AGM Statement

    RNS Number : 3789X
  Tolent PLC
  24 June 2008
   

    Tolent plc
    AGM statement
    24 June 2008


    At the Group's Annual General Meeting to be held today, Mike Speakman, Non-Executive Chairman of Tolent will make the following
comments:

    "The trading performance for the first four months of 2008 has been disappointing as a result of the continuing difficult trading
conditions in the economy in general and in the areas of the construction sector in which Tolent operates. The results for the first half
will be adversely affected by two provisions totalling £950,000. We have made full provision against a debt of £750,000 due from a
residential developer. We have made an accounting adjustment of £200,000 in respect of Echo Buildings as a consequence of having bought out
our joint venture partner. This provision will reverse when the remaining properties, most of which are let, are sold.  

    "The current secured forward workload is £120m with a further £40m of orders nearing signing and commencement on site. However, the
level of enquiries and conversion of these enquiries into firm orders has slowed in the first half of the year with a number of projects
being deferred or cancelled. This may have an impact on the achievement of the results for the full year to 31st December 2008."

    Contacts:

    Tolent plc                                                       0113 232 1510
    Andy Clark, Finance Director

    Brewin Dolphin Investment Banking                0845 270 8610
    Andrew Emmott

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