29th August 2008 IMMEDIATE RELEASE AGA RANGEMASTER GROUP PLC 2008 INTERIM RESULTS HIGHLIGHTS Aga Rangemaster Group plc ("the Group"), which sells premium branded cookers and refrigerators, is pleased to announce its interim results for the half year ended 30th June 2008. Half year to 30th June Restated 2008 2007 Increase Continuing operations £m £m % Revenue 145.1 142.4 1.9 Operating profit (excluding property profits) 9.0 8.9 1.1 Profit before tax 12.3 12.3 - Basic earnings per share 9.5p 8.0p 18.8 Dividend per share proposed 4.0p 3.85p 3.9 Shareholders' equity 183.2 319.0 Net cash / (borrowings) 16.9 (79.7)

* Resilient trading results in the first half with continued top line growth.

* Underlying operating profits excluding property profits and profit before

tax flat year-on-year.

* £140 million capital return completed following £265 million sale of

foodservice operations.

* Strong and flexible balance sheet with net cash of £17 million at 30th June

2008.

* Dividend increased to 4.0 pence per share - increased for a seventh

successive year.

"As Aga Rangemaster we have a strong family of consumer brands with a focus on the kitchen providing top class home economics. Our performance in the first half proved resilient. Having made disposals, returned cash to shareholders and still with net cash, the business base is strong. Our products - including exciting new ones such as programmable gas Agas, wood burning stoves and induction hob range cookers - are well attuned to the needs of today's customers and we expect to emerge stronger and even better positioned following this current economic down cycle". William McGrath Chief Executive Enquiries: William McGrath,Chief Executive 020 7404 5959 (today) Shaun Smith, Finance Director 0121 711 6015 (thereafter)

Simon Sporborg / Charlotte Kenyon (Brunswick) 020 7404 5959

AGA RANGEMASTER GROUP PLC 2008 INTERIM RESULTS Overview Aga Rangemaster is a leading consumer brands Group which sells some of the best known and loved kitchen appliances in the world. The sale of our commercial foodservice operations last Autumn and the resulting return of capital this Spring have positioned the Group well for the future. We now have a sound financial base and the opportunity to make the most of our production capacity and routes to market for our family of premium products. Current market conditions are creating short term constraints for us, but do not detract from the validity of our financial goals and our expectation of growing volumes and margins in our core operations.

Trading performance

Having completed the sale of our foodservice operations last December to Ali Group for £265 million in cash, the trading results for the first half of 2007 for those businesses have been reclassified as discontinued. Reported revenues in the first half of 2008 for continuing operations were £145.1 million; 1.9% above revenues in the prior year. Operating profits were £9.0 million; slightly above the £8.9 million delivered in the prior year (excluding a £1.4 million property profit in 2007). In the first half of 2008 an exceptional reorganisation charge of £2.6 million has been incurred as rationalisation programmes were instigated principally within our Irish and US operations. This still left profit before tax flat year on year at £12.3 million benefiting from higher net interest income of £3.4 million (2007: £1.0 million payment). The tax rate applicable to the continuing business of 20.3% continues to be below the UK standard rate. The return of capital in May incorporated a 3 for 5 share consolidation based on the then prevailing share price of 302 pence per share. This resulted in a reduction in the number of shares in issue to 69.2 million from 115.3 million. The average number of shares in issue in 2008 will be approximately 86 million. Earnings per share from continuing operations for the first half of 2008 rose in the year by 18.8% from 8.0 pence to 9.5 pence. Reflecting our confidence in the outlook for the business and a strong balance sheet, the Board has decided to maintain its progressive dividend policy across the economic cycle and is declaring an increase in the interim dividend from 3.85 pence per share to 4.0 pence per share.

