AGM Statement

RNS Number:0460T
Ringprop PLC
09 December 2003

9th December 2003



                                  RingProp PLC




Further to the Annual General Meeting held today, the Company reports that all
resolutions were duly passed.

At the Annual General Meeting, the Chairman made the following statement on 
current trading:


"The first three propeller designs have been delivered to its joint venture
associate, J.L.French for the commencement of tooling. A further 17 designs will
be progressively delivered during January and February for prototyping and
eventual tooling and production.



RingProp has expanded its research and development programme through the
addition of extra staff to test a wider range of boat hulls and motors and also
through the engagement of expert Computer Aided Design staff.



The Company has appointed Home Port Marine, a U.S. public relations and
marketing company; the principals of which were founders of Boat US, a 500,000
member leisure marine boating organisation - the largest such recreational
boating organisation in the U.S.



Recent legislation passed by the Queensland Government has mandated that tourist
charter dive boats and commercial dive boats be fitted with propeller safety
devices. In relation to this, the Australian Army has agreed to supply the
Queensland Workplace Health & Safety with personnel, craft and 25hp and 40hp
RingProp- equipped Mercury outboards for trials.



In addition, RingProp has been invited to feature its product, as fitted to
Mercury outboards, at the Australian Government Trade Fair to be held in Sydney
in February.



The Board of RingProp is encouraged with progress over the past 12 months, and
looks forward to the future with confidence, and in particular the start of
commercial production in the Summer of 2004."





For further information:

RingProp plc
Denis Mulhall                                       07767 353 160

Durlacher Ltd
Jonathan Retter                                     020 7459 3600


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