  into the year 2000, a testament to the  hard  work
and  detailed preparation of the in-house team over  the  past
few years.

THE OLIVERS TIMPSON  'FAMILY' FORMAT
We  continued  to  invest   in the  Olivers  Timpson  'family'
format,  modernising  a  further 43 stores  taking  the  total
number  converted or acquired to 82 stores at the end  of  the
year,  30% of the total portfolio.  Turnover from these stores
now represents nearly 50% of Company sales.

The   average  investment  per  store  has  been  higher  than
originally  envisaged  for  our  premier  located  shops   but
nevertheless  the speed of payback remains very close  to  our
original   target.    The  combination   of   improved   store
environment, enhanced and branded product and quality customer
service  has  undoubtedly  'repositioned'  these  stores   and
increased their appeal to the more affluent C1 C2 customer.

The  programme to date has been intensive and focussed on  the
larger  stores and key locations.  Future conversions will  be
at  a much reduced pace and at a significantly lower cost  per
store  as  the middle to lower levels of store become  in  due
course the subject of conversion.

THE FUTURE
Market  conditions continue to be extremely  challenging.   We
remain  focussed on tight control of costs and  stocks  as  we
prepare  to  ride  the  storm of continued  market  distortion
arising from extreme competitor actions.

                              -5-


As   the  Chairman  has  mentioned,  the  Company  was   again
frustrated  in  its  efforts in 1999 to  achieve  a  corporate
merger.  However, the board will continue to strive to achieve
the best solution for the business and its shareholders as the
sector continues to restructure fundamentally.

Finally, I wish to announce that I will be leaving the Company
by the time of the AGM on 30 May 2000.  Olivers has faced many
different challenges over the past four and a half years  and,
despite  the difficulties, I have enjoyed leading the  Company
in  its  response  to them.  However, after  thirty  years  of
retailing  I  have decided that I need a new purpose  and  now
greatly look forward to starting a 'second career' within  the
care sector for the elderly with the Orders of St John Trust.

I  would like to record my sincere thanks to all the staff for
their  enormous hard work and contribution together  with  the
active support from our suppliers and many shareholders.

I  hope  that the future will bring the success to the Company
that  the  investment  by shareholders  and  the  talents  and
dedication of the staff so richly deserve.
                              -6-


                     The Oliver Group Plc
                 1999/2000 Preliminary Results

OPERATING  &  FINANCIAL REVIEW BY THE GROUP FINANCE  DIRECTOR,
PAUL RYAN

SUMMARY OF RESULTS
In  the fifty-two week period ended 29 January 2000, the Group
recorded  a  loss  after  taxation  of  £2.9m  (1998/99:  loss
£107,000).

Excluding   the  impact  of  property  (losses)/   gains   and
exceptional  items,  the earnings before  interest,  taxation,
depreciation   and  amortisation  ('EBITDA')   were   £180,000
(1998/99: £1.18m).

The  Group  ended  the period with net assets  of  £18.0m  (30
January 1999: £20.9m) representing a net asset value per share
of 35.6p (30 January 1999: 41.4p).

PROFIT AND LOSS ACCOUNT
Turnover
Total  sales  were £72.9m (1998/99: £73.9m),  a  reduction  of
1.4%. Whilst total sales declined, the average gross sales per
store  increased by 1% to £298,000 (1998/99: £293,000) as  the
average  number  of  stores trading  declined  to  278  stores
(1998/99: 285 stores).

Total  like  for like sales fell by 2.4%, which represented  a
second  half like for like decline of 6.3% following the  2.4%
like for like gain achieved in the first half. For the year as
a  whole  the like for like performance of the Olivers Timpson
'family' format stores was +3.1% which was 9% better  than  in
unconverted stores.

As  at  29 January 2000 there were 82 Olivers Timpson 'family'
format  stores of which 69 were conversions of existing  Group
stores  and  13  were  relocations  or  new  stores.  Of   the
conversions, 31 stores had completed their first full year  of
trading post conversion. The average level of first year sales
growth in those stores was +27%.

Gross Profit
Gross  profit  before  exceptional items was  £2.8m  (1998/99:
£4.5m). Within gross profit, net achieved product margins were
up  0.6  percentage points but the offsetting  impact  of  the
decline  in  total sales volumes resulted in  a  fall  in  the
sterling value of net achieved product margin of 0.4%.

