RNS Number:7994R
Stagecoach Theatre Arts PLC 
21 February 2002


                  Stagecoach Theatre Arts plc ("the Company")


                               Interim Statement

Background


Stagecoach Theatre Arts operates the UK's largest network of part-time
performing arts schools for young people aged between 4 to 16.

Introduction

We are delighted to welcome on board our new institutional and private
shareholders following a successful placing and offer of the Company's shares to
the Alternative Investment Market on 14th December 2001.


The purpose of this statement is to provide, in fulfilment of our obligations
under the AiM rules, an update on the current trading and prospects of the
business since the latest annual audited accounts as at 31st May 2001 of
Stagecoach Theatre Arts plc, formerly Stagecoach Theatre Arts (Regional Schools)
Limited.


Due to the acquisition of a number of entities by Stagecoach Theatre Arts
(Regional Schools) Limited on flotation, its stand alone interim financial
statements for the six months ended 30 November 2001 would give a misleading
representation of the financial performance of the enlarged group for that
period. Consequently set out below is an operational review of both the interim
and current periods covering all areas of business now encompassed within
Stagecoach Theatre Arts plc.


Operational review

The principal indicator of the Company's growth is the number of franchised
schools opened during the year. Our franchisees open new schools only at the
beginning of the Summer Term in April and the Autumn Term in September, thus the
number of schools and students attending the network of Stagecoach schools
remains as reported at flotation. That is 355 Stagecoach schools and over 16,000
students together with a further 303 Early Stages classes with 4,000 students.
School fees and management fees in January 2002 have remained the same as for
the Autumn Term 2001.


Following flotation the Company is now sufficiently capitalised to fulfil its
current strategic objectives for growth of the business. The Company raised £2.5
million, before expenses, at flotation, and a further £0.8 million for founder
shareholders. Immediately upon flotation, following the acquisition of the
trade, assets and intellectual property of the two connected businesses,
Stagecoach Performing Arts Limited and Manuel and Sprigg Trading as Stagecoach,
both of which had net liabilities, and the acquisition of the 50 per cent of the
SportsCoach business not already owned by Manuel and Sprigg Trading as
Stagecoach, the Company had cash balances of £1.3 million and net assets of £1.8
million.


The Board are pleased to report that strategic plans are underway and progress
is being made in achieving our objectives as set out at the time of flotation:


  • We are seeing an increasing number of potential franchisees for new
    schools to be opened in the UK in April 2002 and September 2002.

  • We have implemented a territory buy back programme, and have already
    re-purchased three under utilised part-territories so far, of which we have
    re-sold two. These franchisees, together with other new franchisees, will
    open new schools in the Summer Term starting in April 2002.

  • We have secured premises for a third SportsCoach school and strengthened
    the SportsCoach operational staff.

  • We have commenced plans to further expand our operations in the United
    States.


With regards further enhancing the brand and profile of Stagecoach Theatre Arts,
we are delighted to announce that 1,600 Stagecoach students from across the UK
will sing and perform at a charity gala at the Royal Albert Hall on 10th March
2002.


The current financial year-end date is 31st May 2002, and the preliminary
announcement of results is intended to be released in early August 2002. The
Annual General Meeting of the Company is expected to be held in September 2002,
at which we look forward to welcoming in person as many of our shareholders as
possible.


Graham Cole

Chairman






For further information, please contact:


Richard Dawson, Stagecoach Theatre Arts plc           01923 256 244


Henry Turcan, Beeson Gregory                    020 7488 4040







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