Operations

The Group sells cast iron cookers both through owned retail outlets and via closely linked dealers. It sells a wider premium appliance offering primarily through distributors. The Group is targeting sales growth of its evolving range of heat storage cast iron cookers. In the first half sales were flat for Aga and Rayburn and there was a benefit from a continuing move to larger models. Sales of electric models for Aga continued to increase in the first half and electric Agas accounted for more than 50% of sales for the first time. This follows from increasing customer recognition of the benefits of programmability in terms of flexibility and cost. For Rayburn, the new upgraded wood burner models were a success and overall, solid fuel models accounted for over 35% of sales. Stanley is also seeing a move back to solid fuel models which can partly offset the sharp fall in oil-fired cookers seen in the first half as oil prices rose. Rangemaster continues to perform strongly. Here the volume target is to grow sales beyond 76,000 cooker sales a year; the level reached in 2007. In the first half volumes were unchanged and encouragingly overall revenues were up 5% as the wider Rangemaster offering which includes splash-backs, cooker hoods and refrigerators all did well. The emergence of more dealers creating Rangemaster 'design centres' within their showrooms has been a particular success. 20% of Rangemaster sales were outside the UK. Volumes in Ireland fell significantly, but this was offset by the expansion achieved in France where the range cooker market continues to develop well. In the USA our markets continue to be weak and Marvel, the undercounter refrigeration company, saw volumes fall. Volumes have now stabilised but were still down over 15% in the half year against strong comparatives in 2007. We are investing in a new facility in Greenville, Michigan for the refrigeration business so rationalising two factories into one. The $10 million investment is expected to bring operational benefits immediately the facility opens in early 2009. This investment will help Marvel to achieve our established return on sales target of 12%. We have excellent home fashions brands in Fired Earth and Grange. Fired Earth is part of an overall Aga Fired Earth retail operation and saw sales up nearly 10% in the first half. Our current tile ranges for kitchens and bathrooms are particularly strong. Grange - which makes kitchens for Fired Earth - has made further good progress in Europe, although the US operation, which has struggled for some years and has been subject to further cost cutting measures, continues to make losses. The plan remains to return these businesses to profitability and to see them benefit from the Group's renewed focus on customer relationship management. In the first half of the year the Group had to face sustained higher input costs notably for stainless steel. The international sourcing strategies the Group has in place have helped to mitigate these cost increases. We continue to drive towards the 12% return on sales target but progress to date has been challenging with higher input costs and energy prices likely to restrict progress in the near term. Efficiency gains - epitomised by the successful re-layout at Rangemaster and the wider use of robotics - and the continual review of overheads helped to offset the margin impact. The Group is consolidating a number of warehousing facilities in a new distribution centre in Leamington Spa. This will also incorporate the Group's head office and customer relationship management activities.

Financial position

Our exit from foodservice and capital return still left the Group with net cash - at this time in the economic cycle a clear strength. The work in the early part of the year to establish 4-year term banking lines with established relationship banks was well timed.

The Group continues to monitor the position of the Pension Scheme. The agreement with the Trustee runs through to 2020 and was designed to provide stability for all parties. Our understanding of the cash flows underpinning the Scheme continues to increase. The Trustee and the Company remain aware of evolving initiatives in the insurance market that could be relevant to the Scheme to secure the positions of all parties further before 2020.

At 30th June 2008 on an IAS 19 basis the Group Schemes had a surplus of £31.3 million on liabilities of £681.9 million - lower than the surplus of £79.6 million at 31st December 2007. The movement results primarily from the weak equity markets and the increase in inflation rate assumptions. The net cash contribution to the Scheme in the first half was £0.6 million and the income statement net pension credit was £2.5 million.

Risks and uncertainties

These comments cover the principal changes to the risks and uncertainties facing the Group, updating the comments made in the last annual report. In that report we set out a range of risks and uncertainties the Group faces and addresses. Among those risks and uncertainties, we face changes in the overall economic environment, the impact of rising raw material and utility prices, levels of demand in consumer markets, our new product developments and Pension Scheme funding. Product development The Group's product range has long been held in high esteem for both look and functionality. With consumers particularly interested in household bills, healthy living and the quality of the environment, we are emphasising how well our products meet these imperatives. For example, our cookers are recyclable and will operate for many years. Most Aga and Rayburn models - including the new Aga gas models - are programmable, operating when needed. Agas have always been multi-functional covering cooking and heating; they help to eliminate a raft of secondary appliances and acquiring a modern Aga need not increase household bills. In the medium term we share the view of the electricity generators that the future of renewables is linked to energy storage. In the domestic context this should mean heat storage appliances are needed of which our cast iron cookers are the epitome. So whether it is low cost, otherwise wasted overnight electricity, or power from a micro generation source, Aga remains the heart of the home. Similarly, at Rangemaster we are at the forefront in bringing the latest efficient technology to widened markets. This is best seen in the new Rangemaster induction electric models. Induction cooking is as flexible as gas and has safety advantages. We expect induction hobs on range cookers to gain a substantial share of the market and we are at the forefront of bringing the technology, with which we are familiar from our commercial appliance background, to market through our leading brands in Falcon and now Rangemaster.

