Trading Statement

Trading Statement 

    LONDON--(BUSINESS WIRE)--Sept. 26, 2002--

26 September 2002 - Tate & Lyle PLC

Trading Update

In line with its regular practice, Tate & Lyle issues the following
trading update prior to meeting with stockbrokers' analysts and
entering its closed period for interim results to 30 September 2002.
The interim results will be announced on 7 November 2002.

Overall trading experience to date (based upon five months' results)
has continued to be above internal expectations at the beginning of
the financial year. Profits in all our major business units continue
to meet or exceed plan. The results have improved with the elimination
of loss-making businesses that have been sold and continuing benefits
from the integration of Amylum into the Group. We expect strong first
half results that will be materially above the comparative period and
the prior six month period. Net debt has continued to decline with
stronger operating cash flows and lower interest and tax payments.

Performance at Staley, our US cereal sweetener and starch business,
has been strong. Manufacturing costs were lower. There was some
improvement in contributions in main product lines and better returns
were achieved from by-products. However ethanol selling prices and
margins have been substantially lower.

At Amylum, capacity utilisation for both wheat and maize has been good
and operations in Eastern Europe have performed particularly well,
reflecting strong demand. In the West there has been some benefit from
lower raw material costs and higher by-product returns.

Our sugar businesses in Europe and Canada continue to perform well and
provide stable profits and strong cash flow.

The reduction in net debt and interest rates together with some
benefit from interest on tax repayments has resulted in a substantial
reduction in the interest charge and improvement in interest cover.

We anticipate that the results for the full year will revert to a
traditional trading pattern with a significant weighting of profits
towards the first half. Increased selling prices in next calendar
year's sweetener pricing round, including the recovery of prevailing
higher corn costs at Staley, will be the significant factor in
determining the likelihood of an improvement in Group profits in the
second half by comparison with the same period in the previous year.

For more information contact:       Mark Robinson    020 7626 6525
                                    Chris Fox (Press) 020 7626 6525

   Short Name: Tate & Lyle PLC
   Category Code: TST
   Sequence Number: 00000843
   Time of Receipt (offset from UTC): 20020925T162920+0100