INTERIM RESULTS for the 26 weeks ended 28 June 2003

2 Interim Results - June 2003 INTRODUCTION Introduction Stuart Graham, CEO

3 Financial Review Mike Sutton, CFO Interim Results – June 2003

4 Interim Results - June 2003 TURNOVER AND ADJUSTED OPERATING PROFIT Text from Chairman’s Statement “results in line with expectations” * Excludes goodwill amortisation

5 Interim Results – June 2003 PROFIT AND LOSS ACCOUNT * Excludes goodwill amortisation ** Excludes goodwill amortisation and exceptional items

6 Interim Results – June 2003 EARNINGS PER SHARE (ADJUSTED) * Excludes goodwill amortisation and exceptional items **Excludes tax credit relating to earlier years (2003) Calculation excludes tax credit relating to previous years.

7 Interim Results – June 2003 SUMMARY BALANCE SHEET

8 Interim Results – June 2003 CASHFLOW * excludes goodwill amortisation

9 Interim Results – June 2003 NET BORROWINGS / INTEREST COVER * Operating profit excluding goodwill amortisation Subsequent to period end disposal proceeds of over £27m received

10 Interim Results – June 2003 DISPOSALS  Disposals in August 2003 –Cash proceeds in August 2003 –CCG £14.7m with adjustment of up to £1.2m for pension liabilities –JWS £13.7m less a retention of £0.5m –CCG goodwill impairment £10.5m in H1 –JWS profit on disposal £4m + to be recognised in H2 Text from Chairman’s statement “The proceeds have been used to reduce borrowings and are available to further the development of the Group’s activities”

11 Interim Results – June 2003 TEXTILE RENTAL - UNITED KINGDOM * Excludes goodwill amortisation

12 Interim Results – June 2003 TEXTILE RENTAL – JOHNSONS APPARELMASTER * Equivalent annual rate Text from Chairman’s statement “cumulative effects of poor sales and customer retention over last three years have continued to impact on turnover”

13 Interim Results – June 2003 DRYCLEANING * Excludes goodwill amortisation

14 Review, Strategy and Outlook Stuart Graham, CEO Interim Results – June 2003

15 Interim Results - June 2003 OVERVIEW  Transitional period for the Group  Group delivered on objectives to date  Management team significantly strengthened  Work in progress Text from Chairman’s statement “The first six months have been a period of significant change for the Group….”

16 Interim Results – June 2003 TEXTILE RENTAL - UNITED KINGDOM  Johnsons Apparelmaster –Shrinkage in traditional workwear market ongoing –Masterplan initiative progressing well –Sales team strengthened further –Separate customer service function –Plant closed in North East Text from Chairman’s statement “The cumulative effect of poor sales and customer retention over the last three years….”

17 Interim Results – June 2003 TEXTILE RENTAL - UNITED KINGDOM Text from Chairman’s Statement “achieved further progress……”  Stalbridge Linen Services –Further progress achieved –Opportunities to offer added services –Plant locations to be reviewed –Maintained our market share

18 Interim Results – June 2003 TEXTILE RENTAL - UNITED KINGDOM Text from Chairman’s Statement “We see considerable opportunities for growth…”  CCM – Increase in sales –Arco contract volumes as expected –Initial start up costs have restricted profit in first half –New markets and products being identified

19 Interim Results – June 2003 DRYCLEANING Text from Chairman’s Statement “appointment as the Master Licensor for GreenEarth®”  Johnsons Cleaners –Results encouraging –GreenEarth® exciting first-to-market opportunity Roll out over 2 years –Logistics –CPU –New operating model

20 Interim Results – June 2003 DRYCLEANING Text from Chairman’s Statement “acquisition increases our penetration in the South East….”  Jeeves of Belgravia –Acquired in May 2003 –Established luxury brand in London –12 shops and CPU in London –“London’s Finest Drycleaner” –Growth potential

21 Interim Results – June 2003 OUTLOOK Text from Chairman’s statement “Broadening the base of our activities in terms of both the services we offer and their geographical location.…  Transitional period for the Group  Significant progress made to date  Strategy for growth  Strong balance sheet  Confident about the prospects for the Group