Trading Statement

RNS Number:4803F
Gaskell PLC
23 December 2002

Issued on behalf of Gaskell PLC
Date: Monday, 23 December 2002
                                                             Embargoed: 7.00am


                     Gaskell PLC ("Gaskell" or "the Group")

                                Trading Update


In the interim results released on 18 September 2002 Gaskell announced that it
had been negotiating its banking facilities on a short term basis and as at that
date Gaskell had borrowing facilities in place until 31 December 2002. The
Group's bankers have now indicated that the Group's current facilities will be
available until January 31 2003 and have further agreed to defer an #850,000
medium term loan repayment due on December 31 2002 until January 31 2003. The
agreement of facilities beyond January 2003 will be dependent upon progress with
negotiations relating to the disposals outlined below.

In order to reduce its high levels of borrowings and to tackle the significant
ongoing pension deficits, shareholders will be aware that Gaskell has been
undergoing a wide ranging restructuring exercise over the past year in order to
secure a future for the Group which is in the best interests of shareholders and
stakeholders alike. Since last updating shareholders in the interim results the
Group has been negotiating with a number of parties for the sale of further
assets and businesses. None of these disposals will be completed prior to the
end of the year but, in light of the Group's financial situation, Gaskell is
looking to conclude them as soon as possible.

Shareholders will be kept informed of developments as appropriate.


Enquiries:

Gerry Wheeler, Chief Executive
Richard Hopkin, Group Finance Director               Alan Cooke, Account Manager
Gaskell PLC                                          Citigate Dewe Rogerson
Tel: 01254 236222                                    Tel: 0121 455 8370



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