LDR Landround

    Trading Update
             



                    LANDROUND PLC ("Landround"):
           TRADING UPDATE AND REVIEW OF LONG TERM OPTIONS

Landround, the  reward  programmes  and  promotions  business,  today
provides an update on current trading and announces that the Board is
considering the Group's long term options.

Trading in most areas of the  group's business has been in line  with
recent expectations and  a loss  for the first  half of  the year  of
around �550,000 is  expected.  However, the  resolution of a  dispute
with a significant  buy &  fly! rewards programme  customer has  been
under discussion for some time.  It was believed until very  recently
that this  could be  resolved in  a positive  manner but  it has  now
reached a  stage  where  the  Board consider  that  there  is  little
likelihood that a significant contractual billing made in August will
be collected in any normal timeframe.

As a consequence, revenue and results for the second half of the year
are expected  to be  significantly affected.   A loss  rather than  a
profit is now expected in the second half of the year, albeit this is
anticipated to be significantly lower than the first half loss.  This
customer dispute  is  also likely  to  adversely affect  revenue  and
profitability in the first half of the next financial year.

The absence of the  cash inflow expected  from this disputed  billing
has put some pressure on the group's financing position and the Group
is in discussion with its bankers, HSBC regarding future facilities.

With these factors in mind,  the Board are considering the  company's
longer term options, including the  possibility of disposing of  some
or all of  the Group's businesses  and intends to  update the  market
further with respect  to these  matters at  the time  of the  planned
Interim results announcement, currently scheduled for November.




Enquiries:

David Owen, Chairman
Landround plc                                    Tel: 07976 723276

Simon Leathers
Daniel Stewart & Company plc       Tel: 020 7776 6550

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