For immediate release
20 November 2003

Acquisition Takes International Greetings into Mainland Europe

International Greetings PLC ("IG"), the leading designer and manufacturer of private label greetings products and licensed stationery, today announced the acquisition of Hoomark Gift-Wrap Partners BV ("Hoomark").

Hoomark produces gift wrap for the European market from a production facility located in North East Holland. IG believes that the acquisition will enable it to gain a significant foothold in the continental European market through the ability to offer its other product categories to Hoomark customers.

IG has acquired the whole of the issued share capital of Hoomark for an initial consideration of ü1.5million. Further consideration of between ü600,000 and ü1million will be payable to the vendors of Hoomark dependent on Hoomark's results for the 15 month period to 31st March 2004. In addition, the Hoomark vendors may become entitled to further deferred consideration equivalent to 50% of the post tax profits of Hoomark for each of the three financial years up to and including the year ended 31st March 2007, subject to an overall maximum cap on such payments of ü15million.

Nick Fisher, Joint Chief Executive Officer commented, "We have been aware of the growth potential in Europe for a number of years, and we have now found the perfect acquisition which will allow us to develop in this important market. Its location in North East Holland is an excellent base for effective distribution throughout Europe."

"This is a significant development for International Greetings, and is consistent with our acquisition strategy."

International Greetings' results for the six months to 30th September 2003 will be announced on 8th December 2003.

ENDS

For further information, please contact: