MRD Meriden Grp

RNS Number:4134I
Meriden Group PLC
04 September 2006



                          Meriden Group Plc ("the Company")

                                 Trading Update

Further to demise of the Home Computer Initiative schemes ("HCI") and the
announcement on 16 June 2006 where the Directors explained that the two
Logistics division subsidiaries of Meriden Group Plc were to be placed into
administration, the Company has been in negotiations with the residual Logistics
creditors, who either have a guarantee from Meriden Group Plc, or whose
contracts where underwritten by Meriden Group Plc, to work out a mutually
acceptable compromise arrangement.

Whilst 90% of these residual Logistics creditors have agreed to be bound by this
proposed arrangement, one creditor, Seafrance SA ("Seafrance") has to date
rejected participating in the proposed arrangement, although negotiations are
still underway with their legal advisors.

The Directors are hopeful that these negotiations with Seafrance can be resolved
positively in order for all of the residual Logistics creditors to be bound
under the proposed compromise agreement. However, Seafrance has taken the step
of issuing a winding up petition against the Company.

Accordingly, should the negotiations with Seafrance prove to be unsuccessful
then it is likely that the Directors will be forced to make an application to
the court for the Company to be placed into administration and propose a formal
corporate voluntary arrangement amongst creditorsto enable the Company to
continue trading in the future.

Further announcements will be made in due course.

Enquiries:

Russell Stevens, Chief Executive      Tel: 07860 562621

Jonathan Wright, Seymour Pierce       Tel: 020 7107 8000


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

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