(AGA.L) AGA Rangemaster Group PLC Buy/Sell

Chase Nominees Limited 53,076
Vidacos Nominees Limited 21,111
R C Greig Nominees Limited 1,690

5. Date of the transaction and date on which the

threshold is crossed or reached:

12 NOVEMBER 2009

6. Date on which issuer notified:

16 NOVEMBER 2009

7. Threshold(s) that is/are crossed or reached:

>5% to <5% Change at Combined Interest Level

8. Notified details:

A: VOTING RIGHTS ATTACHED TO SHARES ___________________________________

Class/type of shares if possible using ISIN CODE: -------------------------------------------------

AGA RANGEMASTER GROUP PLC ORDINARY SHARES OF 46 7/8 PENCE EACH

GB00B2QMX606

Situation previous to the Triggering Transaction: -------------------------------------------------
Number of shares: 4,967,269
Number of voting rights: 4,967,269

Resulting situation after the Triggering Transaction: -----------------------------------------------------
Number of shares - Direct 390,493
Number of voting rights - Direct: 314,616
Number of voting rights - Indirect: 75,877
% of voting rights - Direct: 0.45%
% of voting rights - Indirect: 0.11%

B: QUALIFYING FINANCIAL INSTRUMENTS ___________________________________

Resulting situation after the triggering transaction: ----------------------------------------------------------------------------
Type of Expiration Exercise/ Number of voting % of voting
financial date Conversion rights that may be rights
instrument Period acquired if the
instrument is
exercised/converted

C: FINANCIAL INSTRUMENTS WITH SIMILAR ECONOMIC EFFECT TO QUALIFYING FINANCIAL INSTRUMENTS _______________________________________________________________________________

Resulting situation after the triggering transaction: ----------------------------------------------------------------------------
Type of Exercise Expiration Exercise/ Number of % of voting
financial price date Conversion voting rights rights
instrument period instrument
refers to Nominal Delta

TOTAL (A+B+C) _____________

Number of voting rights 390,493
% of voting rights 0.56%

9. Chain of controlled undertakings through which the voting rights and/or the

financial instruments are effectively held, if applicable: The voting rights are managed and controlled by Aviva Investors Global Services Limited, with the following chain of controlled undertakings:-

Aviva Investors Global Services Limited:

The investments are administered by Commercial Union Trustees Limited, with the following chain of control:

Commercial Union Trustees Limited:

PROXY VOTING: _____________

10. Name of the proxy holder: See Section 4

11. Number of voting rights proxy holder will cease to hold:

12. Date on which proxy holder will cease to hold voting rights:

13. Additional information: Figures are based on the total number of voting rights of 69,236,074.

14. Contact name:

P M SISSONS

15. Contact telephone number:

01926 455755

END

needs

clear presence in our larger dealers

Rangemaster and Fired Earth

The £0.4 million acquisition of the distinctive, modern styled Mercury and Thermastone brands is part of our growth plan. These brands generated revenue of over £1.8 million in 2008 and from 2010 will be made in our UK factories.

Our Customer Relationship Management is now run from the Group Head Office and is already having an appreciable impact on our ability to generate repeat business.

We are developing partnerships namely with the National Trust for Fired Earth; with an energy supplier for our cast iron appliances; and with leading designers to celebrate the Great British Cookers represented by AGA, Rangemaster, Rayburn and Falcon.

Risks and uncertainties

There are a number of risks and uncertainties which could have a material impact on the Group's performance over the remaining six months of the financial year and could cause actual results to differ from expected and historical results. The directors do not consider that the principal risks and uncertainties have changed since the publication of the annual report and accounts for the year ended 31st December 2008. A detailed explanation of the risks and uncertainties can be found on pages 16 to 18 of the annual report.

Current trading and outlook

We are now heading into the key sales period of the year when markets fell away sharply in 2008. Having seen sales stabilise at around 20% down since the Spring, we hope at least to match the order intake of Autumn 2008. With the strong product and marketing line ups for this Autumn combining with the increased impact of the cost saving measures taken, we are as well placed as we can be given current market conditions. Overall, we approach the second half with some renewed optimism.

