RNS Number:2708P
Austin Reed Group PLC
02 September 2003


                                                                2 September 2003


                             AUSTIN REED GROUP PLC

                      LAUNCH OF AUSTIN REED FLAGSHIP STORE

Austin Reed Group PLC will tomorrow launch its new international brand flagship
store at 103 Regent Street, London W1.

The store has been totally restructured and modernised, creating a distinctive
global flagship for the Austin Reed brand.  New high speed glass lifts, a
spectacular central atrium, new customer service initiatives and new office
space have been created. Original features dating back to when the store was
originally opened in 1926 have been carefully restored to ensure the heritage of
the site is maintained for the future.

Overall, the square footage of net retail space has increased by 15% to 32,250
sq ft (2,996 m2). The turnover contribution from the store is also anticipated
to increase, through increased retail space, increased footfall, higher average
spend and improved customer circulation. In addition, new product ranges have
been created which are unique to the flagship store. The stunning new
redeveloped store will re-establish Austin Reed at 103 Regent Street as the
destination site for discerning customers.


13,000 sq ft (1,200 m2) of independent office accommodation has been created
above the store as part of the redevelopment scheme, and is designed to provide
additional rental income for the Group.


The Grade II listed Regent Street building dates back to October 1926 when it
was built for Austin Reed as London's first department store to be created
specifically for men. Austin Reed was originally established in 1900 by Mr
Austin Reed.


The #12.3 million store and office redevelopment scheme was completed on
schedule and in line with budgets.



Roger Jennings, Chief Executive of Austin Reed Group plc, said:



"The newly redeveloped Austin Reed international flagship store in Regent Street
strengthens Austin Reed's brand proposition and reflects our confidence in the
future prospects for growth for the Group in the UK, and internationally. The
store itself has been transformed, and provides a new and important focal point
for our customers and international licensees."



Enquiries:


AUSTIN REED GROUP PLC                                Tel: 020 7534 7703

Roger Jennings, Chief Executive
www.austinreed.co.uk

GAVIN ANDERSON & Co.                                 Tel: 020 7554 1400
Deborah Walter / Charlotte Stone



                           *** PHOTO'S AVAILABLE ***



Notes to Editors



*         The Regent Street store, London W1 now provides the following:


Lower Ground Floor:            *       Sporting Life, incorporating a wide range of sportswear,  9 hole
                               putting green
                               *       The Equilibrium Beauty Salon & Barbers Shop
                               *       Austin's Bar & Cafe
Ground Floor:                  *       Reed mens smart and smart casual wear
                               *       Austin Reed womenswear, including Eveningwear, Shoes & Accessories
First & Second Floors:         *       Austin Reed Signature mens suit collections - both Formal and
                               Relaxed, including suits designed by Charlie Allen
                               *       Personal Tailoring Service, for Bespoke suits and shirts
Third Floor:                   *       Formalwear Hire
                               *       Private Customer Lounge & Personal Shopping Service
Fourth to six floors:          *       Office space



*         Austin Reed Group PLC is a fashion retail group managing the two
exclusive lifestyle brands of Austin Reed and Country Casuals.



Austin Reed is a modern quality fashion brand offering men's and women's
formalwear and men's casualwear ('reed') and active sportswear ('sportreed').
It has 47 stores throughout the UK and 39 concessions within department stores.
The Austin Reed brand is also licensed worldwide, in the USA, Japan, Korea, the
Middle East, Thailand, Indonesia, Singapore and Italy.



Country Casuals is a modern classic brand for the 40+ active woman offering
exclusive collections of tailoring and occasionwear.  It has 64 stores and 141
concessions throughout the UK, and an additional 8 concessions in Canada
launched earlier this year.  Country Casuals Petite, launched in February 2001,
offers a separate range for women under 5'4".



*         Austin Reed Group is listed on the London Stock Exchange (ARD.L).




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