AGM Statement

RNS Number:8640N
Chloride Group PLC
23 July 2003

                                                                    23 July 2003

                               CHLORIDE GROUP PLC
                             ANNUAL GENERAL MEETING


At today's AGM the Chairman, Norman Broadhurst, made the following trading
up-date to shareholders:

"I am pleased to report that Chloride made good progress last year, despite the
challenging market environment.  We maintained sales in our core European market
and grew service revenues strongly.  Both operating profit and EPS before
goodwill amortisation and exceptional items increased by 40%.  Cash flow was
strong at 168% of operating profit before goodwill amortisation.

At the time of our Preliminary Results announcement on 29 May 2003, I said that
the immediate trading environment was challenging and we did not expect any
recovery in our markets in the short term.  Today we are still cautious about
the near-term trading outlook, as difficult trading conditions continue,
especially in continental Europe.  Nevertheless, our order book is marginally
ahead of the first quarter last year and service revenues are up year on year,
as we continue to make good progress with our total solutions approach.

Against a background of severe product pricing pressure, overall gross margins
are being improved through higher service revenues, the benefit of new products,
and lower product costs.  We continue to focus resources on specific growth
sectors and on building relationships with blue-chip customers where our leading
technology and broad range of solutions add value for those customers.

I am pleased to report that the capabilities of our recent acquisition, Chloride
Masterguard Power Systems Limited (CMPS), based in Shanghai, are in line with
expectations.  The acquisition of CMPS from Siemens gives us a long-term
strategic platform to develop our telecom systems, UPS and industrial systems
operations in the growing Chinese power protection market.  However, in the
first quarter of this year the SARS epidemic has adversely impacted our business
in China.

Our continually improving competitive position, established relationships with
blue-chip customers worldwide, and the ongoing enhancement of our leading range
of total solutions leave us well placed to make further progress.  We therefore
remain convinced of the longer-term prospects for our business in a global
market driven by the need for business continuity."


Enquiries:                                                  Telephone:


Chloride Group PLC                                          [phone]
       Keith Hodgkinson (Chief Executive)
       Neil Warner (Finance Director)

Hudson Sandler                                              [phone]
       Andrew Hayes/James Hill



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