By order of the board:

J Coleman W B McGrath
Chairman Chief Executive

28th August 2009

Cautionary statement

This Interim Management Report ("IMR") has been prepared solely to provide additional information to shareholders to enable them to assess the Group's strategies and the potential for those strategies to succeed. The IMR should not be relied on by any other party or for any other purpose.

This IMR contains certain forward-looking statements. These are made by the directors in good faith based on the information available to them up to the time of their approval of this report but such statements should be treated with caution due to the inherent uncertainties, including both economic and business risk factors, underlying any such forward-looking information.

The Group undertakes no obligation to update any forward-looking statements whether as a result of new information, future events or otherwise.

The IMR has been prepared for the Group as a whole and therefore gives greater emphasis to those matters which are significant to AGA Rangemaster Group plc and its subsidiary undertakings when viewed as a whole.

Half year Half year Half year
to June to June December

Unaudited Unaudited Audited
______________________________________
Note £m £m £m

Revenue 117.8 145.1 279.4
Net operating costs (119.5) (136.1) (268.3)

________________________________________________________________________________________
Group operating (loss) / profit (1.7) 9.0 11.1
Net pension credit 10 0.8 2.5 5.4
Non-recurring cost 5 (1.3) (2.6) (5.3)

________________________________________________________________________________________ (Loss) / profit before net finance costs and
income tax (2.2) 8.9 11.2
Finance income 0.2 3.8 4.8
Finance costs (0.4) (0.4) (1.6)
________________________________________________________________________________________ (Loss) / profit before income tax (2.4) 12.3 14.4
Income tax expense 6 - (2.5) (2.7)

________________________________________________________________________________________
(Loss) / profit for the period (2.4) 9.8 11.7

________________________________________________________________________________________ (Loss) / profit attributable to:
Equity holders of the parent (1.6) 9.8 12.4
Minority interests (0.8) - (0.7)

________________________________________________________________________________________
(Loss) / profit for the period (2.4) 9.8 11.7

________________________________________________________________________________________

(Loss) / earnings per share attributable
to equity holders of the parent 7 p p p
Basic (2.3) 9.5 14.4
Diluted (2.3) 9.5 14.4

________________________________________________________________________________________
p p p
Dividend per share - proposed or paid 8 - 4.0 4.0
Return of cash - paid 8 - 121.0 121.0

________________________________________________________________________________________

All the above results relate to continuing operations.

Half year Half year Year to
to June to June December

Unaudited Unaudited Audited
_____________________________________
£m £m £m

(Loss) / profit for the period (2.4) 9.8 11.7

_________________________________________________________________________________________
Exchange adjustments on hedge of net investments 2.1 (0.4) (3.2)

Exchange differences on translation of foreign
operations (11.6) 3.4 23.0
Actuarial losses on defined benefit pension schemes (72.7) (50.9) (28.7)
Deferred tax on actuarial losses 20.4 14.2 7.9

________________________________________________________________________________________
Other comprehensive losses for the period (61.8) (33.7) (1.0)

________________________________________________________________________________________
Total comprehensive (losses) / income for the period (64.2) (23.9) 10.7

________________________________________________________________________________________ Attributable to:
Equity holders of the parent (63.5) (23.9) 11.0
Minority interests (0.7) - (0.3)

_________________________________________________________________________________________
Total comprehensive (losses) / income for the period (64.2) (23.9) 10.7

_________________________________________________________________________________________

Half year Half year Year to
to June to June December

Unaudited Unaudited Audited
__________________________________________
Note £m £m £m

Non-current assets
Goodwill 65.8 61.4 70.9
Intangible assets 22.2 19.0 24.0
Property, plant and equipment 9 54.3 51.0 58.7
Retirement benefit surplus 10 - 32.1 58.7
Deferred tax assets 5.5 3.0 5.5

_________________________________________________________________________________________
147.8 166.5 217.8

_________________________________________________________________________________________ Current assets
Inventories 54.8 58.9 63.5
Trade and other receivables 33.7 39.9 39.9
Current tax assets 2.1 1.5 2.1
Cash and cash equivalents 11 38.5 36.0 42.9

