AGM Statement

Carphone Warehouse Group PLC
30 July 2002


Strictly embargoed until 07.00am 30 July 2002

                        The Carphone Warehouse Group PLC

                             Annual General Meeting

              Current Trading Statement - 30 March to 27 July 2002

  • Strong growth in connections, like for like revenue and like for like
    gross margin
  • Continued growth in recurring revenues

At the Annual General Meeting of The Carphone Warehouse Group PLC, to be held
today (30 July 2002) at 11.00am, Chairman, Hans Roger Snook, will make the
following statement on trading.

'At the time of our full year results on 6 June 2002, we announced that
connection numbers, like for like revenue and like for like gross margin were up
significantly over the same period the year before. This was particularly so for
the four weeks of May, which represented the first comparable period since the
sharp increase in UK mobile operators' pre-pay phone prices on 1 May 2001.

'I am delighted to report that this trend has continued both in our UK and our
Continental European operations. For the 12 weeks since 5 May total connections,
including sim free handsets were up 23.9%, like for like Group retail revenues
were up 10.6% and like for like gross margin was up 9.2%.

'For the 17 weeks to 27 July 2002, total connections including sim free
handsets, were up 16.0% to 1,160,000 of which 557,000 were higher value
subscription connections. On a like-for-like basis Group retail revenues and
margin were up 5.2% and 5.0% respectively.

'Over the year to date, the Group has also continued to grow its recurring
revenues, further improving the quality of earnings and increasing the lifetime
value of our customer base. As at 27 July 2002 our insurance policyholder base
had risen to 975,000 and our telecoms services base had risen to 1,086,000.

'We are confident that our retail marketplace has now established a firm level
and that, within this market, The Carphone Warehouse Group will continue to
benefit from its growing market share, high quality sales mix and increasing
quality of earnings. We also see potential opportunities to strengthen our
position in the after sales service segments of our market and to capitalise
further on our reputation for impartial, expert advice as new generation mobile
devices and applications steadily grow in availability and diversity.'



                                      ENDS

For further information

The Carphone Warehouse Group PLC          07947 000 021

Charles Dunstone 07771 868 601

Roger Taylor

Tristia Clarke

Citigate Dewe Rogerson                    07968 727 289

Chris Barrie                              020 7638 9571



www.carphonewarehouse.com




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