As Shoprite reports a loss of ?88,000 before tax on its ordinary activities, the company is planning to move away from the Alternative Investment Marker and into the PLUS Market.

The interim results to July show a group turnover, including concession sales, of
?37.5 million, with an operating profit of just over ?400,000.

In his statement, Chairman Deryck Nicholson says the grocery market in the Isle of Man remains highly competitive and, in common with other retailers, the poor weather during the summer reduced demand for seasonal goods.

Against this backdrop, like-for-like sales have increased modestly compared to 2006.

The second half of 2007 will see changes to the store portfolio within the Isle
of Man, with the first stand-alone Shoprite Living store, which predominately
features non-food products, opening.

In other areas, Whitestone Garage, the motor retailing subsidiary, is said to have experienced: 'a difficult trading period in line with the motor trade industry generally, with sales below those levels experienced in 2006'. The statement goes on: 'Whilst increases in interest rates and the limiting allocation of new models are contributing factors to this position, we are confident that the long term prospects remain good'.

There is an offer to buy-back shares.

In April 2007 trading of the company's shares commenced on the PLUS Market, in addition to the primary listing on the Alternative Investment Market (AIM).

Since this time, approximately 40% of the trades in the company's shares have
been made via the PLUS Market. The directors also believe the PLUS quoted market is a more appropriate trading platform given the relative market capitalisation of Shoprite Group plc, and that of the AIM average.

With this background, attention is drawn to the enclosed Notice of Meeting at
which a Special Resolution is proposed to authorise the directors to seek the
cancellation of the listing of the company's ordinary shares from AIM, with
effect from December 20, 2007 and seek the admission of shares on the PLUS
quoted market, operated by Plus Markets plc, with effect from December 21, 2007.

The proposed Special Resolution requires a majority of not less than
three-quarters of such members as, being entitled so to do, vote in person or by
proxy at the meeting.