RNS No 7472a
LONDON & EDINBURGH PUBLISHING PLC
30th June 1997

               LONDON & EDINBURGH PUBLISHING PLC
                        ("THE COMPANY")
                               

                     CHAIRMAN'S STATEMENT


It  gives me no pleasure to report pre-tax profits of  #56,000
for  the year ended 31st December 1996.  On admission  to  the
Alternative Investment Market, the directors forecast a profit
of  #400,000  compared to a loss before taxation  in  1995  of
approximately #52,000.  The turnover for the year  ended  31st
December,  1996  has  increased to  #1,073,957  compared  with
#355,444 for 1995 and shareholders funds have increased  to  a
positive  position  of #1,071,969 compared  to  a  deficit  of
#82,499.

The  shortfall in profit compared to the forecast for the year
was caused by the cancellation of projects and a high level of
bad   debts.   In  the  forecast  a  significant  profit   was
attributed to the Wedding Book to be created for Pronuptia and
Youngs.  Unfortunately, late in 1996 their parent company, The
Formal   Group   Plc,  placed  Pronuptia   and   Youngs   into
administration,  and significant costs incurred  were  written
off.  At that time it was hoped that other projects would make
up  the  shortfall.  A complementary publication titled Mother
and Child has been deferred until this year.

Bad debts amounted to #60,000 in the period which arose partly
as  a  result  of  a  number of clients  ceasing  trading.  In
addition,  the  Directors have been unable to recover  certain
debts which they had anticipated realising at the time of  the
trading statement in May 1997 and for which full provision has
now  been  made.  New  controls have now been  implemented  to
ensure that such problems do not recur.

1996  proved  to  be  a  frustrating year  for  your  company.
However,   there   have   been  a  number   of   achievements.
Foundations  have  been  developed for  international  growth,
advertising  revenues  have increased  and  the  Internet  has
become  an additional source of income.  We published a  total
of  eleven  different titles in 1996 compared  with  seven  in
1995.   We  have already established a great deal of  goodwill
and  new titles for 1997.  In December, we secured the  rights
to  publish the official souvenir magazine for the Dubai World
Cup  and  have started negotiations for other new projects  in
Dubai.   As a result we have become one of the world's leading
publishers  of  horseracing  souvenir  magazines.  Our   title
"Seventy Glorious Years" received international acclaim and we
have now  started to market "India: The First Fifty Years",  a
celebration of India's fiftieth anniversary of independence to
be  launched  and co-hosted by the Indian High  Commission  in
London.   The Derby 1996 magazine won the prestigious  British
Association  of Communications in Business award  to  External
Publications.

Because  of  the  timing of the publication  of  the  souvenir
magazines, the Company usually incurs losses in the first  six
months  of  the calendar year. We have added a publication  to
celebrate Pakistan's 50th Anniversary of Independence and also
we  have  been  asked  to  produce the  Philippine  Centennial
Publication for the Philippine Government.

However,  the costs of bringing future publications  to  print
has  meant that 1997 has got off to a poor start and the first
half of this year is expected to be disappointing.

In  addition,  I  shall be retiring as your  chairman  and  am
delighted  that  Adrian Collins, whose energy and  drive  will
augment the expertise of the other board members, will  be  my
successor as executive chairman.



M.Goletka
Chairman

GROUP PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31ST DECEMBER 1996

                                                  Pro-forma
                                                  Year ended
                                                  31st December
                                   1996           1995
                                   #              #


Turnover                      1,073,957           355,444
Cost of sales                 (629,883)         (247,340)


Gross Profit                    444,074           108,104
Administrative expenses       (391,566)         (157,286)


Operating profit/(loss)          52,508          (49,182)
Interest receivable               9,837             1,400

                                 62,345          (47,782)

Amounts written off
 investments                          -           (1,000)

Interest payable                (5,764)           (2,994)


Profit/(loss) on ordinary
  activities before taxation     56,581          (51,776)

Tax on profit/(loss) on
 ordinary activities            (5,000)               722

Profit/(loss) on ordinary
 activities after taxation      #51,581         #(51,054)


Earnings per share

     - Basic                          0.23p            (0.29p)
     

     - Fully diluted                  0.25p             -
     
     
NOTES:

1     The  comparative figures represent the 1995 figures  for
Tobasgo  Publishing Limited which has been  merger  accounted.
As  this is the first period since incorporation there are  no
comparatives for the parent company.
     
     The  acquisition of Tobasgo Publishing Limited,  and  its
     subsidiaries  has been treated as a merger in  accordance
     with  Financial Reporting Standard No.6 and the financial
     statements  have been prepared on a basis  which  assumes
     that  the  group  existed in its current form  since  the
     incorporation of Tobasgo Publishing Limited.

2    Earnings per share

     Basic earnings per share has been calculated on profit on
     ordinary  activities after taxation of #51,581 and  on  a
     weighted  average of 22,828,767 ordinary shares in  issue
     during the period.

     The fully diluted earnings per share is based on earnings
     of #58,686 and a weighted average of 23,365,967 shares in
     issue.  These figures assume that all options granted  at
     31st December 1996 had been exercised in full at the time
     of grant.

     Basic earnings per share for 1995 has been calculated  on
     a  loss  on ordinary activities of #51,054 and a weighted
     average of 18,000,000 ordinary shares in issue.

3    The Directors are not proposing the payment of a dividend
     in  respect  of the year ended 31st December, 1996.(1995:
     Nil.)

4    Report and Accounts

     The report and Accounts have been posted to shareholders.

     The  financial  information for the year  ended  31st  
     December,  1996,  is  extracted from the group's  financial  
     statements  to that date which received an unqualified  auditors'
     report and will be filed with the Registrar of  Companies.

5    Annual General Meeting

     The  annual  general meeting will be held  on  Wednesday,
     30th July, 1997. at 11.00 a.m.


Copies  of the Report and Accounts will be available from  the
offices  of John East & Partners Limited, Crystal Gate,  28-30
Worship  Street, London EC2A 2AH during normal business  hours
on  any weekday (Saturdays and public holidays excepted) until
14th July, 1997.

Enquiries:

John East & Partners Limited
Jeffrey Coburn                                   0171 628 2200
David Worlidge                                   0171 628 2200

London & Edinburgh Publishing PLC
Michael Goletka                                  0171 499 7469
Robert Gold                                      0171 554 3300


END