AGM Statement

    FOR IMMEDIATE RELEASE 12 August 2008                      



                               AVID HOLDINGS PLC                               

                      ("the precision engineering group")                      

                (`Avid Holdings', `the Group' or `the Company')                

                                 AGM STATEMENT                                 

      SIGNIFICANT IMPROVEMENT IN TRADING IN FIRST SIX MONTHS OF THE YEAR       

       Turnover including acquisitions more than 150% ahead of last year       

     Trading companies now profitable and Group loss significantly reduced     

Michael Walter, the Chairman of Avid Holdings plc, will make the following
statement regarding trading in the first six months of the year at the Annual
General Meeting to be held today:

"The Group has made a good start to the current year with turnover for the
first six months more than 150% ahead of last year. All three trading companies
have been successfully integrated and are now operating profitably before
holding company overheads. The Group overall loss will be significantly
reduced. Interim results, to be announced in September, will include six months
from Electro-mec, which was acquired on 16 March 2007, and three months trading
from Alpha Anodising, which was acquired on 28 March this year.

Our business model, as a consolidator in the precision engineering sector,
combines organic growth with carefully targeted acquisitions. This strategy is
beginning to deliver synergies and cost savings and, subject to funding,
further acquisitions will be made, which should result in long-term benefits
for our shareholders."

For further information contact:

Jonathan Bobbett, Chief Executive

Avid Holdings Plc

Tel: [phone]

http://www.avidholdings.co.uk

Ross Andrews, Nominated Adviser

Zeus Capital Limited

Tel: [phone]

Stephen Goschalk, Stockbroker

Newland Stockbrokers Limited

Tel: [phone]

Brian Coleman-Smith / James Verstringhe, Financial Public Relations

Cubitt Consulting Limited

Tel: [phone]

Background note

Avid focuses on acquiring stable and profitable businesses within the precision
engineering sector. As the target sector is highly fragmented the Company
strongly believes that value can be added through consolidation.

The Group came into being through the acquisition of 3 Point Blue, which was
founded by Jonathan Bobbett, the Group's Chief Executive, and was reversed into
Euro Investment Fund plc in June 2006 and changed its name to Avid Holdings plc
on being admitted to trading on AIM in June 2006. Since then the Company has
made two further acquisitions.

Pill Protect

3 Point Blue became the first operating company in the emerging Group changing
its name to Pill Protect which provides pharmaceutical companies with child
resistant and senior friendly packaging solutions for their blister pack drugs.

Electro-Mec

Electro-Mec, founded in 1969, is a precision engineering business producing
high quality blister pack change tooling for the pharmaceutical industry (from
which it generates the majority of its revenues) as well as offering some
machining and assembly for the defence industry. It was acquired in February
2007 for a total consideration of £1.55 million of which £759,000 is dependent
on future profits.

Alpha Anodising

Alpha was established in 1972 and is a high quality metal finishing business
based in Buckinghamshire. It has developed a highly diversified customer base
due to its specialised expertise and reputation. Its offerings include a wide
range of production techniques such as mechanical and chemical finishes, high
quality surface and sub-surface printing, as well as professional design and
prototyping services. The company supplies the medical, scientific, defence and
audio industries. It was acquired for £799,813 of which £120,000 is deferred.



END