Character Regulatory News (CCT)

7 Nov 2007 16:32

Character Group PLC07 November 2007 Issued on behalf of The Character Group plcDate: Wednesday, 7 November 2007 The Character Group plc Statement in relation to Bindeez products The Directors of the Character Group plc ("Character Group" or "Group") havenoted the recent press and media comments regarding Bindeez products. Through its subsidiary Character Options, the Group acts as the distributor ofthis range in the UK on behalf of Moose Enterprise Pty Ltd, an Australiandesigner and developer of toys in general and, in particular, Bindeez brandedproducts. The Group is not a distributor of these products anywhere other thanin the UK and Eire. Character Group believes that its stock of Bindeez products conforms to UKsafety regulations. However, the Group has, as a precautionary safety measure,instructed an independent test laboratory and a EU toxicologist to immediatelytest and analyse the chemical composition of representative samples of theGroup's Bindeez stocks in order to fully satisfy as to their safety. The Grouphas also taken the decision to be prudent and recommend to all its customersthat all Bindeez products supplied by the Group should be removed from salewhilst these tests are undertaken. Should we receive adverse test results, weshall immediately take such steps as are necessary to address the position. Character Group expects to issue an update statement as soon as the testing iscompleted. The Group takes all reasonable measures to ensure that all its products are safeand that children's safety is the priority. To that end, Character hascontinually, over a number of years, initiated and further developed a stringentquality control regime, which is regularly reviewed and updated. The financial impact of the above is expected to have a negligible impact on theGroup's results for the current financial year ending 31 August 2008. Enquiries:Richard King, Chairman Fiona Tooley, DirectorKiran Shah, Group Finance Director & Joint MD Keith Gabriel, Senior Account ManagerThe Character Group plc Citigate Dewe RogersonTel: +44 (0) 20 8949 5898 Tel: +44 (0) 121 455 8370Mobile: +44 (0) 7836 250150 (RK) Mobile: +44 (0) 7785 703523 (FMT)Mobile: +44 (0) 7956 278522 (KS)www.thecharacter.comwww.character-online.co.uk Richard ThompsonPhilip DaviesCharles Stanley SecuritiesNominated AdvisorTel: +44 (0) 20 7149 6000 This information is provided by RNS The company news service from the London Stock Exchange