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Universe Grp. (UNG)

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Friday 14 May, 2004

Universe Grp.

AGM Statement

Universe Group PLC
14 May 2004



                               Universe Group plc

                  Chairman's Statement for the Annual Meeting


At the Universe Group Annual Meeting in London today, George Welham, the
Chairman, said:


'I have mentioned several times the potential significance of First Remit to the
Group.  Accordingly, I should like to bring shareholders up to date with out
progress at First Remit.


Between April 2003 and April this year the number of money transfer transactions
completed by First Remit grew at an average of 8 per cent per month compound.
This is in spite of the fact that in the second half of that period we
restrained transaction growth while we strengthened the management and control
systems, and reduced costs.  This has meant that, although breakeven will be
later than anticipated, we now have a more efficient business and will soon be
ready to increase the rate of growth.  We expect First Remit to be making a cash
profit month on month before the year is out.


Our closures programme for the bureaux de change is designed to restore some
measure of profitability to that activity; and I can tell you that recent weeks
have been profitable in Paris, our main area of activity.


With a strong order position at HTEC we are, all in all, anticipating a good
year, and again the second half of the year will be considerably better than the
first.'


All resolutions put to the meeting were passed by the shareholders.


For Further Information:


Universe Group plc
Ray Mackie, Group Chief Executive         023 8068 9510


Charles Stanley & Co Limited
Russell Cook                               020 7739 8200




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