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25 March 2010

Trading Update

The Clapham House Group PLC ('Clapham House' or the 'Company'), owner of Gourmet Burger Kitchen ('GBK') and The Real Greek, today provides the following trading update in advance of the release of its preliminary results for the year ending 28 March 2010.

Trading

The Company expects to report preliminary results for the year ending 28 March 2010 in line with the Board's expectations.

GBK has delivered a robust performance in the period, particularly given the prevailing UK economic climate. During the financial year we opened two new GBK restaurants, at Bluewater in Kent and at Clink Street London SE1. This brings the total number of GBKs in the UK to 51, of which 29 are within Greater London.

Trading across the seven The Real Greek restaurants during the period has been satisfactory, with the restaurants at Westfield, Bankside and Covent Garden trading particularly well.

Expansion Programme

When we purchased GBK in November 2004, there were six restaurants, all trading in residential areas of London. Since then we have opened a further 45 throughout the UK in a variety of locations.

Returns on capital invested in both new and existing GBKs continue to be strong. We remain confident of a GBK roll-out plan to reach at least 150 restaurants across the UK.

Our overseas partners have opened five restaurants during the financial year and there are now 15 GBK restaurants operated under franchise outside of the UK and a further two are under construction.

In the coming financial year to March 2011 we will focus on the growth of GBK, both directly in the UK and under franchise internationally. In the UK we expect to open a minimum of two GBK restaurants in this period. However, we may increase this programme dependent on the availability of good sites and our view of the UK economic outlook.

Debt / Banking Facilities

Our total banking facilities are £21.7m, with the main facility running until June 2012. New openings during the current financial year have been funded out of organic cash flow, allowing the Company to continue reducing its net debt. We expect net debt at 28 March 2010 to be within expectations and we continue to trade comfortably within covenant limits.