Your be better off taking out the front wheel... And then sliding the mudguard down the fork legs.....Done it the hard way on mine and came close to breaking it !!
Thanks for the warning guys! Is it *possible* to get the thing off and replace it (it's carbon fibre) without knackering or scratching the guard or the fork legs? I really don't wanna take the wheel out unless I really have to. Thought it would be a quick job -- doh!