AGM Statement

RNS Number:9015P
First Technology PLC
18 September 2003





18th September 2003

                            Chairman's AGM Statement

In the Statement I made at the end of June, I referred to the various factors
which were having an adverse effect on global economies and our markets in
particular. As predicted, we have seen production slowdowns by the North
American car makers and a key factor in relation to the outcome for the year to
April 2004 will be the speed of recovery in the US economy, which is by far our
most important market.

It is encouraging to report that the order book has strengthened recently and
the Board expects trading performance to improve in September and October,
although we continue to believe that it is likely that the results for the first
half of the current financial year will be below those of last year. Our usual
trading pattern is for the second half of the year to be stronger than the first
and we expect this again to be the case this year.

Cash generation is projected to remain good and tight controls on operating
costs remain in place. Your Board is confident that continued investment in new
products and targeted acquisitions will deliver growth in shareholder value in
the longer term.


                                                                Dr Fred Westlake
                                                                        Chairman

For further information:

Lulu Bridges / Justin Griffiths
Tavistock Communications
Tel: [phone]



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