Chairman’s Statement Cont.

I can advise, however, that sales for November were 50% higher on the month than 2006, with December approximately 20% higher. The Board anticipates that the first half contribution will be supported by increased revenue in the second half.

The Company’s balance sheet remains strong with net assets of £3,318,624 (2006: £3,392,672), representing a net asset value of 60.1 pence per share (2006: 61.4 pence per share).

The Company’s current product inventory is higher than 2006 due to an increase in anticipated 2008 spring and summer business.

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