AGM Statement

RNS Number:0115V
Shaw (Arthur) & Co PLC
24 April 2002


                           Arthur Shaw & Company plc

                                 AGM Statement


Bryan Morrison, Chairman of Arthur Shaw Company plc ("Arthur Shaw"), said at the
annual general meeting today:

"As we outlined at the full year results we continue to concentrate our efforts
on further developing the Media Division and turning around the Engineering
Division. As previously stated the Board believes following a strategic review
that the two segments of the business would benefit from separate development
over the medium term. We have reached an agreement in principle which gives us
the option to divest of the Engineering Division whilst maintaining an equity
stake.

We continue to look at ways of strengthening our balance sheet and have made
considerable progress in this area over the last six months. We have lowered our
operating costs and have agreed, subject to shareholder approval, to convert
certain debt into equity.

The appointments of Richard Halcrow as non-executive director and David Glick as
a strategic consultant to the business has strengthened the management team
substantially and demonstrates our desire to concentrate our efforts on the
media side of our business. We continue to look for further top management to
supplement the existing strong team.

The acquisition of StreamTeam Limited since the year end demonstrates our drive
to turn Arthur Shaw's Media Division into a broad-based media business in which
delivery of content via the Internet is but one element. We will look for
further acquisition opportunities to drive the business forward as we develop
the business along these lines.

Since the year end we have continued to make progress towards this goal with a
number of opportunities across the media division. We are currently finalising
arrangements with Lennox Lewis's management regarding his upcoming fight against
Mike Tyson.

At the AGM all the resolutions proposed to the meeting were duly passed. It was
resolved to adjourn the consideration of resolution 9, in respect of the
conversion of certain existing debt into equity, and resolution 11 relating to
the creation of further convertible loan stock for issuance by the Company . The
Company proposes to issue a circular during May to convene an extraordinary
general meeting in June to consider these resolutions separately. The circular
to shareholders will provide further details in respect of these resolutions.

                                    - end -




Further Enquiries:

Tim Curle
Arthur Shaw
020 7706 7304

Jonathon Brill
Bell Pottinger Financial
020 7861 3232


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