_________________________________________________________________________________________
129.1 136.3 148.4

_________________________________________________________________________________________
Assets held for sale 1.7 - 1.9

_________________________________________________________________________________________
Total assets 278.6 302.8 368.1

_________________________________________________________________________________________ Current liabilities
Borrowings 11 (5.7) (5.6) (9.7)
Trade and other payables (54.4) (57.8) (66.8)
Current tax liabilities (9.1) (11.3) (11.6)
Current provisions 12 (2.1) (3.6) (4.3)

_________________________________________________________________________________________
(71.3) (78.3) (92.4)

_________________________________________________________________________________________
Net current assets 57.8 58.0 56.0

_________________________________________________________________________________________ Non-current liabilities
Borrowings 11 (30.5) (13.5) (27.4)
Retirement benefit obligation 10 (13.8) (0.8) (1.2)
Deferred tax liabilities (1.5) (15.7) (21.9)
Provisions 12 (9.1) (9.2) (8.7)

_________________________________________________________________________________________
(54.9) (39.2) (59.2)

_________________________________________________________________________________________
Total liabilities (126.2) (117.5) (151.6)

_________________________________________________________________________________________
Net assets 152.4 185.3 216.5

_________________________________________________________________________________________

Equity
Share capital 13 32.5 32.4 32.5
Share premium account 29.6 30.0 29.6
Other reserves 85.9 79.0 95.5
Retained earnings 3.3 41.8 57.1

_________________________________________________________________________________________
Equity attributable to equity holders of the parent 151.3 183.2 214.7
Minority interest 1.1 2.1 1.8

_________________________________________________________________________________________
Total equity 152.4 185.3 216.5

_________________________________________________________________________________________

Half year Half year Year to
to June to June December

Unaudited Unaudited Audited
_____________________________________
£m £m £m
Note

Cash flows from operating activities (Loss) / profit before net finance costs and
income tax (2.2) 8.9 11.2

Reconciliation of (loss) / profit before finance costs and income tax to net cash flows:
Depreciation of property, plant and equipment 9 3.4 3.8 6.8
Amortisation of intangible assets 0.8 0.7 1.3
Loss on disposal of property, plant and equipment - - 0.3
Share based payments expense 0.1 0.3 -
Decrease / (increase) in inventories 5.6 (3.3) (3.6)
Decrease in receivables 3.2 0.4 5.4
Decrease in payables (6.1) (9.0) (10.7)
(Decrease) / increase in provisions (1.5) 1.2 0.5
Increase in pensions balances (1.3) (3.1) (6.7)

________________________________________________________________________________________
Cash generated from / (used in) operating activities 2.0 (0.1) 4.5
Interest paid (0.4) (0.3) (1.6)
Tax payment (2.5) (0.2) (2.7)

________________________________________________________________________________________ Net cash (used in) / generated from operating
activities (0.9) (0.6) 0.2

________________________________________________________________________________________ Cash flows from investing activities
Interest received 0.2 3.8 5.0
Disposal proceeds from sale of subsidiaries less costs 0.3 (3.2) (2.4)
Purchase of property, plant and equipment 9 (4.3) (2.6) (10.2)
Expenditure on intangibles (1.2) (0.9) (3.3)
Proceeds from disposal of property, plant and equipment - - 0.5

________________________________________________________________________________________
Net cash used in investing activities (5.0) (2.9) (10.4)

________________________________________________________________________________________ Cash flows from financing activities Return of cash and dividends paid to
shareholders 8 - (148.4) (151.2)

Net proceeds from issue of ordinary share
capital and cost of share consolidation - 0.2 (0.1)
(Decrease) / increase in borrowings (3.3) 1.3 (1.5)
New bank loans raised 5.3 5.0 22.7

________________________________________________________________________________________
Net cash generated from / (used in) financing activities 2.0 (141.9) (130.1)

________________________________________________________________________________________
Effects of exchange rate changes (0.5) (0.1) 1.7

________________________________________________________________________________________
Net (decrease) / increase in cash and cash equivalents (4.4) (145.5) (138.6)
Cash and cash equivalents at beginning of period 42.9 181.5 181.5