Strategy and outlook

The Board is pleased with the overall strategic position reached since it concluded that it should sell foodservice when expansion opportunities for the businesses were not available. We have an outstanding and relevant product range for our consumer markets; firmly established routes to market; cost and efficiency programmes in place backed by a strong balance sheet and cash generative businesses. We recognise that consumer markets are likely to remain challenging - order intake over the Summer has been down by around 5%. Headed into the typically busy Autumn season, we have products and marketing initiatives relevant to current consumer priorities and believe that the strengths of our brands mean that we will be well placed as the economic cycle evolves. J Coleman W B McGrath Chairman Chief Executive 29th August 2008 AGA RANGEMASTER GROUP PLC INTERIM RESULTS CONSOLIDATED INCOME STATEMENT Restated Half year Half year Year to to June to June December 2008 2007 2007

______________________________________

Note £m £m £m Continuing operations Revenue 145.1 142.4 291.8 Net operating costs (136.1) (132.1) (266.8)

________________________________________________________________________________________

Group operating profit 9.0 10.3 25.0 Net pension credit 10 2.5 3.0 6.0 Non-recurring cost 5 (2.6) - -

________________________________________________________________________________________

Profit before net finance costs and income tax 8.9 13.3

31.0 Finance income 3.8 0.7 2.0 Finance costs (0.4) (1.7) (5.4)

________________________________________________________________________________________

Profit before income tax 12.3 12.3

27.6

Income tax expense 6 (2.5) (2.4)

(4.2)

________________________________________________________________________________________

Profit for the period from continuing operations 9.8 9.9

23.4

________________________________________________________________________________________

Discontinued operation Post tax profit from discontinued operations - 7.4

40.1

________________________________________________________________________________________

Profit for the period 9.8 17.3

63.5

________________________________________________________________________________________

Profit attributable to equity shareholders 9.8 17.4

63.4

Profit attributable to minority interests - (0.1)

0.1

________________________________________________________________________________________

Profit for the period 9.8 17.3

63.5

________________________________________________________________________________________

Earnings per share - continuing operations 7 p p p Basic 9.5 8.0 19.4 Diluted 9.5 7.9 19.2

________________________________________________________________________________________

Earnings per share - total operations 7 p p p Basic 9.5 13.9 52.7 Diluted 9.5 13.8 52.2

________________________________________________________________________________________

p p

p

Dividend per share - proposed or paid 8 4.0 3.85

11.5

Return of cash / special dividend - paid 8 121.0 43.0

43.0

________________________________________________________________________________________

AGA RANGEMASTER GROUP PLC CONSOLIDATED BALANCE SHEET Half year Half year Year to to June to June December 2008 2007 2007

__________________________________________

Note £m £m £m Non-current assets Goodwill 61.4 169.7 60.1 Intangible assets 19.0 29.1 18.0 Property, plant and equipment 9 51.0 84.6 51.7 Investments in associates - 0.3 - Retirement benefit surplus 10 32.1 76.8 80.4 Deferred tax assets 3.0 6.5 2.7

_________________________________________________________________________________________

166.5 367.0

212.9

_________________________________________________________________________________________

Current assets Inventories 58.9 105.4 54.9 Trade and other receivables 39.9 106.3 46.4 Current tax assets 1.5 7.2 1.5 Cash and cash equivalents 11 36.0 42.6 181.5

_________________________________________________________________________________________

136.3 261.5

284.3

_________________________________________________________________________________________

Total assets 302.8 628.5

497.2

_________________________________________________________________________________________

Current liabilities Borrowings 11 (5.6) (3.7) (4.3) Trade and other payables (57.8) (117.0) (76.4) Current tax liabilities (11.3) (16.5) (8.7) Current provisions 12 (3.6) (5.7) (2.6) _________________________________________________________________________________________ (78.3)

(142.9) (92.0) _________________________________________________________________________________________ Net current assets

58.0 118.6

192.3

_________________________________________________________________________________________

Non-current liabilities Borrowings 11 (13.5) (118.6) (8.1) Other payables - (1.0) - Retirement benefit obligation 10 (0.8) (3.4) (0.8) Deferred tax liabilities (15.7) (33.1) (29.9) Provisions 12 (9.2) (8.6) (9.3) _________________________________________________________________________________________ (39.2)

