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Monday 04 April, 2005

Games Workshop Group

Trading Statement

Games Workshop Group PLC
04 April 2005

                               
                                TRADING STATEMENT

In the interim results released by Games Workshop Group PLC ('Games Workshop' or
the 'Company') on 25 January 2005, we reported a slowdown in UK sales growth;
this was against a background of a period of very strong growth in this market,
which we had described in our 2003 and 2004 Annual Report & Accounts as a
'bubble effect, which may not be sustainable in the future'.

Trading in the period since our interim announcement has continued to be
difficult. This slowdown in sales has been most significant in the UK and in
Continental Europe. In particular sales in the Company's March 2005 trading
period, a five week period which included the Easter holiday, were well below
budget.

As a result, the Company is unlikely to achieve market estimates of sales for
the current year ending 29 May 2005. These currently range between approximately
£151 million and £162 million compared with sales in the 2004 year of £151.8m.
After analysing trading in March, we expect group sales in the 2005 financial
year to fall below this range, although we do expect sales to exceed comfortably
the 2003 sales figure of £129 million.

Besides working hard to improve on this sluggish sales experience, Games
Workshop continues to focus on maximising operational efficiencies so as to
maintain the higher gross margins reported at the interim stage. In spite of
this, the sales shortfall described above is likely to impact materially on the
Company's profits and earnings per share in the current year.

Games Workshop remains a highly profitable and cash generative business. It is
currently the intention of the Board to recommend a maintained final dividend
for the 2005 year at the 2004 level of 14.025 pence per share. Despite this
short-term disappointment the Directors continue to view the long-term prospects
for the Company with great confidence.

                                   

Games Workshop Group PLC                       Today only:       01756 770 376
Tom Kirby, Chairman and Chief Executive        Thereafter:       0115 900 4003
Michael Sherwin, Finance Director

Rawlings Financial PR Limited                         Tel:       01756 770 376
John Rawlings
Catriona Valentine




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