________________________________________________________________________________________
Cash and cash equivalents at end of period 10 38.5 36.0 42.9

________________________________________________________________________________________

Equity attributable to equity holders of the parent

Share Share Other Retained Minority Total
capital premium reserves earnings Total interests equity
£m £m £m £m £m £m £m

At 1st January 2009 32.5 29.6 95.5 57.1 214.7 1.8 216.5

Total comprehensive losses for the period ended 30th
June 2009 - - (9.6) (53.9)(63.5) (0.7) (64.2)
Share based payments - - - 0.1 0.1 - 0.1

____________________________________________________________________________________________
At 30th June 2009 32.5 29.6 85.9 3.3 151.3 1.1 152.4

____________________________________________________________________________________________

Equity attributable to equity holders of the parent

Share Share Other Retained Minority Total
capital premium reserves earnings Total interests equity
£m £m £m £m £m £m £m

At 1st January 2008 32.4 68.8 37.1 216.7 355.0 2.1 357.1

Total comprehensive income / (losses) for the period
ended 30th June 2008 - - 3.0 (26.9) (23.9) - (23.9)
Dividends and cash return - - - (148.4) (148.4) - (148.4)
Shares issued - 0.2 - - 0.2 - 0.2
Share based payments - - - 0.3 0.3 - 0.3
Transfer between reserves - (39.0) 38.9 0.1 - - -

____________________________________________________________________________________________
At 30th June 2008 32.4 30.0 79.0 41.8 183.2 2.1 185.3

____________________________________________________________________________________________

Equity attributable to equity holders of the parent

Share Share Other Retained Minority Total
capital premium reserves earnings Total interests equity
£m £m £m £m £m £m £m

At 1st January 2008 32.4 68.8 37.1 216.7 355.0 2.1 357.1

Total comprehensive income / (losses) for year ended 31st
December 2008 - - 19.4 (8.4) 11.0 (0.3) 10.7
Dividends and cash return - - - (151.2) (151.2) - (151.2)
Shares issued 0.1 0.2 - - 0.3 - 0.3

Costs associated with share
consolidation - (0.4) - - (0.4) - (0.4)
Transfer between reserves - (39.0) 39.0 - - - -

_______________________________________________________________________________________________
At 31st December 2008 32.5 29.6 95.5 57.1 214.7 1.8 216.5

_______________________________________________________________________________________________

1. CORPORATE INFORMATION The interim condensed consolidated financial statements of the Group for the six months ended 30th June 2009 were authorised for issue in accordance with a resolution of the directors on 27th August 2009.

AGA Rangemaster Group is a public limited company incorporated and domiciled in the UK whose shares are publicly traded on the London Stock Exchange.

The principal activities of the Group are the manufacture and sale of range cookers and related home fashions products.

The interim condensed consolidated financial statements do not comprise the Group's statutory accounts as defined by section 240 of the Companies Act 1985. Statutory accounts for the year ended 31st December 2008 were approved by the board of directors on 13th March 2009 and were delivered to the Registrar of Companies. The auditors' report on those accounts was unqualified, it did not contain an emphasis of matter paragraph and did not contain any statement under section 237 of the Companies Act 1985.

The financial information presented here is unaudited but has been reviewed by the Group's auditor, Ernst & Young LLP. Its review opinion appears at the end of these notes.

2. BASIS OF PREPARATION The interim condensed consolidated financial statements for the six months ended 30th June 2009 have been prepared in accordance with the Disclosure and Transparency Rules of the Financial Services Authority and with International Accounting Standard 34 (IAS 34) 'Interim Financial Reporting' as adopted by the European Union.

The interim condensed consolidated financial statements do not include all the information and disclosures required in the annual financial statements and should be read in conjunction with the Group's annual financial statements as at 31st December 2008 which have been prepared in accordance with IFRSs as adopted by the European Union.

The directors have a reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the half-yearly condensed financial statements.

3. ACCOUNTING POLICIES The interim condensed consolidated financial statements have been prepared using the same accounting policies as used in the preparation of the Group's annual financial statements for the year ended 31st December 2008 except for the adoption of new standards and interpretations, noted below.

