Trading Update.

(From Hugin)

1 December 2008 Essentially Group Limited ("the Company" or "the Group") Trading Update Essentially Group Limited (AIM:ESN), a leading full service sports marketing, management, media and professional services Group working in the business of cricket, rugby union and Formula 1, provides the following update on trading further to the announcement of its interim results for the six months ended 30 June 2008 which were released on 15 September 2008. The Company anticipates that, due to the decline in the UK and World economy, the current market estimates for earnings before interest tax and amortisation ("EBITA") for 2008 will fall below market expectations. Consequently the Group's earn-out liabilities are expected to reduce. In part this reflects a slippage of certain key contracts into 2009. The Group's revenues remain underpinned by long term contracts providing strong forward visibility. The Group's financial position remains strong - its long term loan is being repaid on schedule over the next 5 years and it currently has cash balances of approximately GBP4m. Sports Marketing Division Since the interim results market conditions have significantly worsened, and, as a result, the Group's Sports Marketing Division has been adversely affected by the increased time it is taking to negotiate rights sales together with increased pressure on the prices being paid for these rights. There are a number of multi-year contracts that were expected to close in 2008 which have now been delayed to 2009, including the renewal of the Renault F1 road show in ...