AGM Statement

Hornby PLC
24 July 2003


                            CHAIRMAN'S AGM STATEMENT

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

' I wrote in my recent Chairman's Statement for the year ended March 31st 2003,
that 'Your Board believes that there are significant opportunities to grow our
business organically'. I am delighted to report that the Group's trading in the
first few months of the current year has met our expectations.

' Sales of both our Hornby and Scalextric ranges are encouraging. These have
been assisted by a number of important new product launches, such as the 8F and
King Locomotives and 'The Simpsons' Micro Scalextric.

' Our UK channels of distribution have performed well and we have also seen
further improvements in performance, both from our US and other overseas
markets.

' Looking to the future, the Group's prospects remain bright. The ongoing
increase in interest in both Hornby and Scalextric is being matched by an
encouraging level of sales.

' The Board looks forward to reporting further progress.'

                                     -ends-

Date: 24 July 2003

For further information contact:

Hornby Plc                                               City Profile Group
Frank Martin, Chief Executive                            Simon Courtenay
John Stansfield, Finance Director                        020-7448-3244
01843-233500
Web: www.hornby.com or:
www.scalextric.com


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