EGM Statement

Tandem Group PLC
18 March 2003

18 March 2003



                                Tandem Group PLC



                                 Result of EGM



The Company today announces that the resolutions to facilitate the recommended
offer by Tandem Group PLC for MV Sports Group PLC ('Offer') announced on 3
February 2003, which were proposed at the Extraordinary General Meeting held
today, were duly passed.  Resolutions to effect a capital reorganisation
involving a reduction of share capital and consolidation, sub-division and
conversion of the company's ordinary shares were also passed.



Accordingly, the Company's ordinary shares of 4p each have been consolidated on
a 1 for 10 basis, and the resulting 40p shares have been subdivided and
converted into 1 new ordinary share of 4p each and 1 non-voting cancellable 'B'
ordinary share of 36p each (which will not be listed on any exchange).  The
effect of the reorganisation is that shareholders will receive 1 new ordinary
share of 4p each for every 10 ordinary shares of 4p each held on the record
date, being the close of business tonight.  Application has been made for the
25,382,208 new ordinary shares in existence after the capital reorganisation to
be admitted to trading on AIM and admission is expected to take place on
Thursday, 19 March 2003.



At a separate Court Meeting and EGM of MV Sports Group PLC held today all
resolutions were passed to approve the Scheme of Arrangement to facilitate the
Offer.



It is now anticipated that, subject to approval of the Scheme of Arrangements by
the Court, the Tandem Consideration Shares in respect of the Offer will be
admitted to trading on AIM on 9 April 2003.



Enquiries:



Mervyn Keene, Finance Director, Tandem Group plc      01733 211399

Adam Hart, KBC Peel Hunt                              020 7418 8900

David Haggie, Haggie Financial                        020 7417 8989


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