AGM Statement

RNS Number:1111L
Statpro Group PLC
15 May 2003


Thursday, 15 May 2003


                               STATPRO GROUP PLC

                           ("StatPro" or the "Group")

                        AGM Statement and Trading Update

  Announcement of iIntention to transfer to the Alternative Investment Market

At its Annual General Meeting held yesterday at 6.00 p.m., Carl Bacon, Chairman
of StatPro Group plc ("StatPro" or the "Company"), a provider of performance
measurement solutions for the global asset management industry, made the
following comments on current trading and the outlook for 2003:

Highlights:

  * Trading in the first four months of the current financial year in line
    with expectations
  * Continued focus on achieving objective of generating an operating profit
    in 2003
  * Announcement of intention to transfer to AIM

"The trading environment in the financial software sector continues to be
difficult. The growth in revenue achieved in 2002 of 17%, coupled with the
actions taken last year to reduce our cost base by #2.5 million on an annualised
basis, have put the business in a good position to benefit from an improvement
in the business climate. I am pleased to report that trading in the first four
months of 2003 is in line with expectations and we remain focused on achieving
our stated objectives of generating an operating profit in 2003."

Transfer to AIM

The Company announces that it proposes to apply to the Alternative Investment
Market of the London Stock Exchange ("AIM) for the Company's entire issued
ordinary share capital to be admitted to trading on AIM and that it will cancel
the Company's stock market quotation on the Official List of the UK Listing
Authority (the "Official List"). The Directors believe that it is appropriate
for the Company to move to AIM to take advantage of the greater degree of
flexibility afforded by this market. It is expected that its shares will
simultaneously de-list from the Official List and commence trading on AIM on 16
June 2003.

It is the Company's stated strategy to seek to expand its product range to
enable cross selling of products to existing clients. StatPro has confirmed its
intention to pursue this strategy in 2003 by taking advantage of market
conditions to seek to acquire further complementary products. The Company is,
however, currently restricted in the transactions that it can undertake due to
the costs that would need to be incurred to meet the UK Listing Authority rules.
Although the Company has no particular acquisition presently under
consideration, the transfer to AIM will enable the Company to act quickly when
opportunities do arise without the need to incur disproportionately large
expense.

There is no requirement for an AIM admission document to be published by the
Company, although the board is circulating this announcement to shareholders in
order to keep them properly informed with regard to the application to trade on
AIM. In particular, shareholders should be reassured that, so far as is known to
the directors, with the exception of shares held in a Personal Equity Plan or an
Individual Savings Account, the transfer to AIM should not affect their ability
to hold or buy or sell shares in StatPro and existing share certificates will
remain valid. Where StatPro shares are held in a Personal Equity Plan or an
Individual Savings Account, the plan manager will be required to sell these
shares within 30 days after the transfer to AIM. Shareholders who are unsure of
their own personal circumstances should contact their professional adviser.

Credit Lyonnais Securities, the Company's existing financial adviser, has agreed
to act as nominated adviser and broker to the Company.

StatPro currently intends to announce its interim results for the six months
ended 30 June 2003 in early August.



For further information, please contact:

StatPro Group plc
Justin Wheatley, Chief Executive                           [phone]
Andrew Fabian, Finance Director                            [phone]

Credit Lyonnais Securities                                 [phone]
Robert Finlay

Weber Shandwick Square Mile
Reg Hoare/Rachel Taylor                                    [phone]



Notes to Editors: StatPro Group plc is a leading provider of performance
measurement solutions for the global asset management industry, which floated on
the London Stock Exchange in May 2000. StatPro has grown its recurring software
revenue base by an average of 95% compound rate per annum from less than #1.0
million to #6.3 million in three years.

END


                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

AGMAIMRTMMMBBPJ