IAS 1 - Presentation of Financial Statements (revised)

The revised standard separates owner and non-owner changes in equity. The statement of changes in equity includes only details of transactions with owners, with non-owner changes in equity presented as a single line. In addition, the standard introduces the statement of comprehensive income which presents all items of recognised income and expense, either in one single statement, or in two linked statements. The Group has elected to present two statements.

IFRIC 13 - Customer Loyalty Programmes

This interpretation clarifies where goods and services are sold together with a customer loyalty incentive the arrangement should be accounted for as a sale of two things - the goods / services and the incentive. Amounts due from the customer should be allocated between these two elements in proportion to their fair values and recognised as revenue at different times. The adoption of this interpretation did not have any material impact on the financial position or performance of the Group.

IFRIC 16 - Hedges of a Net Investment in a Foreign Operation

This interpretation provides guidance on the accounting for a hedge of a net investment. As such it provides guidance on identifying the foreign currency risks that qualify for hedge accounting in the hedge of a net investment, where within the Group the hedging instruments can be held in the hedge of a net investment and how an entity should determine the amount of foreign currency gain or loss, relating to both the net investment and the hedging instrument, to be recycled on disposal of the net investment. The Group has elected to recycle the gain or loss that arises from the direct method of consolidation, which is the method the Group uses to complete its consolidation. As the Group did not dispose of any net investment it has no impact on the financial position or results.

The adoption of the following amendments resulted in changes to accounting policies but did not have any impact on the financial position or performance of the Group.

IAS 1 - Presentation of Financial Statements

Assets and liabilities classified as held for trading in accordance with IAS 39 Financial Instruments: Recognition and Measurement are not automatically classified as current in the balance sheet. No reclassification of financial instruments between current and non-current have been made as a result of this amendment.

IAS 16 - Property, Plant and Equipment

The term 'net selling price' has been replaced with 'fair value less costs to sell'. No change in the financial position has been made as a result of this amendment.

IAS 38 - Intangible Assets

Expenditure on advertising and promotional activities is recognised as an expense when the Group either has a right to access the goods or has received the service. This amendment has no material impact on the financial position or results of the Group.

IAS 27 (revised) - Consolidated and Separate Financial Statements and IFRS 3 (revised) Business Combinations are both effective for accounting periods beginning on or after 1st July 2009. The directors anticipate that the adoption of these revised standards will have no material impact on the financial statements.

4. SEASONALITY OF OPERATIONS Historically the normal seasonal nature of our range cooker business saw higher revenues and operating profits in the second half of the year than in the first six months. This did not apply in 2008 when market conditions changed materially in the second half of the year.

5. SEGMENTAL ANALYSIS The directors consider that there are two operating segments which meet the aggregation criteria. Therefore the directors consider that there is only one reportable aggregated segment. All disclosures required under IFRS 8 and IAS 34 have therefore already been given in these interim condensed consolidated financial statements.

The non-recurring costs relate to redundancy and reorganisation programmes across the Group.

6. TAXATION Corporation tax for the interim period to 30th June 2009 has been charged at the estimated rates chargeable for the full year in the respective jurisdictions as follows:

Half year Half year Year to
to June to June December

__________________________________________
£m £m £m

Current tax
UK corporation tax - 2.8 4.1
Overseas tax - - 1.4

________________________________________________________________________________________
- 2.8 5.5

Deferred tax
UK corporation tax - (0.3) (1.6)
Overseas tax - - (1.2)

________________________________________________________________________________________
- (0.3) (2.8)

________________________________________________________________________________________
Total income tax expense - 2.5 2.7

________________________________________________________________________________________

UK corporation tax - 2.5 2.5
Overseas tax - - 0.2

________________________________________________________________________________________
Total income tax expense - 2.5 2.7

________________________________________________________________________________________

7. LOSS / EARNINGS PER SHARE The calculation of the basic and diluted loss / earnings per share is based on the following data:

Half year Half year Year to
to June to June December

__________________________________________
£m £m £m

Loss / earnings
(Loss) / profit after tax (2.4) 9.8 11.7
Minority interests 0.8 - 0.7

