Character Regulatory News (CCT)

22 February 2013

The Character Group plc

("the Company")

Exercise of Options by a Director

and Dealings by Directors

The Company announces that it has today received from Richard King, Executive Chairman, notice of exercise in respect of an option granted to him under the Company's 2006 Scheme, in respect of a total of 47,000 ordinary shares of 5p each in the Company ("Ordinary Shares") at the exercise price of 63 pence per share.

These Ordinary Shares (the "Option Shares") have been allotted by the Company and rank pari passu with the Company's existing issued Ordinary Shares. The Option Shares were admitted to trading today on the AIM Market of the London Stock Exchange plc pursuant to an existing block listing.

The Company has also been informed of the following share dealings in the Company's Ordinary Shares by certain of the directors of the Company, which also took place earlier today:

- Richard King has sold 47,000 Ordinary Shares in the market at a price of 134.0 pence per share and 47,000 Ordinary Shares were acquired through the market at a price of 134.1 pence per share by the TOPS Pension Scheme, of which Mr. King and certain of his family members are the sole beneficiaries.

- Kiran Shah, the Group Finance Director and Joint Managing Director of the Company, sold 47,000 Ordinary Share in the market at a price of 134.0 pence per share and 47,000 Ordinary Shares were acquired through the market at a price of 134.0 pence per share by Mr Shah's personal pension scheme.

Following the exercise of share options and the share dealings set out above, the interests of the Directors in the issued share capital of the Company are as follows:

Notes:

1. included in the interests of R. King are his interests in 1,635,428 Ordinary Shares held by Cedarberg Investments Limited and 818,750 Ordinary Shares held by the TOPS Pension Scheme;

2. included in the interests of K.P. Shah are the interests of Sarissa Holdings Limited in 4,830,000 Ordinary Shares and 665,250 Ordinary Shares of Mr Shah's personal pension scheme;

3. included in the interests of J.J. Diver are 401,867 Ordinary Shares held by Mr Diver's personal pension scheme;

4. Orbis Pension Trustees Limited is the trustee of the Company's Employee Share Ownership Trust. Each of R. King, K.P. Shah, J.J.P. Kissane, J.J. Diver and M.S.Hyde is deemed to be interested in such Ordinary Shares by virtue of being within the class of beneficiaries defined by such trust.