GLN Glen Grp

RNS Number:3372Y
Glen Group PLC
13 February 2006


                                 Glen Group plc
                             ("Glen or the Group")

                                  AGM Statement

At the first Annual General Meeting of Glen Group plc, held today, Chairman Eric
Hagman CBE made the following comments on current trading:

"As we announced in January, the acquisition of Eclectic, which we expect will
be completed on Wednesday when the new ordinary shares, issued pursuant to the
placing and the acquisition, are admitted to trading on the AIM market of the
London Stock Exchange, marks a significant step in our ambitions to grow into a
powerful player in the added value information technology and communications
sector. Eclectic gives us a valuable foothold in the corporate market and in the
provision of specialised services to a blue chip client base.

The Group, as we have previously reported, is currently loss making as a result
of the continuing investment in the expanded sales force. As a value added
reseller, the number of sales people employed coupled with the success of each
sales person in delivering a meaningful contribution to the business has a
direct impact on profitability and we believe this remains critical to the
success of the business. Since the year end, trading has been in line with
expectations. Since its year end on 31 July 2005, Eclectic Group has been
trading profitably on an accumulated basis and trading is in line with
expectations

The combined Glen and Eclectic teams have strong operational, sales and
management experience, and we believe this will drive continued growth both
organically and if appropriate through further acquisitions.

The Company will issue an update on trading in March."

                                                                13 February 2006

Enquiries:

Glen Group plc
Graham J Duncan, Chief Executive                   Tel: 0845 119 2110

College Hill
Alex Walters                                       Tel: 0207 457 2020
Corinna Dorward

Notes to Editors

Glen Group plc, is an Edinburgh based value added reseller of integrated IT and
communication services. On 20 January 2006 it announced that it had agreed to
acquire Eclectic Holdings Limited ("Eclectic"), for an initial consideration in
cash and shares of #2,212,500. An additional consideration of up to #787,500 is
payable dependent on adjusted results of Eclectic for their year ended 31 July
2006. Financing of the deal has been arranged through a placing of 250,000,000
shares raising gross proceeds of #2,500,000.

Eclectic is a value added reseller of IT services operating in the corporate
market based in Glasgow and London. It provides consultancy, implementation and
training services to its customer base throughout the UK which includes a number
of blue chip clients



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            The company news service from the London Stock Exchange

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