HPT High-Point Ren.

RNS Number:7681G
High-Point Rendel Group PLC
29 January 2003



High-Point Rendel Group plc

29 January 2003

AGM Statement


At the Annual General Meeting of High-Point Rendel Group plc (the "Company")
held today all of the resolutions proposed at the meeting were duly passed and
the Chairman, Tony Palmer, gave the following update to shareholders:

"The benefits of the restructuring last summer have shown through in the trading
results for the first quarter of the current year with the level of net fees
being maintained, despite streamlining of the group businesses and lower cost
base.  This trend has continued into the second quarter, notwithstanding the
high level of global instability.

However, the continuing delay in agreeing significant additional fee
entitlements of certain long term investments leaves the Company with an
unacceptable level of indebtedness.  The Company has the support of its bankers,
and the Board has prioritised cash generation in all areas in order to redress
the situation.

Discussions which may or may not lead to an offer for the Company are ongoing.
There is nothing further to report on this at the current time."


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