Top Ten Holdings PLC

24 September 2008

AGM statement

Sir Aubrey Brocklebank, Non-Executive Chairman of Top Ten Holdings PLC will make the following comments at the Group's Annual General Meeting to be held at 10.00 am today.

"Trading is in line with the Board's expectations. The recession is affecting the number of times our customers visit the clubs but the spend per head has recovered to that of last year. However turnover appears to have stabilised at a reduced level and the benefits of previous cost cutting are contributing to cash flow.

As a result of the "Conde Nast" case which overturned the Government's attempt to limit VAT claims to three years, we have made further claims for VAT refunds which now total some £12 million. The final outcome of this dispute may take several years.

Your board continues to seek opportunities to dispose of smaller units and will seek restructuring opportunities that benefit shareholders."

Enquiries:

Top Ten Holdings plc                                           01727 850793

Sir Aubrey Brocklebank, Chairman

Graham Kerr, Chief Executive

Greycoat Communications Limited                        0207 960 6007

Andrew Marshall

RNS news service provided by Hemscott Group Limited.