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Tibbett & Britten (TBG)

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Thursday 27 March, 2003

Tibbett & Britten

M&S UK Contract

Tibbett & Britten Group PLC
27 March 2003

                                                                 27th March 2003


                          TIBBETT & BRITTEN GROUP PLC

                          MARKS & SPENCER UK CONTRACT


Tibbett & Britten Group plc ('TBG'), the leading UK based international contract
logistics and supply chain company, announces that its UK general merchandise
warehousing contract with Marks & Spencer plc ('M&S') will cease from 29th March
2003.

Under the terms of the contract, M&S will make a cash payment of approximately
£23 million to T&B for the assets to be transferred and will, in addition, pay
the contract termination costs.

This UK warehousing contract covers three facilities that represent less than 2%
of T&B's turnover.  The cessation of this contract will not materially impact on
Group profitability in 2003 and 2004.  The affected employees will be
transferred to the new logistics contractor.  T&B will continue to provide other
services to M&S including its wine operations and the Joint Retail Logistics
joint venture.

John Harvey CBE, Chairman of T&B, said: 'M&S have confirmed that their decision
was not based on operational performance.  As M&S consolidates operations, our
proposals would have delivered significant on-going cost savings whilst
generating appropriate returns for our shareholders.  We are disappointed that 
M&S did not find these proposals acceptable, although we are naturally pleased
that M&S will remain a significant customer.'

Enquiries:

Tibbett & Britten Group plc                                        020 8327 2000
Mike Arrowsmith, Chief Executive


Hudson Sandler Limited                                             020 7796 4133
Andrew Hayes/Jessica Rouleau


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

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