AGM Statement

Anglo-Eastern Plantations PLC
14 June 2000



                               
                 ANGLO-EASTERN PLANTATIONS plc

                         AGM STATEMENT

At   the   AGM   in   London  this  morning  of  Anglo-Eastern
Plantations,  which operates and is developing plantations  in
Indonesia  and Malaysia amounting to some 40,000 ha  producing
palm  oil,  rubber  and cocoa, Mr Peter O'Connor,  the  senior
independent non-executive Director, stated

'The  current  year began with very strong  FFB  (fresh  fruit
bunches)  production and this has continued up to the present.
Production is 25% ahead of last year and 27% ahead of  budget:
in  May our Tasik mill processed a record monthly crop.  While
we  must  be prepared for some downturn later in the year,  we
still  expect crops for the year as a whole to be better  than
expected.

I am pleased to report that harvesting on our Bengkulu project
began at the end of May. Although crop levels will not be
significant this year, this is the first stage of a quantum
jump in the group's output.

Against this positive background, CPO (crude palm oil)  prices
have  fallen sharply to about $312 per tonne from $375 at  the
time  of  the  announcement of our results six weeks  ago.  In
local  terms the effect is compensated by a further  weakening
of  the  Rupiah to around 8,500: $ from 7,100 at the beginning
of the year.

The   fall   in  the  Rupiah  reflects  continuing   political
uncertainty in Indonesia. We cannot expect the massive changes
required  there to happen overnight or, necessarily,  smoothly
but we remain confident in the prospects for the long term for
Indonesia and for our project in particular.'

Enquiries:

Anglo-Eastern Plantations plc                    020 7236 2838
  Rollo Barnes (Chief Financial Officer)      00 60 3 293 2352

Bankside Consultants Limited                     020 7220 7477
  Charles Ponsonby