AGM Statement

Hornby PLC
25 July 2002



                            CHAIRMAN'S AGM STATEMENT

Speaking at the Annual General Meeting of Hornby Plc, ('Hornby') the models and
collectables Group, the Chairman Neil Johnson, made the following statement.

' I am pleased to confirm an encouraging start to the new financial year.

' We have launched successfully both the Scalextric Sport range featuring our
new track system and super detail cars, and the Race Management system. These
new products have been well received by customers in the UK and overseas and lay
the foundation for the development of Scalextric as an adult hobby activity.

' Our Hornby railway business has also continued to trade well and, with a
number of important new product introductions planned between now and Christmas,
we expect this trend to continue. In particular first deliveries of the
newly-tooled 'Black 5' are about to be made and this will be followed before
Christmas by deliveries of our completely new 'Pullman' range of coaches.

' We have also made good progress in developing our in-store concessions
distribution channel. We had targeted to increase the number of concessions from
28 to 50 during the current financial year. We have been able to accelerate this
programme owing to increased interest on the part of a number of regional toy
retail chains. We now have 35 concessions in operation and this number will
increase to 53 by mid August. All of these concessions will be trading actively
during the busy pre-Christmas period.

' It is pleasing to note that many of these new outlets are located in the
Midlands and the North, thus complementing our existing outlets, which are
predominantly located in the South. We believe there is further scope for
increasing our concessions outlets as more independent retailers come to
recognise the benefits to be derived from the professional management and
presentation of our ranges.'

                                     -ends-

Date: 25 July 2002

For further information contact:

Hornby Plc                                       City Profile Group


Frank Martin, Chief Executive                    Simon Courtenay

John Stansfield, Finance Director                Ed Senior

01843-233500                                     020-7448-3244 or 07958-754273                                          
               
   

Web: www.hornby.com or:                 e-mail: [e-mail]

www.scalextric.com





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