Interim Statement

RNS Number:7636I
Recycled Waste PLC
14 March 2003


Recycled Waste plc ("Recycled Waste" or the "Company")

Interim Announcement for the 6 months ending 30 November 2002

Trading in the half year to 30 November was minimal. Costs have been reduced to
the minimum necessary to sustain the company, expenses having been incurred
mainly for professional work relating to the investigations already reported.
The Company has ceased its traditional recycling activities. Enquiries continue
for the MD 1000 and the Company has, during the period, entered into a joint
venture with EWI International ("EWI"), the manufacturer, whereby EWI invested
its costs and outstanding payments in the further development of the machine at
the Company's site at Speke in return for a 24% interest in the operating
subsidiary holding the asset. Negotiations have been continuing to agree new
terms for the future. Discussions are also taking place with Ceramic Drying
Systems, our partners in respect of the Airless Drying Process joint venture
regarding future opportunities.

The Company's working capital position is tight and the directors are seeking to
refinance and restructure the Company.  In particular, the company is seeking to
effect a sale and leaseback of its site at Speke and negotiations are taking
place with a view to acquiring two businesses involved in, respectively,
clinical waste management and glass reprocessing. Authority to pursue these
acquisitions and the accompanying restructuring are being sought at the
forthcoming Company Annual General Meeting. The Company continues to manage its
creditor position closely whilst it is investigating these transactions.

With regard to the frauds committed, the directors, having taken independent
legal and financial advice, believe they are close to a stage when they can
begin to seek reparation from those involved in the financial irregularities
already reported to shareholders.

A further announcement will be made when appropriate.

Copies of this interim statement will be available free of charge from 7
Devonshire Square, Cutlers Gardens, London EC2M 4YH, until 14 April 2003.


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