AGM Statement

RNS Number:4220L
McAlpine (Alfred) PLC
22 May 2003





                 ALFRED McALPINE PLC - CHAIRMAN'S AGM STATEMENT



                    McALPINE CHAIRMAN REPORTS SOLID PROGRESS



Speaking at the Annual General Meeting of Alfred McAlpine Group PLC
("McAlpine"), the Chairman, Oliver Whitehead will make the following statement.

"I am pleased to report that the McAlpine Group has continued to make good
progress. The Group is now organized into three business streams, Infrastructure
Services, Business Services and Capital Projects to better position us in our
chosen markets and to provide a wider geographical coverage of the UK. "

"Infrastructure Services - The good progress reported previously has been
maintained with solid growth in most areas of the business. The integration of
the recent acquisitions has taken place and the benefits expected are being
delivered."

"Business Services - The award of several major facilities management contracts
is helping drive the organic growth and the public sector is providing
opportunities for both our facilities and networks operations. The integration
of the Inframan acquisition made in December 2002 has been largely completed and
is providing a very good addition to our range of services."

"Capital Projects - We continue to focus on achieving our targeted margins over
growth in turnover. The core business is delivering a robust performance. Given
the slowdown in the commercial building market, turnover in our building
business will be lower, as indicated in the Preliminary Announcement."

"Dividend - The Group maintained a total dividend of 10p for 2002. As set out in
the resolutions to the meeting, we intend to pay a final dividend of 5.9p to
shareholders on 30 May. This payment reflects the Board's confidence in the
rebuilding of earnings to the levels achieved before the disposal of McAlpine
Homes and the resumption of our progressive dividend policy."

"In conclusion, McAlpine is in good shape. The Group has a strong management
team and a proven track record. Our strong balance sheet provides the
flexibility and the resources to create further shareholder value. I look
forward to reporting a further update on our progress with the interim results
in the Summer."



Date: 22 May 2003

For further information contact:

Alfred McAlpine PLC                                   www.alfred-mcalpine.com
Oliver Whitehead, Chief Executive                     020 7930 6255
Jeffrey Hume, Finance Director

City Profile
Jonathan Gillen                                       020 7448 3244
Simon Courtenay



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