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UNITED OVERSEAS GROUP PLC 19 July 1999 UNITED OVERSEAS GROUP PLC NEW BOARD AND SENIOR MANAGEMENT POSITION Managing Director for principal UK operating company joins from Woolworths Plc & Trading Update United Overseas Group plc ('UOG' or the 'Company'), Europe's largest distributor of surplus branded consumer inventory world-wide, announces that Philip Green has joined the Board from Woolworths Plc. Mr Green will take up the position of Managing Director of United Overseas Limited, the Group's principal operating company in the UK, based in Peterborough, reporting directly to Jeffrey Curtiss, Chief Executive of UOG. Mr. Green, aged 45, has had an extensive career in a major retailing group, having worked at Woolworths Plc since 1975 in a number of senior positions, most recently as Trading Controller - toys and stationery. He was previously head of buying - toys and books, and his merchandise management experience also includes the confectionery, entertainment, groceries and wines and spirits sectors. The appointment further strengthens the UOG management team. Since Autumn 1998 the Group has appointed a head of group logistics, a group financial controller, a company secretary and legal adviser and a head of Operations and IT. The Group's results for the six months ended 30 June 1999 are expected to be published towards the end of August 1999. The Group has continued to experience difficult trading conditions in the first half of 1999, especially in the United Kingdom. Management is accelerating its programme to reduce overall stock holdings and is continuing its drive to improve efficiencies and operating ratios so that the Group's businesses are better positioned to benefit from any improvement in market conditions. Commenting on the appointment, Jeffrey Curtiss, UOG Chief Executive said: 'We are delighted that Philip is joining us. His extensive background of trading and merchandising within a major high street retailer, and specialist knowledge of the toy sector will be of great benefit to the United Overseas Group.' 'Philip has extensive experience of negotiating and buying, developing ranges, integrating pricing and promotional strategies, evaluation and development of supplier bases.' 'Whilst his primary responsibilities will involve the overall management of our operations in the UK, his appointment further strengthens the management team across the whole Group, and we expect to leverage his skills and know-how to play an active role in the development of our business internationally'. Enquiries: United Overseas Group plc Jeffrey Curtiss, Chief Executive Terry Balkham, Finance Director 01733 362 300 Editors' Note For the year ended 31 December 1998, toys accounted for 50 per cent. of UOG's total turnover of in excess of £100m, the remainder of sales being derived from toiletries and cosmetics (27 per cent.), household goods (12 per cent.), and sports and leisure wear (11 per cent.).