Here we go.
This post introduces another item from my Sex Pistols collection.
This time, I’m looking at The Swindle Continues, a Japanese 2LP picture disc released by VAP.
In this article, I’ll cover the record details and share some personal observations on The Ex Pistols.
🧷 Basic Information
・Title: The Swindle Continues
・Artist: Sex Pistols / The Ex Pistols
・Format: 2 × LP (33 1/3 RPM)
・Release date: 21 January 1988
・Label / Catalogue number: VAP 35204–5-45
・Sleeve: Picture discs with obi strip
🧷 Tracklist
✔️ Record1(Sex Pistols)
Side A
1. No Future
2. Problems
3. Pretty Vacant
4. Liar
Side B
1. E.M.I.
2. New York
3. No Fun
4. Anarchy In The U.K.
✔️ Record2(The Ex Pistols)
Side C
1. Here We Go Again
2. Silly Thing
3. Dancing On The Dole
4. Anarchy In The U.K.
Side D
1. Revolution In The Classroom
2. Judging Minds
3. Sex On 45
4. The Swindle Continues
🧷 Pressing / Variant Details
✔️ Matrix numbers (runout etchings)
・Side A: 35204-45-A-2 F 2A3

・Side B: 35204-45-B-1 1A1

・Side C: 35204-00-A-1 F 1B2

・Side D: 35205-00-B-1 1A3

As these are picture discs, the matrix inscriptions are very hard to read.
This copy is close to “Variant 2” listed on Discogs, but not an exact match.
Only up to Variant 2 is currently listed, so there may be additional variations.
✔️ Sleeve
The front sleeve has a circular cut-out allowing the picture disc to be seen.




This picture disc edition is exclusive to the Japanese release.
Johnny’s mouth artwork features the phrases “ROCK IS SICK” and “LIVING IN LONDON”.
The US vinyl and CD editions use the same standard sleeve design, credited to
“The Sex Pistols” and “The Ex Pistols”.


✔️ Obi Strip
The obi includes a period catch copy.

The reverse side lists other records released around the same time.

t also mentions record vouchers, which were apparently still in use then—something I wasn’t aware of.

✔️ Insert
Four-page English lyric sheet with liner notes.




🧷 Collector’s Notes
✔️ Sex Pistols
Sides A and B are genuine Sex Pistols performances.
They effectively represent half of what is often referred to as “Spunk 2” (sometimes labelled No Future U.K.?).
The remaining tracks from those sessions were later released as The Mini Album.
✔️ What are The Ex Pistols?
The following is a personal observation based on available sources and recordings, exploring this unusual project.
Much about the production background remains unclear, so this should be taken simply as one possible interpretation.
In short, it can be seen as a “fake” or parody project centred around Dave Goodman, the Sex Pistols’ early producer.
What makes it complicated—and interesting—is that it cannot be dismissed as a simple copy band.
Although the Sex Pistols themselves did not directly participate, there are accounts suggesting that genuine demo recordings and outtakes held by Goodman were used as a base, with additional performances overdubbed later.
Releases deliberately mixed what were presented as unreleased Sex Pistols recordings with new material produced by Goodman, which understandably caused confusion among fans.
As Goodman knew the Pistols’ sound in detail, the sonic resemblance is often striking.
For example, on other releases under The Ex Pistols name, the vocalist Tony Barber—who sang on Land of Hope & Glory—was frequently noted for sounding remarkably similar to John Lydon.
Personally, I assumed it was Lydon himself until fairly recently.
Regarding The Swindle Continues, one widely discussed theory is that the vocals were performed by Andy Blade of the punk band Eater.
Goodman once commented in an interview:
“If Malcolm McLaren fooled the world, why shouldn’t I do the same? This is my own form of art, and a joke.”
Whether this was simply playful experimentation or resentment after being dismissed from the project remains unclear.
What is known is that John Lydon reportedly reacted angrily, describing it as “a scam stealing my voice”.
It’s also worth noting that tracks C1 and C2 on this album are previously released songs, but appear here in newly recorded versions featuring Steve Jones and Paul Cook.
An album where authentic and inauthentic elements coexist—very much an extension of the idea of a “swindle”.
Approached with that in mind, it becomes an especially interesting listen.
🔜 Coming up next
Next time, I’ll be taking a closer look at the “swindle” single
Land of Hope & Glory.
Thanks for reading.
Bye bye. 🖐️
For collectors interested in Japanese editions
If you are drawn to the design and information found on Japanese releases, particularly obi strips, you may want to take a look at my Never Mind The Bollocks Japanese CD OBI Gallery.
This page organises each obi strip variation issued for the album individually, presenting the obi itself as the main focus in a collector-oriented reference format.
It is intended as an entry point for those interested in Japanese obi strips.




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