(164.7) (48.1) _________________________________________________________________________________________ Total liabilities

(117.5)

(307.6) (140.1) _________________________________________________________________________________________ Net assets

185.3 320.9

357.1

_________________________________________________________________________________________

Shareholders' equity Share capital 13 32.4 32.4 32.4 Share premium account 13 30.0 68.6 68.8 Other reserves 13 79.0 28.3 37.1 Retained earnings 41.8 189.7 216.7

_________________________________________________________________________________________

Shareholders' equity 183.2 319.0

355.0

Minority interest in equity 2.1 1.9

2.1

_________________________________________________________________________________________

Total equity 185.3 320.9

357.1

_________________________________________________________________________________________

AGA RANGEMASTER GROUP PLC CONSOLIDATED CASH FLOW STATEMENT Half year Half year Year to to June to June December 2008 2007 2007

_____________________________________

Note £m £m £m Cash flows from operating activities Cash generated from operations post pensions (0.1) 2.2 12.4 items Finance income 3.8 0.9 1.8 Finance costs (0.3) (1.4) (5.0) Tax payment (0.2)

(0.7) (4.9) _________________________________________________________________________________________ Net cash generated from operating activities

3.2 1.0

4.3

_________________________________________________________________________________________

Cash flows from investing activities Proceeds from sale of subsidiaries less costs (3.2) 1.8

259.8

Purchase of property, plant and equipment 9 (2.6) (7.0) (17.1) Expenditure on intangibles

(0.9) (1.3) (3.9) Proceeds from disposal of property, plant and - -

5.3

equipment

__________________________________________________________________________________________

Net cash (used in) / from investing activities (6.7) (6.5) 244.1 __________________________________________________________________________________________

Cash flows from financing activities

Return of cash and dividends paid to 8 (148.4) (64.7) (69.1) shareholders

Net proceeds from issue of ordinary share 0.2 0.9

1.1

capital Increase / (repayment) of borrowings 1.3 -

(43.4)

New bank loans raised 5.0 68.8

1.7

_________________________________________________________________________________________

Net cash (used in) / generated from financing (141.9) 5.0

(109.7)

activities

_________________________________________________________________________________________

Effects of exchange rate changes (0.1)

(0.1) (0.4) _________________________________________________________________________________________ Net (decrease) / increase in cash and cash

(145.5) (0.6) 138.3 equivalents Cash and cash equivalents at beginning of period 181.5 43.2

43.2

_________________________________________________________________________________________

Cash and cash equivalents at end of period 36.0 42.6

181.5

_________________________________________________________________________________________

AGA RANGEMASTER GROUP PLC CONSOLIDATED STATEMENT OF RECOGNISED INCOME AND EXPENSE Half year Half year Year to to June to June December 2008 2007 2007

____________________________________

£m £m £m Profit for the period 9.8 17.3

63.5

________________________________________________________________________________________

Exchange adjustments on net investments 3.0 (0.2) 3.1 Actuarial (losses) / gains on defined benefit (50.9) 43.7

27.4

pension schemes

Deferred tax on items taken directly to reserves 14.2 (11.8) (10.8) ________________________________________________________________________________________ Income and expenses recognised directly in equity (33.7) 31.7

19.7

________________________________________________________________________________________

Transfers to income statement Movement on exchange as a result of disposals - -

5.5

________________________________________________________________________________________

Total recognised (expense) / income for period (23.9) 49.0

88.7

________________________________________________________________________________________

Attributable to: Equity shareholders (23.9) 49.1 88.6 Minority interests -

(0.1) 0.1 ________________________________________________________________________________________ Total recognised (expense) / income for period

(23.9) 49.0

88.7

________________________________________________________________________________________

CONSOLIDATED CASH FLOW STATEMENT - RECONCILIATION Continuing Total Total Half year Half year Half year Year to to June to June to June December 2008 2007 2007 2007

_____________________________________________________

£m £m £m £m Cash generated from operations

Profit before income tax - continuing operations 12.3 12.3

12.3 27.6 Profit - discontinued operations - - 7.6 12.7 Net finance (income) / costs (3.4) 1.0 0.8 3.0 Share based payments expense 0.3 0.2 0.3 0.9 Amortisation of intangible assets 0.7 0.5 1.0 2.2 Depreciation 3.8 3.6 5.4 11.2

