AGM Statement

5 February 2010

Carluccio's PLC

AGM Trading Update

Carluccio's PLC (the "Company"), the leading UK based group of authentic Italian restaurants with integrated food shops, announces an update on trading prior to its AGM which will be held later today.

The Company is pleased to announce that for the 17 weeks to 24 January 2010 turnover growth was 8% over prior year, continuing slightly ahead of the Board's expectations despite some disruption to footfall and trading during January as a result of the adverse weather conditions. This turnover growth was achieved without significant discounting. Christmas trading was strong across both the caffe and retail parts of the business with customers responding very well to the whole retail range, available in-store and via our newly designed web site (www.carluccios.com).

Exeter, the Company's first new opening of the financial year, has traded well, exceeding the Board's expectations. It is to be followed by Wimbledon (February 2010) and Cardiff (March 2010) by which time the Company will trade from 45 locations in the UK. The site pipeline to meet the five store minimum opening programme for 2010 is secure.

Good progress is being made by Landmark, our Middle Eastern franchisee, with two further sites in Dubai scheduled to open in the spring. The first store in Dubai is currently trading substantially ahead of expectation. The Irish franchise store achieves turnover levels that would position it in the top ten of the UK estate. As recently reported in the press, our Irish franchisee has closed its restaurant in Dublin with effect from 2 February 2010 pending the outcome of a rent renegotiation. Closure will not have a material impact on the Company's financial performance.

The refurbishment of two further locations, in addition to the three already completed, was finished in January. Customers have responded extremely positively to the new design and we plan to continue a programme of selected refurbishments.

The Company's strong cash generation means the opening programme can be achieved without resort to borrowing. This remains a key strength of the business and provides the flexibility to respond rapidly to an easing in the market for new sites.

The Board expects overall trading conditions to remain challenging during the current year. However, the Board firmly believes that the Company's all-day trading model, its unique restaurant and integrated retail offering and low restaurant average spend of £12.50 per head, means it is well equipped to meet these challenges.

-ENDS-

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