AGM Statement

API Group PLC
31 January 2003



31 January 2003


                                 API Group plc

                                 AGM STATEMENT


At today's Annual General Meeting of API Group plc, the Chairman, David Hudd,
said:

'Since we issued our preliminary announcement on 28 November 2002, trading
conditions have remained tough and there has been continuing competitive
pressure on margins.  However, the Group's trading results for the first quarter
were in line with the Board's expectations.  Additionally, we have secured
banking facilities totalling £40 million, the majority of which falls due for
repayment on or after 2007.

The Board remains committed to building on the foundations for improvement laid
last year and to developing our three divisions.  Although each division faces
challenges, they have opportunities both to increase market share and improve
financial performance.'

                                    - ENDS -


Enquiries:

Derek Ashley, Chief Executive
David Walton, Finance Director
API Group plc                                          Tel:      [phone]


Tim Spratt/Michelle Morton
Financial Dynamics                                     Tel:      [phone]


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