RNS Number:7372R
Signet Group PLC
06 November 2003

Embargoed until 12.00 Noon (GMT)                                 6 November 2003


              SIGNET LIKE FOR LIKE SALES UP 4.7% IN THIRD QUARTER

Signet Group plc (LSE: SIG and Nasdaq NMS: SIGY), the world's largest speciality
retail jeweller, today announced its sales performance for the 13 weeks and for
the 39 weeks to 1 November 2003.


13 WEEKS TO 1 NOVEMBER 2003

Total Group sales in the 13 weeks to 1 November 2003 were #289.4 million (13
weeks to 2 November 2002: #278.9 million), an increase of 7.1% at constant
exchange rates (see Note 1). At actual exchange rates there was an increase of
3.8%. Group like for like sales increased by 4.7%. The breakdown was as follows:

                      Sales                          Change on Previous Year
                     -------                       -------------------------
                #m           % of Total         Total              Like for Like
US             192.9            66.7             2.8% (a)             4.5%
UK              96.5            33.3             5.8%                 5.0% (b)
GROUP          289.4           100.0             3.8% (c)             4.7%

(a)   At constant exchange rates total US sales increased by 7.7%.
(b)   H.Samuel like for like sales were up by 2.2% and Ernest Jones up by 9.4%.
(c)   At constant exchange rates total Group sales increased by 7.1%.



39 WEEKS TO 1 NOVEMBER 2003

Total Group sales in the 39 weeks to 1 November 2003 were #956.8 million (39
weeks to 2 November 2002: #961.7 million), an increase of 5.5% at constant
exchange rates (see Note 1). At actual exchange rates there was a decrease of
0.5%, reflecting the weakening of the US dollar. Group like for like sales
increased by 3.3%. The breakdown was as follows:

                   Sales                             Change on Previous Year
                  -------                           -------------------------
                #m           % of Total         Total              Like for Like
US             667.8            69.8           -2.8% (d)              2.8%
UK             289.0            30.2            5.1%                  4.7% (e)
GROUP          956.8           100.0           -0.5% (f)              3.3%

(d)   At constant exchange rates total US sales increased by 5.7%.
(e)   H.Samuel like for like sales were up by 3.0% and Ernest Jones up by 7.1%.
(f)   At constant exchange rates total Group sales increased by 5.5%.


COMMENT

Terry Burman, Group Chief Executive, commented "In the US like for like sales
increased by 4.5% in the third quarter in a mixed economic environment.

In the UK the 5.0% increase in like for like sales again outperformed the UK
retail market.

Our businesses have performed well in the first nine months of the year.
Supported by a number of new and continuing initiatives, such as increased
advertising, we are well positioned to compete during the important fourth
quarter."

Enquiries:     Terry Burman, Group Chief Executive   )    +44 (0) 20 7399 9520
               Walker Boyd, Group Finance Director   )

               Mike Smith, Brunswick                 )    +44 (0) 20 7404 5959
               Tim Grey, Brunswick                   )

Signet operated 1,694 speciality retail jewellery stores at 1 November 2003;
these included 1,092 stores in the US, where the Group trades as "Kay Jewelers",
"Jared The Galleria Of Jewelry" and under a number of regional names. At that
date Signet operated 602 stores in the UK, where the Group trades as "H.Samuel",
"Ernest Jones" and "Leslie Davis". Further information on Signet is available at
www.signetgroupplc.com .


Note 1 - Impact of constant exchange rates

The Group has historically used constant exchange rates to compare
period-to-period changes in certain financial data. This is referred to as 'at
constant exchange rates' throughout this release. The Group considers this to be
a useful measure for analysing and explaining changes and trends in the Group's
results. The impact of the re-calculation of sales at constant exchange rates,
including a reconciliation to the Group's GAAP sales, is shown below.

13 weeks to 1      13 weeks to   13 weeks to   Growth at   Impact of   At constant     Growth at
November 2003       1 November    2 November      actual    exchange      exchange      constant
                          2003          2002    exchange        rate         rates      exchange
                   as reported   as reported       rates    movement    (non-GAAP)         rates
                                                                                      (non-GAAP)
------------------     -------       -------     -------     -------       -------       -------
                                                                                     
                            #m            #m           %          #m            #m          %
------------------     -------       -------     -------     -------       -------       -------
Sales by origin
and destination

UK, Channel               96.5          91.2         5.8           -          91.2           5.8
Islands &
Republic of 
Ireland                   

US                       192.9         187.7         2.8        (8.6)        179.1           7.7
------------------     -------       -------     -------     -------       -------       -------
                         289.4         278.9         3.8        (8.6)        270.3           7.1
------------------     -------       -------     -------     -------       -------       -------


                   39 weeks to   39 weeks to   Growth at   Impact of   At constant     Growth at
                    1 November    2 November      actual    exchange      exchange      constant
                          2003          2002    exchange        rate         rates      exchange
                   as reported   as reported       rates    movement    (non-GAAP)         rates
39 weeks to 1                                                                         (non-GAAP)
November 2003
------------------     -------       -------     -------     -------       -------       -------

                            #m            #m           %          #m            #m             %
------------------     -------       -------     -------     -------       -------       -------
Sales by origin
and destination

UK, Channel              289.0         274.9         5.1           -         274.9          5.1
Islands &
Republic of
Ireland                  

US                       667.8         686.8        -2.8       (55.1)        631.7          5.7
------------------     -------       -------     -------     -------       -------       -------
                         956.8         961.7        -0.5       (55.1)        906.6          5.5
------------------     -------       -------     -------     -------       -------       -------


The third quarter results for the period to 1 November 2003 will be announced at
12.00 Noon (GMT) on Tuesday 25 November 2003. On that day there will be a
conference call chaired by Terry Burman at 2.00 p.m. (GMT) (9.00 a.m. Eastern
Time and 6.00 a.m. Pacific Time) and a simultaneous webcast available at
www.signetgroupplc.com . The details for the conference call on the third
quarter results are:

UK dial-in:     +44 (0) 207 019 9504           Pass code:    688890
US dial-in:     +1 718 354 1152                Pass code:    688890


UK 48hr replay: +44 (0) 207 784 1024           Pass code:    688890#
US 48hr replay: +1 718 354 1112                Pass code:    688890#

This release includes statements which are forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. These
statements, based upon management's beliefs as well as on assumptions made by
and data currently available to management, appear in a number of places
throughout this release and include statements regarding, among other things,
our results of operation, financial condition, liquidity, prospects, growth,
strategies and the industry in which the Company operates. Our use of the words
"expects," "intends," "anticipates," "estimates," "may," "forecast,"
"objective," "plan" or "target," and other similar expressions are intended to
identify forward-looking statements. These forward-looking statements are not
guarantees of future performance and are subject to a number of risks and
uncertainties, including but not limited to general economic conditions, the
merchandising, pricing and inventory policies followed by the Group, the
reputation of the Group, the level of competition in the jewellery sector, the
price and availability of diamonds, gold and other precious metals, seasonality
of the Group's business and financial market risk.

For a discussion of these and other risks and uncertainties which could cause
actual results to differ materially, see the "Risk and Other Factors" section of
the Company's 2002/03 Annual Report on Form 20-F filed with the U.S. Securities
and Exchange Commission on April 24, 2003 and other filings made by the Company
with the Commission. Actual results may differ materially from those anticipated
in such forward-looking statements even if experience or future changes make it
clear that any projected results expressed or implied therein may not be
realised. The Company undertakes no obligation to update or revise any
forward-looking statements to reflect subsequent events or circumstances.


                      This information is provided by RNS
            The company news service from the London Stock Exchange

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