Profit on disposal of property, plant and equipment - (1.4)

(1.4) (1.3) Increase in inventories (3.3) (4.4) (11.3) (24.4) (Increase) / decrease in receivables 0.4 (0.2) (3.7) (9.7) (Decrease) / increase in payables (9.0) (8.9) (2.3) 17.1 (Decrease) / increase in provisions 1.2 (0.7) (1.2) (0.3) Increase in pensions balances (3.1) (2.6) (4.3) (12.1) Pension scheme additional cash contributions - (1.0) (1.0) (14.5)

___________________________________________________________________________________________________________

Cash generated from operations post pension items (0.1) (1.6)

2.2 12.4

___________________________________________________________________________________________________________

AGA RANGEMASTER GROUP PLC NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

1. CORPORATE INFORMATION

On 9th May 2008 the Group changed its name from Aga Foodservice Group plc to Aga Rangemaster Group plc.

The interim condensed consolidated financial statements of the Group for the six months ended 30th June 2008 were authorised for issue in accordance with a resolution of the directors on 28th August 2008.

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 described in note 5.

The interim condensed consolidated financial statements do not comprise the Group's statutory accounts as defined by Section 240 of the Companies Act 1985 (section 435 of the Companies Act 2006). Statutory accounts for the year ended 31st December 2007 were approved by the Board of Directors on 14th March 2008 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 (section 498 of the Companies Act 2006). 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 2008 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 2007 which have been prepared in accordance with IFRSs as adopted by the European Union.

The 2007 income statement has been restated as the results of the Foodservice Equipment businesses have been reclassified as discontinued.

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 2007 except for the adoption of new standards and interpretations, noted below.

IFRIC 11 IFRS 2 - Group and Treasury Share Transactions

This interpretation requires arrangements whereby an employee is granted rights to an entity's equity instruments, to be accounted for as an equity-settled scheme, even if the entity buys the instruments from another party, or the shareholders provide the equity instruments needed. The adoption of this Interpretation did not have any effect on the financial position or performance of the Group.

IFRIC 14 IAS 19 - The Limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction

This Interpretation provides guidance on how to assess the limit on the amount of surplus in a defined benefit scheme that can be recognised as an asset under IAS 19 'Employee Benefits'. The adoption of this Interpretation did not have any effect on the financial position or performance of the Group.

The Group has also early adopted the following Standards and Interpretations:

IFRS 2 Share-based Payment - Vesting Conditions and Cancellations

The Group has elected to adopt the amendment to IFRS 2 as of 1st January 2008. The Standard has been amended to clarify the definition of vesting conditions and to prescribe the accounting treatment of an award that is effectively cancelled because a vesting condition is not satisfied. The adoption of this amendment did not have any impact on the financial position or performance of the Group. AGA RANGEMASTER GROUP PLC NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

3. ACCOUNTING POLICIES (CONTINUED)

IFRS 8 Operating Segments

The Group has elected to adopt IFRS 8 as of 1st January 2008. This standard requires disclosure of information about the Group's operating segments and replaces the requirement to determine primary (business) and secondary (geographical) reporting segments of the Group. Adoption of this Standard did not have any effect on the financial position or performance of the Group. The Group determined that the operating segment was the same as the business segment previously identified under IAS 14 'Segment Reporting'.

IAS 23 Borrowing Costs (Revised)

The Group has elected to adopt the revised IAS 23 as of 1st January 2008. The standard has been revised to require capitalisation of borrowing costs on qualifying assets and the Group has amended its accounting policy accordingly. In accordance with the transitional requirements of the Standard this has been adopted as a prospective change. Therefore, borrowing costs have been capitalised on qualifying assets with a commencement date on or after 1st January 2008. No changes have been made for borrowing costs incurred prior to this date that have been expensed. During the six months to 30th June 2008, no borrowing costs have been capitalised as construction of all qualifying assets commenced prior to 1st January 2008.

IAS 32 Financial Instruments: Presentation and IAS 1 Puttable Financial Instruments and Obligations Arising on Liquidation

The Group has elected to adopt the amendments to IAS 32 and IAS 1 as of 1st January 2008. The standards have been amended to allow a limited scope exception for puttable financial instruments to be classified as equity if they fulfill a number of specified criteria. The adoption of these amendments did not have any impact on the financial position or performance of the Group.