Store  and related retail costs were up by 4.9%. Of the  total
increase, fixed property costs, depreciation and labour  costs
were  the main components, the latter two categories resulting
principally from the programme of store conversions during the
year.
                             -7-


Costs
Total  normal distribution and administrative costs were £4.9m
(1998/99:  £5.3m)  a  reduction  of  6.7%  year  on  year.  In
addition,  costs of £151,000 (1998/99: £nil) were incurred  in
the  course  of  merger negotiations with  another  specialist
footwear retailer. The discussions on the proposed transaction
were  terminated  in September 1999 and the  associated  costs
have been charged as an exceptional administrative expense.

Loss on disposal of properties
During  the period 12 stores (1998/99: 14 stores) were  closed
and  sold. In addition, contracts were exchanged and completed
on  3  other  property transactions: first the disposal  of  8
small freehold stores, the closure of which is set for the end
of  April 2000; secondly the surrender of tenancy rights in  a
short leasehold store; and thirdly the split and part disposal
of a large double unit in a major town. The combined impact of
all  these  transactions was a loss of £89,000 (1998/99:  loss
£90,000).

Net interest payable
Net interest payable was £0.6m (1998/99: £0.6m).

(Loss) on ordinary activities before taxation
The  resulting loss on ordinary activities before taxation was
£2.9m  (1998/99: loss £107,000). The taxation charge was  £nil
(1998/99: £nil).

BALANCE SHEET
Fixed assets and capital expenditure
Capital  additions  during  the period  were  £4.4m  (1998/99:
£3.8m)  while  the  net book value of disposals  was  £856,000
(1998/99:   £117,000).  The  depreciation  charge  was   £2.3m
(1998/99:  £1.9m)  and the year end net book  value  of  Group
fixed assets was £18.5m (30 January 1999: £17.2m).

Of the additions, £3.6m (1998/99: £3.0m) was in respect of new
stores, refurbishments and other store projects. There were  3
new  stores  (1998/99: 11 new stores) and 40 store conversions
in  the  period  (1998/99: 17). General store expenditure  was
£0.5m  (1998/99:  £0.4m) and non-store expenditure  was  £0.3m
(1998/99: £0.4m).

Property  disposals  included 10 freehold  or  long  leasehold
properties  leaving a total of 39 freehold and long  leasehold
properties (30 January 1999: 49).

Stocks and working capital
At  29 January 2000 stock was £12.1m (30 January 1999: £12.0m)
while  the  stockturn  achieved in the period  was  2.1  times
(1998/99: 2.0 times).

Movements  in  working capital resulted in a cash  outflow  of
£0.5m (1998/99: outflow £0.5m).
                              -8-


Borrowings and cash flow
In  the period the cash flow from operations was an outflow of
£0.6m (1998/99: inflow £1.9m).

Net  debt  at  29  January 2000 was £8.4m  (30  January  1999:
£3.8m).  The increase in the period was primarily due  to  the
intensive  capital expenditure programme which  accounted  for
£4.2m  cash  spend. At 29 January 2000 gearing was  46.6%  (30
January  1999: 18.0%). The end of January is a  point  in  the
trading  cycle when borrowings are relatively low;  the  peaks
arise  in  March/April and in July when the  impact  of  stock
building combines with quarterly rent-roll payments.

ACCOUNTING POLICIES
The accounts reflect for the first time the implementation  of
FRS   13   'Derivatives   and  other  financial   instruments:
disclosures'  and  comply  in all material  respects  with  UK
accounting standards.
                              -9-


                     The Oliver Group Plc
                 1999/2000 Preliminary Results
              CONSOLIDATED PROFIT & LOSS ACCOUNT

                                   For the        For the
                            52 weeks ended  52 weeks ended
                           29 January 2000  30 January 1999
                              £'000  £'000   £'000   £'000
Turnover                             72,876        73,917
Cost of sales - normal items  70,052         69,374
       - exceptional item          -         (1,323)
                                     70,052        68,051
Gross profit                          2,824         5,866
Distribution costs             2,515          2,635
Administrative expenses 
 - normal items                2,391          2,626
            - exceptional item   151              -
                               2,542          2,626
                                      5,057         5,261
Operating (loss)/profit              (2,233)          605
(Loss) on disposal of properties        (89)          (90)
(Loss)/profit on ordinary activities
before interest                      (2,322)          515
Net interest payable                   (620)         (622)
(Loss) on ordinary activities 
before tax                           (2,942)         (107)
Tax on (loss) on ordinary activities      -             -
Retained (loss) for the financial period
for equity shareholders              (2,942)         (107)
Basic (loss) per ordinary share       (5.82)p       (0.28)p



