Exel maintains positive trading outlook for 2002

Exel, the provider in supply chain management, issued a brief trading update today, ahead of the commencement of the close period preceding the Group’s interim results announcement on July 29, 2002. (6/24/2002)

Exel will be hosting a conference call for all interested parties, details of which are appended to this announcement.

Exel has continued to make progress during the first five months of 2002 and reconfirms that the Group expects to meet full year market expectations for good profit growth in 2002. During the first five months of the year, Exel continued to secure new business across all its industry sectors. The rate of renewals has also remained strong and the Group continues to enjoy a healthy new business pipeline. As a result, medium term growth expectations remain positive.