4. SEASONALITY OF OPERATIONS

Due to the seasonal nature of the range cooker business, historical revenue patterns indicate that higher revenues and operating profits are usually expected in the second half of the year than in the first six months.

5. SEGMENTAL ANALYSIS

The directors consider that there is only one operating segment being the manufacture and sale of range cookers and related equipment. Therefore all disclosures required under IFRS 8 have already been given in these interim condensed consolidated financial statements.

The non-recurring costs relate to redundancy and reorganisation programmes across the Group. AGA RANGEMASTER GROUP PLC NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

6. TAXATION

Corporation tax for the interim period to 30th June 2008 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 2008 2007 2007

_________________________________________

£m £m £m Current tax UK corporation tax 2.8 0.5 1.8 Overseas tax - 2.3 3.6

________________________________________________________________________________________

2.8 2.8 5.4 Deferred tax UK corporation tax (0.3) 1.2 2.6 Overseas tax - - (1.7)

________________________________________________________________________________________

(0.3) 1.2

0.9

________________________________________________________________________________________

Total income tax expense 2.5 4.0

6.3

________________________________________________________________________________________

Continuing operations 2.5 2.4

4.2

Discontinued operations - 1.6

2.1

________________________________________________________________________________________

Total income tax expense 2.5 4.0

6.3

________________________________________________________________________________________

7. EARNINGS PER SHARE

The calculation of the basic and diluted earnings per share is based on the following data: Half year Half year Year to to June to June December 2008 2007 2007

_________________________________________

£m £m £m Earnings Profit after tax from continuing 9.8 9.9 23.4 operations Minority interests - 0.1 (0.1)

________________________________________________________________________________________

Earnings - basic and diluted EPS 9.8 10.0

23.3

Profit from discontinued operations - 7.4

40.1

________________________________________________________________________________________

Profit attributable to equity 9.8 17.4

63.4

shareholders

________________________________________________________________________________________

Weighted average number of shares in million million million issue For basic EPS calculation 102.8 125.6 120.3 Dilutive effect of share options 0.8 0.9

1.1

________________________________________________________________________________________

For diluted EPS calculation 103.6 126.5

121.4

________________________________________________________________________________________

AGA RANGEMASTER GROUP PLC NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

7. EARNINGS PER SHARE (CONTINUED)

Half year Half year Year to to June to June December 2008 2007 2007

_________________________________________

Continuing operations p p p Basic 9.5 8.0 19.4 Diluted 9.5 7.9 19.2

________________________________________________________________________________________

Discontinued operations p p p Basic - 5.9 33.3 Diluted - 5.9 33.0

________________________________________________________________________________________

Total operations p p p Basic 9.5 13.9 52.7 Diluted 9.5 13.8 52.2

________________________________________________________________________________________

8. DIVIDENDS Half year Half year to June to June Amounts recognised as distributions to equity 2008 2007 shareholders in the period: _____________________________ £m £m Final dividend of 7.65p for the year ended 31st December 8.7

9.1

2007 (2006: 7.0p) per share

________________________________________________________________________________________

Return of cash of £1.21 (2007: 43.0p) per share 139.7

55.6

________________________________________________________________________________________

The directors are proposing an interim dividend in respect of the financial year ending 31st December 2008 of 4.0p per share (2007: 3.85p).

9. PROPERTY, PLANT & EQUIPMENT

During the six months to 30th June 2008 the continuing Group purchased £2.6m (period to 30th June 2007: £3.2m) of property, plant and equipment and depreciation in the period was £3.8m (period to 30th June 2007: £3.6m).

10. RETIREMENT BENEFITS SURPLUS

Defined benefit scheme assets have been valued at a market value of £713.2m (31st December 2007: £776.9m) and the defined benefit liabilities at £681.9m (31st December 2007: £697.3m), giving a £31.3m net surplus at the interim date (31st December 2007: £79.6m). The liabilities have been rolled forward from 31st December 2007 and adjusted to take account of the increase in bond yields, which have increased the discount rate from 5.8% to 6.6%. The net pensions credit for the period was £2.5m (period to 30th June 2007: £3.0m). AGA RANGEMASTER GROUP PLC NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 11. CASH & BORROWINGS Cash At 31st December 2007 the Group held £181.5m of cash and cash equivalents. In May 2008, £139.7m was utilised as a return to shareholders and £8.7m for the payment of the final dividend. The remaining cash and cash equivalents balance at 30th June 2008 was £36.0m, this includes £22.5m which is collateralised against a bank guarantee facility, in respect of a guarantee given for the benefit of the Aga Rangemaster Group Pension Scheme. Borrowings 30th June 30th June 31st December 2008 2007 2007