The  Group has made no material acquisitions and no operations
have   been  discontinued  during  the  current  or  preceding
accounting periods.
                             -10-


                     The Oliver Group Plc
                 1999/2000 Preliminary Results
                     ADDITIONAL STATEMENTS

NOTE OF CONSOLIDATED HISTORICAL COST PROFITS AND LOSSES
                                        For the 52For the 52
                                       weeks endedweeks ended
                                    29 January30 January
                                              2000   1999
                                             £'000  £'000
Reported   (loss)  on  ordinary  activities  
before   taxation                           (2,942)  (107)
Realisation of property revaluation gains 
of previous  periods                           293     15
Historical cost (loss) on ordinary 
activities before  taxation                 (2,649)   (92)
Historical cost retained (loss)             (2,649)   (92)





CONSOLIDATED STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES
                                        For the 52For the 52
                                       weeks endedweeks ended
                                      29 January   30 January
                                            2000         1999
                                             £'000      £'000
(Loss) for the financial period             (2,942)      (107)
Prior year adjustments                           -       (458)
Total  recognised  gains and losses for  
the  period                                 (2,942)      (565)



RECONCILIATION OF MOVEMENTS IN GROUP SHAREHOLDERS' FUNDS
                                        For the 52For the 52
                                       weeks endedweeks ended
                                    29 January   30 January
                                          2000         1999
                                           £'000      £'000
(Loss) for the financial period            (2,942)     (107)
Proceeds of share issue                         -     6,320
Associated expenses written off against 
share premium  account                          -      (912)
Net  (decrease)/increase  in  
shareholders' funds                        (2,942)    5,301
Shareholders' funds   at  the  beginning   
of   the   period                          20,949    15,648
Shareholders'  funds  at the end of  
the  period                                18,007    20,949

                             -11-


                     The Oliver Group Plc
                 1999/2000 Preliminary Results
                        BALANCE SHEETS
           as at 29 January 2000 and 30 January 1999

                               The Group    The Company
                         1999/2000 1998/99 1999/2000 1998/99
                              £'000  £'000   £'000  £'000
Fixed assets
Tangible assets              18,466 17,227   5,124   5,279
Investments                       -      -  22,181  23,971
                             18,466 17,227  27,305  29,250
Current assets
Stocks                       12,052 11,953     991     954
Debtors                       4,734  4,200  12,007   7,794
Cash at bank and in hand        192    262     192     262
                             16,978 16,415  13,190   9,010
Creditors
Amounts falling due within 
one year                     17,027 12,119  24,411  19,070
Net current (liabilities)/assets(49) 4,296 (11,221)(10,060)
Total assets less current 
liabilities                  18,417 21,523  16,084  19,190
Creditors
Amounts falling due after 
more than one year              168    184     168     184
Provisions for liabilities 
and charges                     242    390     242     390
                             18,007 20,949  15,674  18,616
Capital and reserves
Called up share capital      12,641 12,641  12,641  12,641
Share premium account           994    994     994     994
Revaluation reserve           4,852  5,145     322     322
Capital redemption reserve      125    125     125     125
Profit and loss account        (605) 2,044   1,592   4,534
Equity shareholders' funds   18,007 20,949  15,674  18,616

                             -12-


                     The Oliver Group Plc
                 1999/2000 Preliminary Results
               CONSOLIDATED CASH FLOW STATEMENT

                                        For the 52 For the 52
                                       weeks ended weeks ended
                                       29 January  30 January
                                              2000   1999
                                             £'000     £'000
Net    cash   (outflow)/inflow   from   
operating   activities                        (637)    1,925
Returns  on  investments and servicing  
of  finance                                   (549)     (421)
Taxation                                       (6)         2
Capital expenditure                          (3,261)  (3,798)
Cash (outflow) before financing              (4,453)  (2,292)
Financing                                      (246)   5,003
(Decrease)/increase  in cash  in  the  period(4,699)   2,711
Reconciliation of net cash flow to 
movement in net debt
(Decrease)/increase in cash in the period    (4,699)   2,711
Cash outflow from decrease in debt, 
finance lease and hire purchase financing       246      405
Change in net debt resulting from cash flows (4,453)   3,116
New finance leases                             (167)    (150)
Movement in net debt in the period           (4,620)   2,966
Net debt at 30 January 1999                  (3,767)  (6,733)
Net debt at 29 January 2000                  (8,387)  (3,767)

