New Partnership in Canada

Victoria PLC
04 February 2003


Issued by Citigate Dewe Rogerson Ltd, Birmingham

Date: Tuesday, 4 February 2003


                             Embargoed: 9.00am

                               VICTORIA P.L.C.

                           New Partnership in Canada


The Directors of Victoria P.L.C. ('Victoria') are pleased to announce the
formation of a new business relationship in Canada.



On 19 December 2002, Victoria acquired all of the shares it did not own in the
Canadian company, Colin Campbell & Sons Limited ('Campbells').  This involved
the purchase by Victoria of the 50% shareholding owned by the Campbell family.
The net assets of Campbells in its most recent audited accounts were C$1.03
million (£0.41 million).



Victoria has now reached agreement with a new business partner, Elte Carpets
Limited of Toronto, Canada ('Elte') and on 1 February 2003, Elte purchased a 50%
share in Campbells.



Elte is a leading Canadian retailer of high quality home furnishings, supplying
carpets, rugs, furniture and other decorative household goods from its showrooms
in Toronto.



Campbells is a decorative supply house and distributor of broadloom carpets and
floorcoverings, with its 'Studio Line' showrooms in Vancouver and Victoria,
British Columbia, and Calgary, Alberta.



Speaking of the new partnership, Alan Bullock, Victoria's Group Managing
Director, said:-


'I am delighted with the prospect of Elte's expertise in retailing being
available to Campbells. The synergies offered by the partnership will allow the
faster development of Campbells' business in the Eastern provinces of Canada.'



Ken Metrick, Elte's President added:


'I am excited by the prospect of being able to offer national
distribution of broadloom carpets and area rugs throughout Canada.'




Enquiries:
Bob Gilbert, Chairman Tel: [phone]                  Fiona Tooley
Mark Lee, Group Finance Director Tel: [phone]        Katie Dale Tel: [phone]
Victoria P.L.C.                                           Citigate Dewe Rogerson
                                                          Mobile: [phone] (FMT)





Note: Canadian dollars translated at C$2.53 = £1


                      This information is provided by RNS
            The company news service from the London Stock Exchange