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Flying Flowers Ld (FBDU)

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Monday 04 September, 2000

Flying Flowers Ld


Flying Flowers Ld
4 September 2000

                   FLYING FLOWERS LIMITED
         Disposal of Bellbourne Group and Bunches BV
In 1998, Flying Flowers Limited ('Flying Flowers') announced
its  intention  to  dispose of the non-core  businesses  and
return  the  Group  to mail order activity.   Today,  Flying
Flowers  is  pleased  to  announce the  conclusion  of  this
process  with the sale of the business assets of  Bellbourne
Group  Limited  and  Bunches BV, which are  engaged  in  the
distribution of cut flowers to UK retail outlets.

A  consideration of approximately £600,000 is being paid  by
Gemco  Limited, a management buyout team. The net assets  of
the  businesses  at  30  June 2000 were  £864,000  of  which
£250,000 are being retained by the group.  Turnover  of  the
two  businesses  was  £9.1m in 1999 which  generated  pretax
profits of £0.3m.  A loss of approximately £3.0m will  arise
on  the  transaction  of  which £2.9m  relates  to  goodwill
previously written off to reserves.


For further information, contact:

Flying Flowers                               01534 865 553
Tim Dunningham

Grandfield                                   020 7417 4170
Clare Abbot
Nick Astaire


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