                             -13-


                     The Oliver Group Plc
                 1999/2000 Preliminary Results
               NOTES TO THE FINANCIAL STATEMENTS

1.   Exceptional Items                         1999/2000   1998/99
                                                   £'000     £'000
  Costs of sales - Following an internal Group
  re-organisation in 1996, a VAT benefit accrued
  to the Group, the technical factors relating to
  which were clarified in 1998/99.  The amount of
  the benefit was credited in full to the profit and
  loss account in 1998/99.                             -   (1,323)

  Administrative expenses
  Legal and professional costs in respect of
  aborted merger/ acquisition                        151         -


2. Group Reserves
                              Share             Capital   Profit
                           premium Revaluation redemption and loss
                           account   reserve   reserve    account
                             £'000     £'000     £'000      £'000

  At 30 January 1999          994      5,145       125      2,044

  Retained loss for the period  -          -         -     (2,942)

  Transfer to the profit and
  loss account on disposal of
  properties                    -       (293)         -       293

  At 29 January 2000          994      4,852        125      (605)


3.Notes to the consolidated cash flow statement

  Reconciliation of operating (loss)/ profit to net cash
  (outflow)/ inflow from operating activities:
                                 For the          For the
                              52 weeks ended  52 weeks ended
                             29 January 2000  30 January 1999
                                       £'000         £'000

  Operating (loss)/ profit            (2,233)           605
  Depreciation charge                  2,262          1,896
  Profit on sale of other fixed assets    (2)           (6)
  Movement on provisions                (148)          (68)
  (Increase) in stocks                   (99)       (1,315)
  (Increase) in debtors                 (528)         (528)
  Increase in creditors                  111         1,341

  Net cash (outflow)/ inflow from
  operating activities                  (637)        1,925

                             -14-


4.                (Loss) per ordinary share

  Basic
   The loss per share has been computed on the basis of a loss
   of £2,942,000 (1998/99: £107,000) and on the average number
   of  shares in issue during the year of 50,564,772 (1998/99:
   38,131,950).  The number of shares in issue at  29  January
   2000 was 50,564,772.

  Diluted
  The  diluted  loss  per share is the loss  per  share  after
  allowing   for  the  dilutive  effect  of  conversion   into
  ordinary  shares of the weighted average number  of  options
  outstanding  during  the year.  There  was  no  dilution  in
  respect of share options.


5.The  accounts and preliminary announcement were approved  by
  the  board on 31 March 2000.  The consolidated balance sheet
  at  29  January  2000 and the consolidated profit  and  loss
  account  for  the  52  week  period  then  ended  have  been
  extracted  from  the  Group's 1999/2000  statutory  accounts
  upon which the auditor's report is unqualified and does  not
  include  a  statement under section 237 (2) or  (3)  of  the
  Companies  Act 1985.  The statutory accounts will  be  filed
  with the Registrar of Companies in due course.

6.The  consolidated balance sheet at 30 January 1999  and  the
  consolidated profit and loss account for the 52 week  period
  then  ended  have been extracted from the Group's  statutory
  accounts  which  have  been  filed  with  the  Registrar  of
  Companies  upon  which the auditor's report was  unqualified
  and  did  not include a statement under Section 237  (2)  or
  (3) of the Companies Act 1985.


7.The  1999/  2000  Report  and Accounts  will  be  posted  to
  shareholders  and to the holders of loan notes  on  6  April
  2000.   After  that  date copies may be  obtained  from  the
  Company's Registered Office:-

  The Company Secretary
  The   Oliver  Group  Plc,  Murrayfield  Road,  Braunstone,
  Leicester, LE3 1DZ
  Telephone number: 0116 222 3000;  
  Facsimile number: 0116 222 3001


8.The  2000  Annual  General Meeting of The Oliver  Group  Plc
  will  be held at Murrayfield Road, Braunstone, Leicester  on
  Tuesday, 30 May 2000 at noon.


                                                                                                                                 

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