Character Regulatory News (CCT)

1.

Name of the issuer

The Character Group Plc 

2.

State whether the notification relates to (i) a

transaction notified in accordance with DTR 3.1.2 R, 

(ii) a disclosure made in accordance LR 9.8.6R(1) or

(iii) a disclosure made in accordance with section 793 of the Companies Act (2006).

Transaction notified in accordance with DTR 3.1.2 R 

3.

Name of person discharging managerial

responsibilities/director

Jonathan Diver

4.

State whether notification relates to a person

connected with a person discharging managerial responsibilities/director named in 3 and identify the connected person

N/A 

5.

Indicate whether the notification is in respect of a holding of the person referred to in 3 or 4 above or in respect of a nonbeneficial

interest 1

The shareholder in 3 above

6.

Description of shares (including class), debentures or derivatives or financial instruments relating to shares

Ordinary Shares of 5p each 

7.

Name of registered shareholders(s) and, if more than one, the number of shares held by each of them

Jonathan Diver

8.

State the nature of the transaction

Grant of option 

9.

Number of shares, debentures or financial

instruments relating to shares acquired

N/A

10.

Percentage of issued class acquired (treasury shares of that class should not be taken into account when calculating percentage)

N/A

11.

Number of shares, debentures or financial

instruments relating to shares disposed

N/A

12.

Percentage of issued class disposed (treasury shares of that class should not be taken into account when calculating percentage)

N/A

13.

Price per share or value of transaction

N/A

14.

Date and place of transaction

N/A

15.

Total holding following notification and total percentage holding following notification (any treasury shares should not be taken into account when calculating percentage)

N/A

16.

Date issuer informed of transaction

N/A

17.

Date of grant

6 May 2009

18.

Period during which or date on which exercisable

6 May 2012 - 5 May 2019

19.

Total amount paid (if any) for grant of the option

Nil

20.

Description of shares or debentures involved (class and number)

300,000 ordinary shares of 5p each 

21.

Exercise price (if fixed at time of grant) or

indication that price is to be fixed at the time of exercise

35.5p

22.

Total number of shares or debentures over which options held following notification

715,000

23.

Any additional information

24.

Name of contact and telephone number for queries

The Character Group plc 

Kiran Shah 020 8329 3377

Charles Stanley Securities

Nominated Adviser 

Philip Davies / Carl Holmes 020 7149 6000

Name of authorised official of issuer responsible for making notification

Date of notification ____7 May 2009_______________________________________

(1)

An issuer making a notification in respect of a transaction relating to the shares or debentures of the issuer should complete boxes 1 to 16, 23 and 24.

(2)

An issuer making a notification in respect of a derivative relating the shares of the issuer should complete boxes 1 to 4, 6, 8, 13, 14, 16, 23 and 24.

(3)

An issuer making a notification in respect of options granted to a director/person discharging managerial responsibilities should complete boxes 1 to 3 and 17 to 24.

(4)

An issuer making a notification in respect of a financial instrument relating to the shares of the issuer (other than a debenture) should complete boxes 1 to 4, 6, 8, 9, 11, 13, 14, 16, 23 and 24.