ESN Essentially Grp

    Trading Update
             



1 December 2008
Essentially Group Limited ("the Company" or "the Group")

Trading Update

Essentially Group Limited (AIM:ESN), a leading full service sports
marketing, management, media and professional services Group working
in the business of cricket, rugby union and Formula 1, provides the
following update on trading further to the announcement of its
interim results for the six months ended 30 June 2008 which were
released on 15 September 2008.

The Company anticipates that, due to the decline in the UK and World
economy, the current market estimates for earnings before interest
tax and amortisation ("EBITA") for 2008 will fall below market
expectations. Consequently the Group's earn-out liabilities are
expected to reduce.

In part this reflects a slippage of certain key contracts into 2009.
The Group's revenues remain underpinned by long term contracts
providing strong forward visibility. The Group's financial position
remains strong - its long term loan is being repaid on schedule over
the next 5 years and it currently has cash balances of approximately
�4m.

Sports Marketing Division
Since the interim results market conditions have significantly
worsened, and, as a result, the Group's Sports Marketing Division has
been adversely affected by the increased time it is taking to
negotiate rights sales together with increased pressure on the prices
being paid for these rights. There are a number of multi-year
contracts that were expected to close in 2008 which have now been
delayed to 2009, including the renewal of the Renault F1 road show in
Gauteng, South Africa.

Athlete Management Division
The Group's Athlete Management Division continues to trade strongly
and in line with Management's expectations.

Outlook
Estimates for the Sports Marketing division in 2009 shows good
visibility of future earnings including key contracts such as the
British and Irish Lions, Rugby World Cup (RWC) 7's, the Ashes and
cricket Test Match Grounds. Importantly, the Group has not lost any
clients and has gained new clients for 2009 and beyond. The Athlete
Management division continues to have good visibility. However, the
Group expects adverse conditions to continue and maintains a cautious
outlook for 2009.
Commenting on the trading update, John Byfield, Chairman of
Essentially Group Limited, said: "Having set achievable growth
targets it is disappointing that as a consequence of the economic
climate we do not expect to report headline operating profit in line
with current market expectations for the full year. The recent
decline in business confidence has impacted on the Group's business,
however, we are confident that the Group will continue to maximize
opportunities in the context of current uncertain market conditions".
For further information please contact:

Essentially Group Ltd
John Byfield
Tel: +44 (0) 20 7820 7000

Buchanan Communications
Bobby Morse
Ben Romney
Christian Goodbody
Tel: +44 (0) 207 466 5151

Cenkos Securities plc
Ivonne Cantu
Beth McKiernan
Tel: +44 (0) 20 7397 8927

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