AGM Statement

RNS Number:2245P
Marchpole Holdings PLC
01 September 2003



                             Marchpole Holdings plc

                                (the "Company")

                     Results of AGM, EGM and Class Meeting





Marchpole Holdings plc announces that all resolutions proposed at the Company's
Annual General Meeting, Extraordinary General Meeting and class meeting of
holders of Deferred Shares held today were duly passed.



Accordingly, shareholders approved a proposed reduction of share capital of the
Company by the cancellation of all 2,269,636,811 Deferred Shares in issue and
reduction of amounts outstanding to the share premium account of the Company by
#14,070,000 in order to eliminate in full the deficit on the Company's profit
and loss account as at 31 March 2003.



The proposed reduction of share capital and amounts outstanding to the share
premium account remain conditional on the approval of the High Court.  A further
announcement will be made when a hearing date is set.



                                                                1 September 2003




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            The company news service from the London Stock Exchange
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