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Havelock Europa PLC (HVE)

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Friday 28 January, 2005

Havelock Europa PLC

Trading Update

Havelock Europa PLC
28 January 2005

                              HAVELOCK EUROPA PLC

                        Pre-Close Season Trading Update

Havelock, the Education Supply, Point of Sale Display and Retail Interiors
group, proposes to announce its results for the year ended 31 December 2004 on 5
April 2005. The Board expects these results to show a third successive annual
underlying increase and to be in line with market expectations. Point of Sale
Display has had a good year, Retail Interiors has traded better than expected,
and 2004's two Education Supply acquisitions - TeacherBoards and Clean Air -
have both made an excellent contribution. ESA McIntosh, the UK market leader in
science laboratories and fitted furniture for schools, will again contribute
substantially to profits, but at a lower level than was originally expected, as
a result of contract slippage.

There is clear evidence, within the PFI market served by ESA McIntosh, that a
number of projects, most notably those where Jarvis is or was originally the
main contractor, are moving more slowly than was previously anticipated with the
result that a number of projects originally scheduled for 2005 will now take
place in 2006 and 2007. This will constrain ESA McIntosh's growth in 2005 as
compared with earlier expectations although the group continues to expect strong
growth overall.

Havelock remains on track with its plan to develop higher growth, more
profitable businesses and the outlook remains positive.


Havelock Europa PLC                                           01383-820 044
Hew Balfour (Chief Executive)                                 07801-683 851
Graham MacSporran (Finance Director)                          07801-683 803

Bankside Consultants Limited
Charles Ponsonby                                              020-7444 4166

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