Significant Shareholder

Character Group PLC
24 November 2003


          The Character Group PLC ('Character Group' or 'the Company')

                  Significant shareholder notification



Pursuant to the announcement made by the Company on 12 November 2001, the
Company was today informed by Valtidone SpA ('Valtidone'), that it has disposed
of 4,000,000 ordinary shares of 5p each in the Company ('Ordinary Shares'). The
Company was also informed that the shares have been sold to four professional
investors.

Following the disposal referred to above, Valtidone no longer has an interest in
any Ordinary Shares. However, Valtidone retains an interest in £3,000,000
nominal of the convertible loan note issued by the Company on 16 July 2001
which, if fully converted, would result in the issue to it of a further
7,500,000 new Ordinary Shares.


24 November 2003



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