________________________________________________________________________________________
(Loss) / profit attributable to equity (1.6) 9.8 12.4

holders of the parent ________________________________________________________________________________________

Weighted average number of shares in issue million million million
For basic EPS calculation 69.2 102.8 85.9
Dilutive effect of share options - 0.8 0.2

________________________________________________________________________________________
For diluted EPS calculation 69.2 103.6 86.1

________________________________________________________________________________________
Half year Half year Year to
to June to June December

Total operations p p p
Basic (2.3) 9.5 14.4
Diluted (2.3) 9.5 14.4

________________________________________________________________________________________

8. DIVIDENDS
Half year Half year Year to
to June to June December

£m £m £m

No final dividend for the year ended
31st December 2008 (2007: 7.65p) - 8.7 8.7
No interim dividend paid (2008: 4.0p) - - 2.8
Return of cash of £1.21 per share - 139.7 139.7

________________________________________________________________________________________ Amounts recognised as distributions to
equity holders of the parent in the period - 148.4 151.2

________________________________________________________________________________________

The directors are not proposing to pay an interim dividend in respect of the financial year ending 31st December 2009 (2008: 4.0p).

9. PROPERTY, PLANT & EQUIPMENT During the six months to 30th June 2009 the Group purchased £4.3m (period to 30th June 2008: £2.6m) of property, plant and equipment of which £2.8m, relating to the building of the new Marvel factory in the US, was included in payables at 31st December 2008. Depreciation in the period was £3.4m (period to 30th June 2008: £3.8m). Disposals in the period were £nil (period to 30th June 2008: £nil).

10. RETIREMENT BENEFITS Defined benefit scheme assets have been valued at a market value of £637.5m (31st December 2008: £655.0m) and the defined benefit liabilities at £651.3m (31st December 2008: £597.5m), giving a £13.8m deficit at the interim date (31st December 2008: £57.5m surplus). The liabilities have been rolled forward from 31st December 2008 and adjusted to take account of the decrease in bond yields, which have decreased the discount rate from 6.4% to 6.2%. The net pension credit for the period was £0.8m (period to 30th June 2008: £2.5m).

11. CASH & BORROWINGS Cash

Cash and cash equivalents at 30th June 2009 was £38.5m (2008: £36.0m) and includes £22.5m which is offset against the provision of a bank guarantee that the Group has provided to the AGA Rangemaster Group Pension Scheme.

Borrowings
30th June 30th June 31st December

£m £m £m

Bank borrowings
Current (unsecured) 5.7 5.6 9.7
Non-current 30.5 13.5 27.4

_______________________________________________________________________________
Total 36.2 19.1 37.1

_______________________________________________________________________________

Current and non-current bank borrowings included no obligations under finance leases at 30th June 2009 (30th June 2008: nil, 31st December 2008: nil).

The Group's bank borrowings are primarily loan advances denominated in a number of currencies and have floating interest rates based on LIBOR or foreign equivalents.

At 30th June 2009 the non-current borrowings are split £0.4m secured and £30.1m unsecured.

12. PROVISIONS During the period £1.2m has been spent in respect of the redundancy and reorganisation programmes across the Group that were provided for at 31st December 2008.

13. SHARE CAPITAL The number of shares in issue amounted to 69.2m on 30th June 2009 (30th June 2008 and 31st December 2008: 69.2m).

14. FINANCIAL INSTRUMENTS Included in borrowings at 30th June 2009 were loans of USD13.7m and EUR7.5m, which have been designated as hedges of net investments in operations based in the United States and Europe. The loans are held as a hedge against the Group's exposure to foreign exchange risk on these investments.

During the six month period ended 30th June 2009, the gain of £1.2m on the retranslation of the USD loan and the gain of £0.9m on the retranslation of the Euro loan have been transferred to equity to offset any gains and losses on translation of the net investments in subsidiaries.

15. CONTINGENT LIABILITIES & COMMITMENTS The Group had no material contingent liabilities arising in the normal course of business at 30th June 2009.

The Group has arranged £50.0m of bank guarantees, to guarantee obligations of the Company to the AGA Rangemaster Group Pension Scheme which may arise in the period up to 2020, of which £22.5m of cash is offset as disclosed in note 11.