_______________________________________________

£m £m £m Bank borrowings Current (unsecured) 5.6 3.7 4.3 Non-current 13.5 118.6 8.1

_____________________________________________________________________________________

Total 19.1 122.3

12.4

_____________________________________________________________________________________

Current and non-current bank borrowings included nil obligations under finance leases at 30th June 2008 (30th June 2007: £0.2m for current and non-current, 31st December 2007: 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, with margins ranging between 0.375% and 0.6%.

At 30th June 2008 the non-current borrowings are split £0.4m secured and £13.1m unsecured.

12. PROVISIONS

During the period £1.4m has been provided for in respect of the redundancy and reorganisation programme at Northland Marvel.

13. SHARE CAPITAL

During the period 118,557 ordinary shares (nominal value £34,266) were issued in connection with the Company's share option schemes for an aggregate consideration of £0.2m.

As part of the return of cash to shareholders, during the period, B and C shares were issued for every existing ordinary share and subsequently redeemed and cancelled on completion of the return to shareholders. As a consequence of this £39.0m was transferred from the share premium account to the capital redemption reserve. The Company also undertook a share consolidation by which five existing ordinary shares with a nominal value of 28 1/8 pence were exchanged for three new ordinary shares with a nominal value of 46 7/8 pence. The new ordinary shares carry the same rights as the old ordinary shares.

The number of shares in issue amounted to 69.2m on 30th June 2008 (31st December 2007: 115.2m).

14. SHARE BASED PAYMENTS

On 12th May 2008, 204,519 awards were granted to senior executives under the LTIP scheme. The LTIP consists of a right to acquire shares at a nominal price of £1 which will be exercisable after a period of three years at the earliest. The actual percentage of shares acquired depends on two performance criteria. The first of these is a comparison of the Company's total shareholder return (TSR) with the TSR of companies in a comparator group and the second is based on the Group's earnings per share performance. The fair value of options granted during the six months to 30th June 2008 was estimated on the date of grant using an expected life of 3 years and a grant price of 285.4p. AGA RANGEMASTER GROUP PLC NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

15. FINANCIAL INSTRUMENTS

Included in borrowings at 30th June 2008 were loans of USD3.7m 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 2008, there was no gain or loss in respect of the USD loan and the loss of £0.4m on the retranslation of the Euro loan was transferred to equity to offset any gains and losses on translation of the net investments in subsidiaries.

16. CONTINGENT LIABILITIES & COMMITMENTS

The Group had no material contingent liabilities arising in the normal course of business at 30th June 2008.

The Group has arranged £50.0m of bank guarantees for the benefit of the Aga Rangemaster Group Pension Scheme of which £22.5m is cash collateralised as mentioned in note 11.

The Group had capital commitments of £nil at 30th June 2008 (31st December 2007: £0.7m).

17. 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 2007: £0.1m). The amount outstanding at 30th June 2008 was £0.1m (30th June 2007: £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 4.2.7 and DTR 4.2.8, namely:

- an indication of important events that have occurred during the first six

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 related party transactions in the first six months and any

material changes in the related party transactions described in the last

annual report.

The directors of Aga Rangemaster Group plc are listed in the Aga Foodservice Group plc annual report for 31st December 2007, with the exception of the following change in the period: John Coleman was appointed as Chairman when Vic Cocker CBE retired on 9th May 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 2008 which comprises the Consolidated Income Statement, Consolidated Balance Sheet, Consolidated Cash Flow Statement, Consolidated Statement of Recognised Income and Expense, Consolidated Cash Flow Statement - Reconciliation and the related notes 1 to 17. 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 2008 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 AGA RANGEMASTER GROUP PLC MAIN ADDRESSES AND ADVISERS

Head Office and Registered Office

Aga Rangemaster Group plc 4 Arleston Way Shirley Solihull B90 4LH Telephone: 0121 711 6000 Fax: 0121 711 6001 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

Dresdner Kleinwort Limited Citigroup Global Markets Limited 2008 Financial Calendar

Record date for interim ordinary dividend 7th November 2008 Interim ordinary dividend payable

3rd December 2008 2008 year end 31st December 2008