The Group had capital commitments of £0.9m at 30th June 2009 (31st December 2008: £0.7m).

16. RELATED PARTY TRANSACTIONS The Group recharges the Group pension scheme with the cost of administration and independent advisers paid by the Group. The total amount recharged in the period was £0.1m (half year to 30th June 2008: £0.1m). The amount outstanding at 30th June 2009 was nil (30th June 2008: £0.1m).

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors' confirm that these condensed consolidated interim financial statements have been prepared in accordance with IAS 34 as adopted by the European Union and that the interim management report includes a fair review of the information required by DTR 4.2.7R and DTR 4.2.8R, namely:

months and their impact on the condensed set of financial statements and a

description of the principal risks and uncertainties for the remaining six

months of the financial year; and

material changes in the related party transactions described in the last

annual report. The directors of AGA Rangemaster Group plc are listed in the annual report for 31st December 2008.

By order of the board

W B McGrath Chief Executive

S M Smith Finance Director

INDEPENDENT REVIEW REPORT TO THE MEMBERS OF AGA RANGEMASTER GROUP PLC

Introduction

We have been engaged by the company to review the condensed set of financial statements in the half-yearly financial report for the six months ended 30th June 2009 which comprises the Consolidated Income Statement, Consolidated Balance Sheet, Consolidated Statement of Comprehensive Income, Consolidated Statement of Changes in Equity, Consolidated Cash Flow Statement and the related notes 1 to 16. We have read the other information contained in the half-yearly financial report and considered whether it contains any apparent misstatements or material inconsistencies with the information in the condensed set of financial statements.

This report is made solely to the company in accordance with guidance contained in ISRE 2410 (UK and Ireland) 'Review of Interim Financial Information Performed by the Independent Auditor of the Entity' issued by the Auditing Practices Board. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company, for our work, for this report, or for the conclusions we have formed.

Directors' responsibilities

The half-yearly financial report is the responsibility of, and has been approved by, the directors. The directors are responsible for preparing the half-yearly financial report in accordance with the Disclosure and Transparency Rules of the United Kingdom's Financial Services Authority.

As disclosed in note 2, the annual financial statements of the Group are prepared in accordance with IFRSs as adopted by the European Union. The condensed set of financial statements included in this half-yearly financial report has been prepared in accordance with International Accounting Standard 34, 'Interim Financial Reporting', as adopted by the European Union.

Our responsibility

Our responsibility is to express to the company a conclusion on the condensed set of financial statements in the half-yearly financial report based on our review.

Scope of review

We conducted our review in accordance with International Standard on Review Engagements (UK and Ireland) 2410, 'Review of Interim Financial Information Performed by the Independent Auditor of the Entity' issued by the Auditing Practices Board for use in the United Kingdom. A review of interim financial information consists of making enquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing (UK and Ireland) and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Conclusion

Based on our review, nothing has come to our attention that causes us to believe that the condensed set of financial statements in the half-yearly financial report for the six months ended 30th June 2009 is not prepared, in all material respects, in accordance with International Accounting Standard 34 as adopted by the European Union and the Disclosure and Transparency Rules of the United Kingdom's Financial Services Authority.

Ernst & Young LLP Birmingham

Head office and registered office

AGA Rangemaster Group plc Juno Drive Leamington Spa Warwickshire

CV31 3RG

Telephone: 01926 455 755 Fax: 01926 455 749 e-mail: info@agarangemaster.com Website: www.agarangemaster.com Registered in England No. 354715

Registrars

Equiniti Aspect House Spencer Road Lancing West Sussex

BN99 6DA

Telephone (Helpline): 0871 384 2355 (Calls to this number are charged at 8p per minute from a BT landline. Other telephone providers' costs may vary). International (Helpline): 0044 (0) 121 415 7047

Auditors

Ernst & Young LLP

Joint financial advisers and stockbrokers

Citigroup Global Markets Limited Numis Securities Limited

END

Enquiries:

William McGrath, Chief Executive 020 7404 5959 (today)
01926 455 731 (thereafter)
Charlotte Kenyon (Brunswick) 020 7404 5959

END